Businesses plan more layoffs, hiring freezes in 2020

Businesses plan more layoffs, hiring freezes in 2020

The wrath that the virus has unleashed at the start of the year is far from over. Things don't seem to get better as we see a resurgence in cases. According to a survey conducted by The Conference Board last month, nearly 1 in 10 businesses plan to layoff workers in the final three months of the year. Also, this quarter, 11% of businesses plan to reduce bonuses, 8% expect to defer raises or bonuses, and 12% say they’ll freeze hiring or restrict it to critical roles – adding to the 15%, 31%, and 77%, respectively, that took those actions earlier this year, according to the survey. To know more, click here

You might also like

For several reasons, the IT sector is appealing to job seekers. ...Read more

Despite the opposition of restaurant owners who worried it would raise customers' bills, California Governor Gavin Newsom on Monday signed a nation-leading law providing more than 500,000 fast food employees additional authority and rights. ...Read more

Demands for improved pay and workplace environments are coming from workers in California to New York. ...Read more

New graduates from institutions in Nigeria and other African nations have been made aware of job prospects by Microsoft. ...Read more

A mattress company is searching for a role where napping while working is not only acceptable but also required. 'Casper Sleepers' are being hired by Casper, a New York-based business established in 2014. ...Read more

Articles

Millennials are considered to be social people, who live by the ‘work hard play hard’ mantra and ar ...Read more

More than 50% of the US workforce is working remotely as of now. According to experts, about 25-30% ...Read more

A successful company not only has growing revenues, but it also boasts of a brilliant workforce. Ma ...Read more

Student loan debt is a crisis that has been making its way through The United States for quite some ...Read more