It’s been a while since I talked about layoffs on this blog. But if the whispers from employers that I’ve been getting these last few weeks are any indication, we may be entering a new cycle where cuts start to run deep.
Of course, it’s still too early to call but as an Axios
Imagine, hypothetically, that you are the head of a massive technology company. You decide one day that you want to layoff, say, 50 percent of the workforce tomorrow while offering employees a severance agreement. What should you know?
My colleagues, Gabe Jiran and Keegan Drenosky, did a whole webinar on the subject last month that
Before I do a recap, I want to share a hopeful tidbit. My friend Tim plays the bagpipes. For the last few years, St. Patrick’s Day (and the weekend) is his favorite time because his band rents a bus and tours pubs across Connecticut.
Suffice to say, there was no pub crawl yesterday.
But after
Monday, March 16th was brutal.
I kept using that word over and over in conversations with employers who are watching their entire business disappear overnight.
Brutal.
Layoffs — at a scale that I think is difficult to comprehend — are sweeping through Connecticut businesses.
Restaurants? Closed (except for takeout or delivery).
Gyms? Closed.
Movie theaters?
In my prior post, I wondered aloud whether there were some rough waters ahead for employers. Apple recently announced that it would not meet it’s earnings estimates in the first quarter of 2019, in part because of soft demand from China. Other companies are expected to announce some similar issues.
Honestly, I’ve had enough conversations
In the last few months, I’ve had some inquiries from employers asking about resources for layoffs.
Yawn.
Everyone remembers the layoffs of the recession, right?
Actually no, as it turns out.
In the ten years since the last great round of layoffs, there is a big group of new managers, directors, human resource personnel, lawyers
Earlier this week, I discussed the benefits of providing notice to employees who may be affected by mass layoffs and plant closings, by complying with the Worker Adjustment and Retraining Notification (WARN) Act.
But what exactly does the WARN Act require and who is covered? Here are some basic answers to some basic questions.
Six months ago, I predicted a renewed emphasis on reduction in force laws and regulations with the possibility of an economic slowdown looming. With six months left to go in the year, I’m still feeling good (if you can feel "good" about suc
h things) about that prediction.
Is the economy still on the yellow