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Companies announced nearly 90,000 layoffs in March, a significant increase from the prior month and a considerable acceleration from last year, outplacement firm Challenger, Gray & Christmas reported recently.
The tech industry, in particular, has been brutally hit, with over 100,000 cuts in 2023, according to the report, and it looks like it will beat 2001, the worst year ever amid the dot-com bust. We are seeing layoffs in the business, tech and within law firms.
No industry is immune from layoffs in a global (and shrinking) economy, and law firms must prepare for this highly delicate situation to hit home. A layoff is a loss of talent, leaving the unintended consequences of mistrust and fear among a company's remaining workers. Handling layoffs from a PR and crisis management perspective requires sensitive, transparent and clear communication.
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