Red Flags Signaling You May Be Selected For A Layoff

Right now, the job market doesn’t feel like it was a month ago. Inflation is spiraling out of control. The cost of everything is exorbitant. There are talks of a recession, stagflation and worries about being dragged into a war against Russia. These and other factors have scared investors, and the stock and cryptocurrency markets have plummeted, wiping out trillions of dollars. With so much uncertainty, it’s reasonable for executives and human resources professionals to pump the breaks on hiring and start considering layoffs. We’ve already seen an array of tech companies—whose stock prices were crushed—enact downsizings. If the overall mood, economy and financial markets don’t turn around, there will likely be further rounds of terminations and hiring freezes put into place. Here are the big, waving red flags that you need to watch out for to determine if you need to update your résumé and start hunting for a new job. In the pre-pandemic days, when everyone was in the office, you can get a vibe check on what was happening by watching how management and leadership act. If they are walking quickly through the hallways with pensive looks on their ashen faces, avoiding eye contact and pleasantries with the staff, you’d know something is about to happen. This presumption will be heightened if the upper-echelon executives dart in and out of closed-door meetings looking visibly shaken. If your company is publicly traded, everyone would look at how the stock price is trading and compare it to other companies in your field. If your firm’s stock is tanking, along with the competitors in your space, that is not a good sign. Start checking online to see if any stories shed light on what is prompting the bad news and degrading circumstances. The next red flag is when you get the memo or email about perks and benefits being cut. This is followed by an all-hands-on-deck video call, in-person meeting or individual managers leading conversations with their teams. The talk would go something like this, “I’d like to thank everyone for all their hard work and efforts. I appreciate everything you’ve done. However, I’m not happy to say, we’re in a tight financial spot. Due to the current economic climate sales, revenues and profits are down. For now, everyone is safe and there is nothing to worry about. I’m sure this will blow over soon.”Everyone leaves the meeting shaken, thinking of the worst-case scenario. Some have immediately updated their résumés, LinkedIn profiles and put out feelers to recruiters. Shortly after the initial managing expectations conversations, it starts getting real. You notice that a person or two from your division were called into human resources. The next day their office and cubicles were bare and they were gone. You hope that was it and you’ve been saved. You might tell yourself that the folks who were let go were not the best workers and you’re much better. The boss always had a friendly rapport with you.. . . All data is taken from the source: http://forbes.com. Article Link: https://www.forbes.com/sites/jackkelly/2022/05/15/red-flags-signaling-you-may-be-selected-for-a-layoff/. . . #stock #newsbbc #newstodayusa #cnnnewstoday #kingworldnews #newstodaybbc #