TECH - Layoffs Are Out 'Reassignment' Is In: A New Trend? | Benzinga
Remember the sweeping layoffs the tech sector saw earlier this year? Some 937 tech companies laid off roughly 232,600 employees, with heavyweights such as Meta Platforms Inc (NASDAQ:META) and Microsoft Corp (NASDAQ:MSFT) cutting upwards of 5% of staff.
It seems that trend may be replaced with a different one as companies try to retain top talent.
What Happened: U.S. companies are increasingly opting for “reassignment” of employees to different roles within the company, rather than laying them off.
The new approach was especially notable among tech giants and retail companies such as Adidas AG – ADR (OTC:ADDYY), Salesforce Inc (NYSE:CRM), IBM (NYSE:IBM), and Adobe Inc (NASDAQ:ADBE).
Layoffs were down 8% in ...