Only a humbug would let their employees go during peak Santa, season…right? 🎅 Unfortunately, according to recent survey data, even the nicest bosses may soon shift into Scrooge mode. 🫣
Thanks to a crap-tastic economy and all kinds of future fears, companies aren’t waiting for the new year to start layoffs. And no Christmas bonus for Clark, either. 🚫
Here’s Five Fast Facts on layoffs during the holidays:
- 🖤 Coal Hearted - The headlines are full of big-name companies announcing layoffs. Now, employers are speeding up their staffing cuts. According to a recent survey, 31% of business leaders report plans to lay off employees before December 31st. Out of those layoffs, 57% are reported to take place before Christmas.
- 🔄 Switching Gears - In the past, employers moved away from holiday job cuts. They’re bad for morale and optics. But now, companies are more afraid of an uncertain economy than a bad reputation. The survey revealed that 40% of companies with layoff plans say they could have waited until the new year, but chose not to.
- 🥺 No Soup 4 U - Another low blow: 40% of companies surveyed said they weren’t providing severance payments to laid off employees. Another 42% said they purposely planned cuts during the holiday season to avoid paying bonuses and 35% say their crappy timing spares them the cost of year-end PTO.
- 💸 Rotten Rich - If you thought that humbug behavior was bad, wait…there’s more. According to the survey, 82% of companies report their executives are still getting their year-end bonus checks.
- 🍕 Lil’ Help? - A (lame) silver lining? Roughly two-thirds of those surveyed plan to offer job placement assistance to laid off staff. If you’re lucky, they might even throw in a pizza party.
🔥Bottom line: Hey, we're gonna need a list of who’s getting hefty bonuses. You know…to send them a Christmas card. If you get a pink slip right before the holidays, the last thing you feel like doing is shopping. However, if you still wanna spread a little Christmas cheer to your loved ones, there’s a budget friendly way. Head here to read our tips for gifting without guilt.
Survive a recent round of layoffs?
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