Impact of Layoffs on Employees and Their Families
In today's ever-changing economic landscape especially after COVID , companies are forced to make difficult decisions that can have a devastating impact on their workforce. One such decision is the heart-breaking choice to lay off employees. While layoffs may be essential for a company's survival, they can have a profound impact on affected employees and their families, leaving them feeling overwhelmed and uncertain about their future. The impact of a layoff cannot be understated. It not only causes significant financial strain but also takes an immense emotional toll. " Losing a job means losing more than just income and healthcare benefits; it means losing one's identity, sense of belonging, and purpose. A sudden loss of income can put a strain on the entire household, causing anxiety and stress. " In some cases, it can even lead to financial hardship, forcing the family to make difficult decisions about necessities such as food and housing. While layoffs may ...