Workers could be affected by end-of-year layoffs
Thousands of workers in the United States have been affected by layoffs this year, and job cuts may increase from early December until the rest of the year. Layoffs will depend on the financial environments and decisions of each individual company. The United States labor market continues to remain tight, and there are more job openings compared to unemployed individuals. Outplacement firms have stated that layoffs have increased recently, and they have increased services to match unemployed individuals to job openings. Major companies are required to file a layoff notice because of the WARN federal act, and this provides approximately a two-month heads up to workers that will be affected by layoffs. Companies are not required federally or provide severance pay and benefits to employees unless they fail to file a WARN notice. Failure to file a WARN notice will require companies to provide workers with standard pay and benefits during the two-month notice period.
See "Workers could be affected by end-of-year layoffs", Jeanne Sahadi, CNN, November 29, 2023