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Consumer Executives Expect Layoffs in 2023 as Labor Shortage Eases

Deloitte survey shows a majority of participating employers don’t plan on increasing hiring, while a quarter say they’ll reduce their workforce. 

A recent survey offers more evidence that consumers’ appetite for material goods is moderating.

A recent survey offers more evidence that consumers’ appetite for material goods is moderating.

Photographer: Darren Staples/Bloomberg

The chronic labor shortage in the US and European consumer-goods industry is likely over, according to a Deloitte survey.

More than half of executives polled by the consulting firm say that the labor shortages of recent years will end in six months — or have already resolved. Almost 70% of respondents said they won’t increase their rate of hiring and might even curb it. One in four plan layoffs, the survey found.