CONOMIC CHALLENGES. Recession. Unemployment. Today’s buzz words. After a decade of prosperous growth, we are once again in a recessionary climate caused by a downward-spiraling economy and the force majeure that hit the nation. Major cost reductions and a hard-line look at the hiring and retention of associates are precursors to possible layoffs.
Whether as a reduction in force or as a result of “unsatisfactory” performance reviews, an unprecedented number of layoffs have indeed been taking place. In view of recent economic trends, they are understandable and, in most cases, necessary.
