massive layoff is coming

• As massive layoffs continue in the tech industry, and questions of an impending recession remain, many employees fear what lies ahead for them in 2023.

  In December, ResumeBuilder.com surveyed 1,000 business leaders to understand how employment in their organizations has fared in 2022 and the outlook for 2023.

• 61% of business leaders say their organizations will likely have layoffs in 2023
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• 57% of business leaders who say layoffs are likely estimate 30% or more of their workforce will be laid off in 2023
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• 70% of companies are likely to implement a hiring freeze in 2023
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• 34% say their organizations are reducing or eliminating holiday gifts or bonuses this year; 27% reduced salaries of current employees
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• 79% of business leaders say they’re likely to fire ‘quiet quitters’
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• 74% of business leaders agree it will be easier to fire poor performers next year due employees losing bargaining power