Layoffs are coming in 2023 according to a survey of 1,000 business leaders

In a recent survey by ResumeBuilder.com, business leaders were asked about their employment numbers in 2022 and how they perceive their workforce needs in 2023. Currently, about six in 10 of those organizations are likely to lay off employees next year. Among those layoffs, the survey showed they are more likely to happen at larger companies with over 500 employees at 74% vs. companies with under 500 employees at 51%.

Additionally, hiring freezes are on the table next year as well for 70% of companies who say they are ‘likely’ (31%) or ‘very likely’ (38%) to go that route. With all the unknown variables in the job market and economy next year, hiring freezes may be seen as a softer step before layoffs are needed to avoid making cuts too deep for an organization’s needs.