According to a new poll, mass layoffs are expected in 2024 and might effect almost half of enterprises. This is the most recent data from a Resume Builder poll, which was conducted this month and received responses from over 900 businesses.With the help of a professional platform called Resume Builder, consumers may quickly and easily build resumes.
Increased concerns about an impending recession were sparked by the survey’s findings that roughly four out of ten businesses expected to lay off employees in 2024. A hiring freeze is something that over half of the employers say they intend to put into place in 2024.
Half of the employers surveyed stated that they were laying off employees because they were expecting a recession. Conversely, somewhat fewer than half of respondents (40%) stated they would replace labor with artificial intelligence (AI) and lay off people.
The announcement coincides with reports that Google is preparing to fire 30,000 workers from its ad sales divisions in favor of AI ad technology.
Which Employees Might Face Layoffs First?
While many companies expect layoffs, risk varies by size and industry. Midsize and large companies signal layoffs more (42% and 39%) than small ones (28%).
Construction and software sectors lead (66% and 65%) in predicting layoffs. Information, retail, finance (44%, 38%) anticipate employee changes.
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Business executives reported layoffs to their employers in 2023 at a rate of 65%; of them, 25% indicated their company had already made at least 30% of their staff redundant.
A significant portion of the workforce may lose their jobs in 2024 as well; according to 22% of the enterprises planning layoffs in the upcoming year, at least 30% of their employees will be let go.
