More than half of all US companies are planning to lay off employees as they brace for an economic downturn, according to a new survey.
The PwC survey — which polled 700 executives and board members across the US — found that 52% of companies have already enacted hiring freezes, four out of 10 have rescinded jobs or axed signing bonuses for new hires, and roughly half have started laying people off or are preparing to cut headcount.
The grim numbers underscore how dramatically sentiment has changed from a year ago when employers were handwringing over losing staff amid the so-called “Great Resignation” when employees left corporations en masse……..
[read more]
Rising Dough
What has changed that companies are beginning to lay off employees when last year they could not hire enough people?
*Click on the “Full Loaf” icon to read the original article! After you read the original article, tell us your thoughts.
Companies have to pay employees more because their cost of living has gone up due to inflation. A company can either stop hiring, fire people, pay employees less, or cut other expenses which might not be possible.
Companies have to pay employees more because their cost of living has gone up due to inflation. A company can either stop hiring, fire people, pay employees less, or cut other expenses which might not be possible.