Chip Cutter

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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

And I think the kind of layoffs that we've seen in a number of high profile companies have spooked some employees. matched

We've heard from a number of employers that attrition is down, for example, because people just may not feel like this is the time to look for other work. matched

So there is a shift in the balance of power that's happening across the corporate sphere. matched

Well, companies really ramped up hiring in the pandemic. matched

We saw a number of companies say repeatedly they just couldn't find enough people. matched

They were desperate to get new people in the door. matched

So many companies now feel reluctant to admit that they hired too quickly in the pandemic or incorrectly forecast growth. matched

And so some of them are now looking to correct. matched

And that could be behind some of these moves that some have said are sort of thinly disguised layoffs. matched

One economist told me it's very much a layoff without calling it a layoff. matched

Well, a layoff can hurt a company's reputation. matched

It could jar employees. matched

It could hurt a company's culture. matched

There are many reasons why a company wouldn't want to go to that drastic step of a big workforce reduction. matched

And so I think some of these other tactics, though, can be a way to thin out the workforce without going to the step of a layoff. matched

And one former HR person told me that not singling people out matched

in a layoff can also prevent a company from being sued if people, you know, would be unhappy in a layoff. matched

But if they sort of choose to go on their own, they may not sort of feel the desire to really sort of hold the company accountable. matched

It could all just sort of change the factors here. matched

That's right. matched

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