Serial layoffs have become the new normal

Nearly 78% of HR leaders have conducted “serial layoffs” the past year, a phenomenon global outplacement firm Careerminds calls a “troubling new pattern.” Fully 40% of HR leaders surveyed say their layoffs occur quarterly, “indicating a trend of short-term cost cutting rather than long-term planning.” Many also say they refill those roles within a matter of months. Half of HR managers cite financial instability as the main reason for multiple layoffs, while only a third of companies offer outplacement services. Those layoffs come with a steep cultural price: HR leaders identify decreased morale; a drop in productivity and customer service; and even harm to the company brand following layoffs. Women account for about 75% of HR managers in the United States.