2023 layoffs will continue to affect employee morale in 2024, economist says

2023 was a year of layoffs. Over 305,000 U.S. workers were laid off over the year in a series of mass layoffs that started most notably with tech companies, but then spread across industries.

“Many businesses had to make tough decisions to reduce their headcounts, especially with the economic uncertainty of early 2023,” Aaron Terrazas, chief economist at Glassdoor, tells CNBC Make It. But with the mass layoffs came a drop in employee satisfaction and engagement, and increasing pressure put on middle managers, that Terrazas predicts will persist into 2024.  READ MORE