![]() ![]() If you look for reasons for why companies do layoffs, the reason is that everybody else is doing it. The tech industry layoffs are basically an instance of social contagion, in which companies imitate what others are doing. Why are so many tech companies laying people off right now? This interview has been edited for length and clarity. His recent book Dying for a Paycheck: How Modern Management Harms Employee Health and Company Performance–And What We Can Do About It (Harper Business, 2018) looks at how management practices, including layoffs, are hurting, and in some cases, killing workers. He’s met with business leaders at some of the country’s top companies and their employees to learn what makes – and doesn’t make – effective, evidence-based management. Dee II Professor of Organizational Behavior, has studied hiring and firing practices in companies across the world. ![]() Severance packages cost money, layoffs increase unemployment insurance rates, and cuts reduce workplace morale and productivity as remaining employees are left wondering, “Could I be fired too?”įor over four decades, Pfeffer, the Thomas D. Academic studies have shown that time and time again, workplace reductions don’t do much for paring costs. Moreover, layoffs don’t work to improve company performance, Pfeffer adds. Most problematic, it’s a behavior that kills people: For example, research has shown that layoffs can increase the odds of suicide by two times or more. When a few firms fire staff, others will probably follow suit. Here, Stanford News talks to Pfeffer about how the workforce reductions that are happening across the tech industry are a result mostly of “social contagion”: Behavior spreads through a network as companies almost mindlessly copy what others are doing. What explains why so many companies are laying large numbers of their workforce off? The answer is simple: copycat behavior, according to Jeffrey Pfeffer, a professor at the Stanford Graduate School of Business. ![]() This poll is accurate.Recent layoffs across the tech sector are an example of “social contagion” – companies are laying off workers because everyone is doing it, says Stanford business Professor Jeffrey Pfeffer. The precision of Ipsos online polls is measured using a credibility interval. For this survey, a sample of 1,004 Canadians aged 18+ was interviewed. The information and/or data may only be rebroadcast or republished with full and proper credit and attribution to “Global News Ipsos.” This poll was conducted between December 14 and 16, 2022, on behalf of Global News. With files from Rachel Gilmore and Sean BoyntonĮxclusive Global News Ipsos polls are protected by copyright. The report estimates food prices will increase by another five to seven per cent on average next year, adding hundreds of dollars to the average family’s annual expenses. The latest Canada Food Price Report released in December 2022 suggests that Canada will see a continued rise in food prices in 2023. Band-Aid solution: Justin Trudeau spotted with bandage on forehead in HamiltonĪround one-quarter (23 per cent) say “they are not engaging in any actions to save money, a sign that some may have been able to adequately weather the economic storm 2022 has presented (to) many.”.Wave of strikes in Canada could cause ‘knock-on effect’ in other sectors, experts warn.Quebec trucking company ordered to reinstate driver fired for drinking and driving.All governments must hold Calgary Stampede accountable after sex abuse settlement: MP.“It’s more like a fragile, tentative, cautious optimism, maybe even more of a hope than a real sense of grounded optimism about how the year is going to transpire,” Ipsos Public Affairs CEO Darrell Bricker told Global News in an interview. READ MORE: How to eat healthy amid rising food costs? Expert says plant-based ‘all the way’ Their responses suggest that six in 10 (61 per cent) are optimistic about 2023, but this is largely driven by the large portion of those who say they are “somewhat” optimistic (51 per cent) rather than those who are “very” optimistic (10 per cent), according to the survey. 14 and 16 and surveyed 1,004 Canadians 18 years old or older. The Ipsos poll conducted exclusively for Global News was done between Dec. Most Canadians, particularly younger ones, say they feel optimistic about 2023 overall and are likely to set resolutions for the new year, but when it comes to key issues like financial security and reconciliation with Indigenous communities, some are divided, according to a new poll from Ipsos. ![]()
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