As Fox Business reported on Friday, many companies in the United States are planning to reduce the number of their employees.
The broadcast continued:
That’s according to a new survey released Thursday by a PwC consultant who surveyed more than 700 US executives and board members from a variety of industries last month. Nearly half of those surveyed said they were preparing or making a layoff, and 52% suspended hiring.
Also, around 46% of companies are eliminating or reducing their contract signing bonuses, a common occurrence in the past year as businesses seek to attract new workers in an increasingly tight job market. The survey showed that another 44% completely rejected offers.
Home improvement company Wayfair has decided to lay off about 870 workers to help manage operating costs and “refocus investment priorities” at the end of the coronavirus pandemic, the Associated Press (AP) reported this week.
In 2020, the company reported a 55 percent increase in sales as people bought home furnishings.
But “last year, sales at Wayfair fell 3.1% as more people stepped out,” the report said.
In addition, Best Buy has cut jobs as the company faces changing consumer behavior, the AP reported on August 12.
According to a recent survey conducted by PwC, respondents are trying to optimize the workforce to create the right skill balance in the workforce of the future.
“This is not surprising. After the hiring frenzy and tough job market of the past few years, managers are seeing the difference between having people and having people with the right skills.
“About 70% of businesses report allowing more employees to work from home permanently,” Fox said in the article.
Job postings fell sharply in June as the Federal Reserve raised interest rates, gas prices soared, inflation soared and consumer spending slowed, Breitbart News reported on Aug.
“This shows that businesses are preparing for the economic crisis by refusing to hire new workers,” the statement said.
Source: Breitbart
