Businesses plan more layoffs, hiring freezes in 2020

Nov 01, 2020
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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.

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Businesses plan more layoffs, hiring freezes in 2020

Businesses plan more layoffs, hiring freezes in 2020

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