In the back of our minds, we have an image of the decision to lay off employees and why it happens: The business must be in trouble.
Of course, employers can shed workers in other ways. Employees could be fired because of poor performance, and especially, voluntary turnover would shrink headcount just by freezing replacements. Average voluntary turnover in the U.S. is about 33% per year—in a big company, maybe 10%. A year-long hiring freeze would cut a lot of people and jobs. READ MORE