The Surprising Long Term Impact of Layoffs on Company Performance & Employee Experience.

Culture First with Damon Klotz

This is the second part of a two-part series on layoffs and their impact on the employee experience. The episode focuses on the long-term impact of layoffs, based on research conducted by Culture Amp. The study analyzed data from layoffs in the tech sector between March 2020 and December 2023, including over 3,300 layoff events by 2,400 companies.

Chapters

03:30 - Rebounding After a Layoff

07:00 - How Long It Takes to Rebound

11:46 - Determinants and Drivers of Engagement Post Layoff

18:50 - The Impact of Second Layoffs

22:01 - Main Takeaways and Conclusion

During this episode, we discussed the health impacts of layoffs on individuals. You can read more about that below.

Medical studies have shown that the trauma of unemployment causes disease. One study found that being laid off ranked seventh among the most stressful life experiences — more stressful than divorce, a sudden and serious impairment of hearing or vision, or the death of a close friend.

Experts say that it takes, on average, two years to recover from the psychological trauma of losing a job.

Source: https://www.latimes.com/opinion/story/2023-01-17/tech-layoffs-stress-trauma-unemployment-economy#:~:text=One%20study%20found%20that%20being,trauma%20of%20losing%20a%20job.

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