For Most Companies, Layoffs Are Tough to Avoid
Summary
The study found that, in the last 12 months, 71% of companies with more than 10,000 employees said they have undergone a “In this uncertain economic climate, it seems that job elimination is inevitable for many firms,” said i4cp analyst David Wentworth.Regarding severance plans/packages for employees caught up in The Taking the Pulse: Reduction in Force survey was conducted by i4cp, in conjunction with HR.com, in October 2008.With more than 40 years of experience and the industry’s largest team of human capital analysts, i4cp is the definitive destination for organizations seeking innovative ways to improve workforce productivity.The study found that 58% of polled companies have had a reduction in force (RIF) within the last year, and 39% foresee one coming within the next six months.The amount of severance is most often determined by length of service in most companies, with 87% reporting it as the top choice, followed by job position (33%) and percentage of base salary (21%).The Taking the Pulse: Reduction in Force survey was conducted by i4cp, in conjunction with HR.com, in October 2008.