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ANALYSIS: How Employers Can Prep for Layoffs in Down Economy

June 23, 2022, 9:00 AM

The recent economic uncertainty—rising inflation, a declining stock market, a contracting gross domestic product, and the highest interest rate hikes in nearly 30 years—could force employers to consider layoffs in the near future.

And while layoffs may not immedaitely materialize as a result of the economic climate, it makes sense for businesses to have a plan just in case, as there are legal and ethical considerations that employers must contemplate when potential layoffs loom.

Anti-Discrimination Laws: A Chief Concern

Employers conducting employee layoffs must ensure that the criteria used to make determinations as to who should be let go ...