Communications of the ACM
Holiday Humbug Hits the Workforce This Year
Layoffs are selective across roles and not across the board.
Credit: Getty Images
The holiday season is upon us once again. But thousands of workers are part of a year-end trend that seems to be emerging: mass layoffs.
Major companies are dumping employees at the harshest time possible. They point toward a hunkering down mentality by companies expecting an economic slowdown, says Hitendra Chaturvedi, a professor of practice at Arizona State University's W. P. Carey School of Business.
"Hiring is a lagging indicator," Chaturvedi says. "When companies saw indicators pointing toward an economic slowdown, they laid off some workforce in anticipation of a slowing economy."
There's concern that layoffs will curtail buying and lead to "a very serious spiral toward recession," he says.
From Arizona State University
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