Workplace layoffs can be unpredictable. No matter how good things can look to outsiders, the bottom line can be tricky to navigate and, unfortunately, hard workers pay the price. In July, 45,346 workers were laid off by U.S. companies, which is a 19 percent increase from the previous month. Despite the big number, these layoffs are significantly less than a year ago when job cuts rose to a four-year high. SHRM.org explains how the energy-sector cuts make up a high percentage of these cuts and where job loss trends as a whole are heading.
Here in Houston, we consistently hear about oil, oil, oil! The oil economy is one of the major factors that the city stayed afloat with their economy during the recession. Times have changed and oil prices have been on a rollercoaster ride for the last two years. CNBC discusses the layoffs at oil giant ConocoPhillips, which sacrificed six percent of their workforce due to recent losses. CNBC also discusses the shedding of jobs in the technology field, most notably the once indestructible Microsoft, which announced 9,875 layoffs last month, bringing their 2016 total to 49,464.
Whether you are in oil, electronics, or a completely different field, you may find yourself at crossroads with having to lay a bundle of your employees off. Budget demands from the corporate office can be stringent and not always fair to the workplace. Think back to a time when you were younger and trying to work your way up the ranks of the job market. How would you have liked your supervisor to handle the situation? Be honest, upfront, and respectful when giving the tough news. You never know when or where these people could pop back up into your lives again!