Companies’ attitudes toward layoffs are changing — here’s why

Companies aren't as quick to the layoff trigger these days.

Why it matters: It's good news for workers. Layoffs are traumatic life events that can take years to recover from financially.

And it's one reason the labor market has held up better than economists expected after the Federal Reserve started hiking interest rates.

Flashback: When the pandemic hit, employers were quick to fire — laying off many people — more than 13 million in March 2020 alone, the highest number over the past 24 years. (At the height of the Great Recession, the number hit 2.7 million.)

But in the recovery that followed, re-hiring proved daunting.