{"id":644365,"date":"2024-09-24T00:00:00","date_gmt":"2024-09-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/24\/employers-are-starting-to-think-twice-before-letting-go-of-employees\/"},"modified":"2024-09-24T00:00:00","modified_gmt":"2024-09-24T00:00:00","slug":"employers-are-starting-to-think-twice-before-letting-go-of-employees","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/24\/employers-are-starting-to-think-twice-before-letting-go-of-employees\/","title":{"rendered":"Employers are starting to think twice before letting go of employees"},"content":{"rendered":"

Mass layoffs could be a thing of the past:<\/strong> Companies aren\u2019t as quick to let go of employees as they once were when times get tough as rehiring proves difficult, Axios<\/a> writes. This comes after a significant uptick in layoffs \u2014 during the early days of the Covid pandemic employers let go of a whopping 13.5 mn employees<\/a>, the highest number in the past 24 years.<\/p>\n

What changed their mind? <\/strong>When the economy started recovering from the pandemic and companies started looking to fill up newly-vacant positions, the process proved to be daunting. There weren\u2019t enough people to hire, which led to a widespread worker shortage in 2022. This seems to have pushed employers to hold on to their employees despite recession concerns and rate hikes. \u201cIt took me so long to get this labor force, I'm not letting them go,\u201d one manager told Axios. <\/p>\n

Slowly but surely. <\/strong>In 2019, the US saw an average of 1.9 mn employees laid off every month. This year, the figure dropped to 1.6 mn, according to official data<\/a>. <\/p>\n

Don\u2019t celebrate yet. This still doesn\u2019t mean the labor market is thriving. <\/strong>In a report released last month, labor market information data center Ligh<\/a>tcast w<\/a>arns<\/a> that \u201cUS employees will soon face the largest labor shortage the country has ever seen,\u201d citing falling childbirth rates and the retirement of Baby Boomers. Younger generations have also shown a greater interest in office-based jobs requiring a college degree and there has been a decline<\/a> in working-age men in the workforce. This puts risk on industries that AI can\u2019t salvage like healthcare and retail. <\/p>\n","protected":false},"excerpt":{"rendered":"

Companies aren\u2019t as quick to let go of employees as they once were when times get 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aren\u2019t as quick to let go of employees as they once were when times get tough","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.f5565492-684f-431f-8f9a-9baf214db3ba.mp3"},"yoast_head":"\nEmployers are starting to think twice before letting go of employees - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/24\/employers-are-starting-to-think-twice-before-letting-go-of-employees\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Employers are starting to think twice before letting go of employees\" \/>\n<meta property=\"og:description\" content=\"Companies aren\u2019t as quick to let go of employees as they once were when times get tough\" \/>\n<meta property=\"og:url\" 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