- Industries from Big Tech to automotives to financial services are announcing layoffs.
- HR professionals carry the weight of facilitating layoffs, facility closures, and rescinding offers.
- Insider spoke with an HR VP and executive advisor who shared tips for HR pros managing layoffs.
Industries like Big Tech, automotives, and financial services are announcing layoffs.
Shopify, the e-commerce platform, announced plans to cut 10% of its global workforce. Meta, the parent company of Facebook, is planning to trim its workforce by as much as 10%, electric-car maker Tesla has laid off many recently hired workers and withdrawn job offers to would-be new hires, and Netflix has made cuts to its workforce size.
Behind every executive decision to downsize lies human-resource professionals facilitating the layoff plan. When a workforce faces curtailment, it’s human-resource professionals who enable organizations to address issues that inevitably arise from layoffs and facility closures. It’s a heavy lift for human-resources practitioners who must evaluate employee performance, reallocate job responsibilities, and maintain engagement while supporting remaining employees after all of the layoffs have left.
