layoffs-or-furloughs

Layoffs or furloughs?

Shedding some light on the layoff versus furlough debate.

The economic crisis is certainly keeping human resources departments busy. Judging by the headlines, HR teams at corporations and banks cannot be taking many days off as they try to solve the problem of how to cut payrolls to save the organisation without losing their best people in the process.

For banks, layoffs appear to be the answer. I don't know of a single person who is simply taking time off from their firm. Everybody is being laid off, said one unemployed banker.

If this is true, it would seem the financial services industry is in for a permanent change. According to HR research, layoffs are best suited for industries in the midst of change...

¬ Haymarket Media Limited. All rights reserved.

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