Despite signs of economic recovery, including lower inflation rates and sustained low unemployment, the start of 2024 has already seen a surge in layoffs, surpassing 10,000 within the tech industry alone at the time of writing. Macy’s, Wayfair, Ford, and Citigroup are among the other companies who have already announced layoffs this year. This leaves many workers in a state of uncertainty, waiting to find out if they’re next to be cut.
5 Reasons People Get Laid Off
And how to proactively assert control over your professional destiny.
January 23, 2024
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Summary.
As companies continue to conduct layoffs, despite signs of economic recovery, it’s normal to feel powerless. Sometimes thwarting a layoff is impossible. For example, there’s not much you can do if your entire business unit is being cut because company goals have changed and your work is no longer relevant. But there are proactive measures you can take to assert some control over your professional destiny. The author presents five common reasons for layoffs and strategies for countering them.