Chip Cutter

speaker

1,085 appearances 18 recordings 1 series first heard Aug 2019 last heard Sep 2024

Chip Cutter’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Companies Shedding Workers, but Avoiding ‘Layoffs’ · 1 Mar 2023 podcast

Well, right now we're seeing a wave of high-profile layoffs, particularly among white-collar workers. matched

But a number of companies are taking other approaches to manage their workforces. matched

And so some are adding new restrictions on remote work. matched

Others are stepping up scrutiny and performance reviews. matched

And some companies are requiring staffers to relocate across the country to keep their jobs if they're going to close certain offices. matched

Well, performance reviews can really determine whether someone wants to stay at a company or not. matched

And I think an interesting example here is that the Facebook and Instagram parent Meta, the company has issued thousands of subpar performance reviews in recent weeks. matched

And matched

Some people inside the company have told us that they see this as a sign that those workers may want to go elsewhere then. matched

And so a tough performance review or putting someone on a performance improvement plan, whatever that might be, all of that can be sort of a signal to workers about their value within an organization. matched

And I think some employees may say, rather than put up with this or after a tough review, I'm just going to go elsewhere and look for another job. matched

Well, employees don't have a lot of rights in most American workplaces. matched

This is at-will employment, and a company is free to change the terms or review workers however they would like. matched

What power workers have is to look for jobs elsewhere. matched

This is still a tough labor market. matched

It's a 3.4% unemployment rate. matched

It's still very tight historically. matched

So workers... matched

could look for jobs elsewhere. matched

Of course, some don't want to do that. matched

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