'Challenging year' | Days into 2023, thousands of workers face layoffs - how can HR manage this turbulent time?

It has been a difficult start to the year for many businesses. Having struggled with a range of problems throughout 2022, many are now finally at breaking point, and must make the unenviable decision to dispose of a chunk of their workforce.

Tech giants Amazon and Salesforce have recently announced substantial layoffs, with Amazon cutting 18,000 employees - a sizeable portion of which will be in the UK – the firm announced it will close three of its UK warehouses, putting up to 1,200 jobs on the line.

Elsewhere, Salesforce cutting 10% of its workforce, in addition to suggestions that more may be affected soon.

And after enjoying something of a boom period during the pandemic years, Goldman Sachs is offsetting falling profits by dispensing 3,200 staff members – roughly six percent of its workforce – which again will include many Brit employees. The company has rapidly expanded in recent years, adding 10,000 employees to its roster since December 2019.