12 days ago
Business News Daily
This article is for small business owners seeking advice on how to avoid layoffs, or those who want to execute layoffs properly if necessary. In 2023, an estimated 6 in 10 companies are likely to enact layoffs, affecting 30 percent or more of the workforce. “Waves of layoffs crushed workers in retail, recreation and tourism at the onset of the pandemic. NFIB’s Small Business Optimism Index shows 32 percent of small business owners cite inflation as the single most important problem in operating their business. Making a decisive cut, leaving no room for a second round of layoffs : Don’t procrastinate over the decision or overpromise employees that their jobs will come back.
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