Everyone kept saying that we are not in a recession because of the job market.
Well, that’s a lagging indicator. So here you go.
- More than half are freezing hiring, others rescinding offers
- Contradictions abound, with pay hikes and remote work for some
If your organization isn’t letting people go, the one next door probably is.
That’s a key finding from a survey released Thursday by consultant PwC, which last month polled more than 700 US executives and board members across a range of industries. Half of respondents said they’re reducing headcount or plan to, and 52% have implemented hiring freezes. More than four in ten are rescinding job offers, and a similar amount are reducing or eliminating the sign-on bonuses that had become common to attract talent in a tight job market.