Layoffs

Most of the firm’s professional assistants and “select professional staff” will move to a shorter work week and will see compensation reductions.

“Employers are grappling with the seemingly endemic skills gaps in healthcare, supply chain and skilled trade fields,” says Rachel Carlson, CEO of Guild Education.

With factories, schools and shops shuttered around the world, lockdowns, pay cuts and layoffs are affecting 38% of the global workforce.

During recessions, not only do layoffs accelerate, but hiring drops sharply, exacerbating the labor market weakness.

“This morning’s data leaves no doubt that the economy is currently in a recession,” said Matthew Luzzetti, chief U.S. economist at Deutsche Bank.

Locales with high concentrations of jobs in industries such as retail and health care could see as much as a 4% decline in their annual growth rate if the shutdowns last just a month.

Employers are dealing with seismic changes in the new workplace normal of entire WFH staffs, stressed-out workers — and layoffs ahead. Welcome to Remote America.

A $15/hour federal minimum wage would backfire, according to recent findings from the Competitive Enterprise Institute.