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What is Understanding Layoffs and Their Impact about?

Layoffs occur when a company reduces its workforce for financial reasons such as declining sales or profits. Companies first consider alternatives like hiring freezes, attrition, pay cuts, or reduced hours before resorting to layoffs. If layoffs are necessary, companies must select employees to lay off carefully and legally based on objective criteria like seniority and performance. Proper notification, communication, and support for laid off and remaining employees can help minimize the negative impacts of

Author

Megha Kain

Language

EN