Holiday Layoffs: Ernst & Young and Other Companies Cut Jobs Amid Economic Challenges
Several companies, including Etsy, State Street, Hasbro, Spotify, and Condé Nast, have announced mass layoffs during the holiday season. While some attribute these layoffs to a perceived economic downturn, the data suggests a mostly strong economy. The timing of these layoffs is often driven by the need to boost end-of-year profits and appease shareholders. However, the current focus on workers' rights and the negative impact on company morale and public image may lead employers to reconsider laying off workers during the holidays.