Furloughs and Reduced-Hour Schedules As Alternatives to Layoffs
Layoffs have many downsides. Employee morale is guaranteed to drop. A company’s unemployment insurance premiums will rise, perhaps steeply. And if an employer provides severance packages and/or outplacement services, they could get very expensive. If layoffs are significant in number, a business may not be able to adequately compete once the economy turns around. And […]