Nearly 1/3 Of Professionals Are Worried About Layoffs In 2021

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Nearly 1/3 Of Professionals Are Worried About Layoffs In 2021

Early in the COVID-19 pandemic, some executives took layoffs off the table for 2020 to give employees some added security during a troubling time, but the workforce won’t get the same assurance for 2021.

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  1. Are you worried about layoffs at your company?
  2. Are your coworkers speculating potential layoffs within the next 6 months?

Are Professionals Worried About Layoffs In 2021

Key learnings from 1/22-2/01 from 5,958 professionals

  • 32% of surveyed employees are worried about layoffs at their company
    • 70% of IBM employees are worried about layoffs at their company
    • 73% of Boeing employees are worried about layoffs at their company
    • 71% of Wells Fargo employees are worried about layoffs at their company
    • 91% of TicketMaster employees are worried about layoffs at their company
  • 28%  of surveyed employees say their coworkers speculating about potential layoffs within the next 6 months
    • 86% of PayPal  employees say their coworkers speculating about potential layoffs
    • 69% of Dropbox employees say their coworkers speculating about potential layoffs
    • Half of CitiBank  employees say their coworkers speculating about potential layoffs
    • 0% of Indeed.com employees say their coworkers speculating about potential layoffs

Professionals Comment:

A professional at Linkedin posted “ Bay area layoff wave- Been seeing trickles of engineering layoff posts on Blind, Dropbox, VMware, Walmart. What company do you think will be next to lay off expensive bay area people?”

With nearly a third of professionals fearing layoffs within the next 6 months, this is likely indicative of the state of the workforce in 2021.

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Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver
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