Collective Layoffs Have Repercussions For Companies
Collective layoffs of large groups of workers have been common during the Coronavirus Pandemic of 2020.
A new paper might inform possible impacts because it analyzed 556 collective layoffs announced between December 2018 and November 2019 across different industries that involved more than 250,000 employees. They wanted to see what collective layoff decisions had on the firms that initiated them.
The termination of employment, particularly of large numbers of people, typically evokes negative connotations. While the effect on individuals is obvious they found that layoff announcements…