Home Market Analysis Expect Layoffs At Half Of U.S. Companies, According To New Survey

Expect Layoffs At Half Of U.S. Companies, According To New Survey

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Expect Layoffs At Half Of U.S. Companies, According To New Survey


A surprising new survey shows that half of US companies are reducing, or plan to reduce, headcount.

Here’s what you need to know.

Layoffs and Hiring Freezes

According to consultancy PwC, a survey of 700 executives and board members from various industries conducted last month shows:

Layoffs

Definite Layoffs: 51% have started layoffs or are planning to start layoffs Potential Layoffs: An additional 19% are considering a plan to reduce headcount

Hiring Freeze

Definite Hiring Freeze: 52% have started hiring freezes or plan to start a hiring freeze Potential Hiring Freeze: An additional 18% are considering hiring freezes

Rescind Job Offers

Rescinding Job Offers: 44% are rescinding, or plan to rescind, job offers

Potentially Rescinding Job Offers: An additional 14% are considering resigning job offers

Eliminating Sign-On Bonuses

Eliminating Sign-on Bonuses: 46% are eliminating/lowering, or plan to eliminate/lower, sign-on bonuses

Potentially Eliminating Sign-on Bonuses: An additional 16% are considering eliminating/lowering sign-on bonuses

That said, the survey also shows that 70% of companies have expanded or are expanding remote work permanently, 64% are increasing or plan to increase compensation, and 62% have increased or are increasing mental health benefits.

Layoffs: list of companies

Which companies have already reduced headcount? Here is a non-comprehensive list of some technologies companies that reduced headcount since May 2022 (headcount approximate):

Microsoft MSFT : 2,000 people Apple AAPL : 100 people Shopify: 1,000 people Robinhood: 700 people Netflix NFLX : 300 people Tesla TSLA : 229 people Peloton: 780 people Groupon: 500 people Carvana: 2,500 people

While each company may offer a distinct reason for reported headcount reduction, there are general concerns about a prospect of a recession or strained economic environment. Economic uncertainty, heightened inflation, supply chain disruptions, higher interest rates and slower growth are some reasons that companies are concerned.

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