Studies are showing that around 98% of CEOs in the US and across the EU are preparing for a recession in the next 12-18 months.
With inflation increasing the cost of goods and certain services, some companies may find themselves in an immediate economic bind and needing to engage in cost-cutting methods to reorganize and redeploy the company’s resources in a smarter way as they prepare for a possible recession.
In this Quick Chat video, our Labor and Employment lawyers discuss cost-cutting options employers are exploring without staffing layoffs, what we’re seeing that’s different from the beginning of the pandemic, and some important considerations employers should keep in mind if they engage in cost-cutting.
Speakers: Susan Eandi, Benjamin Ho and Goli Rahim.
Subscribe to The Employer Report blog, where Baker McKenzie lawyers provide legal updates and practical insights to help clients understand, prepare for and respond to the latest domestic and cross-border Labor and Employment issues affecting US and multinational employers. Past videos are linked in the blog sidebar for easy access to topics including the proliferation of pay transparency laws, whistleblower developments for multinational employers, trends in labor unions and workforce, and much more.
Related content: Managing Business Change & Disruption
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