More than 1 million jobs cut this year

"More than 1 million jobs have been cut this year across several industries, with many companies downsizing their teams, resulting in redundancies. Redundancies can be incredibly challenging, and Ben Wright, Global Head of Partnerships at Instant Offices, has outlined the early indicators that one may be on the way and how employees can prepare in advance. Suddenly, there's no budget for training, software, travel, or development. When a company begins cutting these areas, it's often a sign that they've entered cost-saving mode."

"If a company stops replacing colleagues who leave who either on their own accord or are getting let go, it's a strong indication that something is brewing. Hiring freezes are often one of the earliest signals of financial pressure. When departments start merging or teams are reshuffled, it may be part of a genuine, planned change to improve performance and profitability."

Widespread job cuts and company downsizing have created significant redundancies across industries. Early indicators include sudden budget cuts for training, software, travel, and development as companies shift into cost-saving mode. Hiring freezes and failure to replace departing colleagues are common early warning signs of financial pressure. Department merges and team reshuffles can be legitimate performance moves but, when abrupt or poorly communicated, may signal role assessment and potential cuts. Some employers use quiet firing or quiet cutting to indirectly encourage voluntary departures, increasing confusion, resentment, and workloads for remaining staff.

Read at London Business News | Londonlovesbusiness.com