What do mass layoffs indicate?
Mass layoffs aren’t uncommon in the business world because the nature of the workforce is constantly in flux.
As a result, organisations often have to realign their workforce with the current trends, leading to the disruptive phenomenon of
layoffs
.
Although it’s devastating for an employee, companies tend to practise it to deal with particular business pressures.
These pressures could include companies’ failure to achieve their profitability targets resulting in certain tough decisions such as cost-cutting.
From a worker’s standpoint, finding a new job is exhausting.
It takes weeks to negotiate your position, conditions, and salary.
Layoffs can become a significant demotivating factor for employees on so many levels.
Employees in the tech industry, specifically, have suffered a massive blow.
The reasons behind these layoffs include the enormous hiring to recover from the pandemic.
When individuals in a workplace are affected, the economy, as a whole, also gets affected.
Read our complete article "How mass layoffs are affecting employees"
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