{"id":1616586,"date":"2022-08-19T12:34:19","date_gmt":"2022-08-19T16:34:19","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1616586"},"modified":"2022-08-19T12:34:25","modified_gmt":"2022-08-19T16:34:25","slug":"bidencession-half-of-u-s-companies-preparing-for-job-cuts","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidencession-half-of-u-s-companies-preparing-for-job-cuts\/","title":{"rendered":"Bidencession: Half of U.S. Companies Preparing for Job Cuts"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbidencession-half-of-u-s-companies-preparing-for-job-cuts%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1616586&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div class=\"featured featured-video video-ct\">\n<div class=\"contain\">\n<div class=\"info\">\n<div class=\"caption\">\n<p>Mainstay Capital Management founder and CEO David Kudla discusses his expectations for the July employment report and weighs in on markets on &#8216;Mornings with Maria.&#8217;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Companies across the country are planning to scale back their headcounts after a year of frenzied hiring.\u00a0<\/p>\n<p>That&#8217;s according to a new survey published on Thursday by consultant PwC, which last month polled more than 700 U.S. executives and board members from various industries. About half of respondents said they are preparing to reduce headcount \u2013 or already have \u2013 while 52% have implemented hiring freezes.\u00a0<\/p>\n<p>On top of that, roughly 46% of companies are either dropping or reducing signing bonuses, which became commonplace over the past year as businesses tried to lure in new workers amid an increasingly tight labor market. Another 44% are rescinding offers entirely, the survey showed.\u00a0<\/p>\n<p>&#8220;Respondents are also taking proactive steps to streamline the workforce and establish the appropriate mix of worker skills for the future,&#8221; the survey said. &#8220;This comes as no surprise. After a frenzy of hiring and a tight labor market over the past few years, executives see the distinction between having people and having people with the right skills.&#8221;<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/economy\/is-united-states-entering-recession\" target=\"_blank\" rel=\"noopener\"><strong><u>IS THE UNITED STATES ENTERING A RECESSION?<\/u><\/strong><\/a><\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 768px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><\/div>\n<div class=\"caption\">\n<p><span>Recruiters speak with job seekers during a Miami-Dade County job fair in Miami, Florida, on Thursday, Dec. 16, 2021.\u00a0<\/span><span> (Eva Marie Uzcategui\/Bloomberg via Getty Images \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n<p>Still, the report showed some incongruities within the labor market: Although businesses are scaling back their workforce, roughly two-thirds said they have increased wages or expanded mental health benefits. Nearly 70% of businesses reported allowing more employees to work from home permanently.\u00a0<\/p>\n<p>The survey comes amid growing concerns that the <a href=\"https:\/\/foxbusiness.com\/category\/the-fed\" target=\"_blank\" rel=\"noopener\">Federal Reserve&#8217;s war on inflation<\/a> could trigger a recession.\u00a0<\/p>\n<p><a href=\"https:\/\/www.foxnews.com\/category\/politics\/executive\/economic-policy\" target=\"_blank\" rel=\"noopener\"><u>Policymakers approved<\/u><\/a> another mega-sized, 75 basis point rate hike \u2014 triple the usual size \u2014 at their meeting in July and have since signaled they are &#8220;nowhere near&#8221; ending this tightening cycle, despite signs of a slowdown in the economy.<\/p>\n<p>While some parts of the economy appear to be softening \u2013 namely the housing sector \u2013 the labor market has proven to be a bright spot for months.\u00a0<\/p>\n<p>Job growth last month blew past expectations, with employers adding a stunning 528,000 new positions, pushing the unemployment rate to a historic low of 3.5%.<\/p>\n<p>However, there are signs that the labor market is starting to weaken. A plethora of companies, including Alphabet&#8217;s Google, Walmart, Apple, Meta and Microsoft, have announced hiring freezes or layoffs in recent weeks.\u00a0<\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 768px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/Jerome-Powell.jpg\" alt=\"Federal Reserve Jerome Powell in a suit w\" \/><\/div>\n<div class=\"caption\">\n<p><span>Federal Reserve Chairman Jerome Powell speaks to the Senate Banking, Housing and Urban Affairs Committee, as he presents the Monetary Policy Report to the committee on Capitol Hill, Wednesday, June 22, 2022, in Washington.<\/span><span> (AP Photo\/Manuel Balce Ceneta \/ AP Newsroom)<\/span><\/p>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/foxbusiness.com\/category\/jerome-powell\" target=\"_blank\" rel=\"noopener\">Fed Chairman Jerome Powell<\/a> last month described the labor market as &#8220;very hot&#8221; \u2013 and that was before the blowout July jobs report \u2013 but suggested that there will likely be some &#8220;softening in labor market conditions&#8221; as a result of higher interest rates. But he has remained optimistic that the unemployment rate won&#8217;t increase too much as the central bank aims to achieve the elusive soft landing.\u00a0<\/p>\n<p><a href=\"http:\/\/foxbusiness.com\/\" target=\"_blank\" rel=\"noopener\"><strong><u>CLICK HERE TO READ MORE ON FOX BUSINESS<\/u><\/strong><\/a><\/p>\n<p>&#8220;I also said that our goal is to bring inflation down and have a so-called soft landing, by which I mean a landing that doesn\u2019t require a significant increase, a really significant increase in unemployment,&#8221; he said. &#8220;We\u2019re trying to achieve that.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mainstay Capital Management founder and CEO David Kudla discusses his expectations for the July employment report and weighs in on markets on &#8216;Mornings with Maria.&#8217; Companies across<\/p>\n","protected":false},"author":1,"featured_media":1616589,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1616586","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1616586","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1616586"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1616586\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1616589"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1616586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1616586"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1616586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}