As the impact of the global economic crisis takes hold, a quarter of U.S. employers expect to make layoffs in the next 12 months—if they haven’t already done so. However, most companies are focusing on increased employee communication and smaller cost-saving measures, according to a survey by Watson Wyatt, a leading global consulting firm.
“Employers are still sorting out the impact of the economic crisis, but changes are clearly in the wind,” said Paul Platten, global practice director of Watson Wyatt’s human capital group. “As they respond to the new environment, companies will have to balance how to control costs, maintain employee morale and prepare for future staffing challenges.”
According to the survey, conducted in mid-October, 30% of employers have already implemented hiring freezes and 25% plan to do so within the next 12 months. The sluggish economy has led to layoffs at 19% of the firms surveyed, and anoth...(register to read more)
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