WASHINGTON (MarketWatch) — The number of announced job cuts surged 60% to a 16-month high of 66,414 in July, according to the consultancy Challenger, Gray & Christmas. Merck & Co., Borders, Cisco Systems, Lockheed Martin and Boston Scientific accounted for 57% of the total, or 38,100 positions. “What may be most worrisome about the July surge is that the heaviest layoffs occurred in industries that, until now, have enjoyed relatively low job-cut levels, including pharmaceuticals, computer and retail,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas.