When big companies initiate mass layoffs, they often create a ripple effect that affects their suppliers, partners, and even competitors. This significant loss of talent and expertise can hurt innovation and slow down progress in key sectors. Instead of cutting jobs as a first resort, companies should explore alternative solutions like upskilling their employees. While the dangers of big tech's layoff-contagion are real, so are the opportunities for innovation and growth that come from investing in people. https://www.ptechpartners.com/jobs/

1. Layoff-
Contagion
The Risks of

2. The copycat
effect is real
and it’s
happening
Over 139,000
people laid off by
tech companies
in 2023
Creates an infectious and
reflexive layoff-as-strategy
decision-making

3. Layoff-contagion
poses major challenges
• A decrease in job security and stability
• Reduced spending and decreased
economic activity

4. • Layoffs increase unemployment
insurance rates
• Cuts reduce workplace morale
and productivity
Costly layoffs don't
improve a company's
performance

5. In most instances, layoffs
don’t improve stock prices
or cut costs
Improve retention by
understanding what
your employees want.