Layoffs Target Remote Workers More Than In-Office Staff

Posted under: SMB
Date: 2024-02-27
Layoffs Target Remote Workers More Than In-Office Staff

A report by Bloomberg News suggests that the white-collar labor market has cooled, leading companies to scale back their work-from-home offerings. The report cites Live Data Technologies, which found that fully remote staff were more likely to be cut last year than those who worked in office. The share of postings for fully remote jobs on LinkedIn fell over nine percentage points between the beginning of 2022 and the end of 2023. The average in-office attendance requirement among Fortune 100 companies is now 3.1 days. Many companies, including Wall Street's banks, have returned to five days a week in their office schedules, while others are still fully in remote/hybrid mode. Executives argue flexibility attracts and retains workers, especially in smaller cities and with young children. Anxiety may be misplaced, as full-time in-office attendance fell from 49% in Q1 2023.

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