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Abstract
The prime purpose of this study is to find out the factors affecting layoffs and its relationships in high-tech industries in the USA. Layoff is a planned elimination of positions or jobs frequently happened in high-tech industries where employees losses their employment during a 30-days period. For the research, n=125 (1000·12.5%) data collected through online questionnaire from layoff survivors in high-tech firms in the USA. Corellation and regression analysis conducted to expresses the relation and linear combination of underlying factors associated with layoff in high-tech industry. Results show that high-tech industry in USA downsizes its employees due to five factors like business demand, organizational change, financial issues, production specification and layoff announcement reason. Among them Financial Issues and Organizational changes are highly responsible for Layoff. It is suggested that management should notify employees before reasonable time duration so that they can search for new jobs. Further research can be done to find out the effect of layoff on organizational performance in high-tech industry in USA.
Keywords: Financial Issues, High-tech Industry, Layoff, Management, Organizational Changes.
1. INTRODUCTION
The layoff is a trending part of todays fast-growing high-tech business especially in USA. It is the planned exclusion of positions or jobs (Cascio, 1993). High-tech industries are an important part of the USA economy, employing nearly 17 million workers in 2014. While its counted about 12 percent of total employment, the high-tech sector contributed almost 23 percent of output but today's major issue is Layoff that increases day by day and this study focusing on factors affecting layoff in the high-tech industry in the USA. Different types of layoff happening like one time or partial layoff for startup, venture capital business, and mass layoff recurring frequently in the high-tech industry. It is defined as a reduction in workforce that is not the result of a plant closing but leads to an employment loss at the employment site of 500 or more employees during a 30-day period or a loss of 50-499 employees if they make up at least 33% of the employers. Layoff has negative impacts on workers employment position and sometimes losses wages. On the other hand, it has also negative outcomes that persist over time in the organization.
According to an economic news release...