Survey Says 50% of Employers Expect Job Cuts

Many companies have announced layoffs in recent weeks, and others have hinted that cuts may be coming. Luckily, there are steps workers can take to prepare.

“At the end of day, you can’t control what’s happening in the economy, but you can control building a strong professional resilience,” according to Mandi Woodruff-Santos, a career and money coach.

Best Buy, Ford Motor, HBO Max, Peloton, Shopify, Re/Max, Walmart and Wayfair are among the firms that announced layoffs in recent weeks.

Meanwhile, 50% of firms are anticipating a reduction in overall headcount, while 52% foresee instituting a hiring freeze and 44% rescinding job offers, according to a PwC survey of 722 U.S. executives fielded in early August.

These are executives’ expectations for the next six months to a year, and therefore may evolve, according to Bhushan Sethi, co-head of PwC’s global people and organization group.

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Source: CNBC