October 2, 2022

1 / 2 of Companies Planning Layoffs Or Hiring Freezes: Survey

This is Biden’s disastrous ‘Build Back Better’ agenda in action.

A concerning survey associated with 700 US executives shows that  half of them are either actively reducing headcount, or plan to  – while  52% have implemented employing freezes, according to  Bloomberg .

The particular survey, conducted last 30 days by consultant PwC, also found that  more than 40% of executives are rescinding job offers , whilst a similar amount are reducing or eliminating sign-on bonuses that were all the rage amid the particular tight job market just several weeks ago.

At the bright side – around 2/3 of companies are boosting pay or expanding mental-health advantages, and 70% are  planning  to make remote control work options permanent – though at the same time, 61% stated they’re requiring staff to be on site more often – which can happen at the same time depending on the job (“ Roles that don’t require much in-person cooperation could go remote for good, while other staffers might be required to get back to their desks a few times a week. ” )

“ Firms are playing offense and defense with their talent strategies, ” According to PwC’s Bhushan Sethi, who noted that employers are weighing reputational damage and employee morale when it comes to layoffs. “ People have long memories, and social media plays a much bigger role at this point. ”

Bloomberg   shows that the findings illustrate “ the contradictory nature associated with today’s labor market, where skilled workers can still mainly name their terms among talent shortages even as companies look to let people move elsewhere, particularly in hard-hit industries like technology plus real estate. ”

US  job growth   last month blew past economist estimates, while Labor Department data Thursday showed a drop in programs for  unemployment insurance coverage , suggesting demand meant for workers remains healthy. But layoffs and hiring freezes also are becoming  a lot more widespread , and not just with overheated tech startups that grew too fast.   Oracle Corp. ,   Walmart Inc.   and  Apple Inc.   are usually among the big employers that have announced cutbacks in latest weeks.   -Bloomberg

Withe fewer employees in workplaces,   some   organizations are looking to reduce overhead – with  more than 20% of those polled said they plan to reduce their investment in real estate property . Conversely, 31% said they were  increasing   property investment.

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