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Layoffs Are in the Works at Half of Companies, PwC Survey Shows

  • More than half are freezing hiring, others rescinding offers
  • Contradictions abound, with pay hikes and remote work for some
A businessman with a box full of desk stuff

Photographer: Daniel Grill/Tetra Images/Getty Images

If your organization isn’t letting people go, the one next door probably is.

That’s a key finding from a survey released Thursday by consultant PwC, which last month polled more than 700 US executives and board members across a range of industries. Half of respondents said they’re reducing headcount or plan to, and 52% have implemented hiring freezes. More than four in ten are rescinding job offers, and a similar amount are reducing or eliminating the sign-on bonuses that had become common to attract talent in a tight job market