Technology, construction industries hardest hit by employee terminations
According to research conducted by Capterra, Quebec had the highest number of layoffs in 2023. The study surveyed employees from small and medium-sized organizations, and 31% reported experiencing job reductions within the past year. Provincially, Quebec had the highest percentage of layoffs at 36%, followed by British Columbia at 32% and Ontario at 30%. The construction and technology industries were particularly affected by layoffs.
When asked about the pace of layoffs, 41% of respondents said it had increased compared to the previous year, while 26% reported a decrease, and 29% stated that the pace had remained unchanged.
The main reasons cited for job losses were cost-cutting (46%), a slowdown in operations (35%), a decrease in available funds (21%), outsourcing (14%), and mergers (11%). Interestingly, 10% of respondents were not provided with any reasons for the layoffs by their employers.
Regarding support for terminated employees, 37% of respondents stated that their company offers support after layoffs, while 30% said their company did not provide any support. A significant portion (33%) were unsure if their organization offered support.
The survey also highlighted that many organizations lack a formal offboarding process. Only 26% reported having an exit strategy, while 45% stated that no strategy was in place, and the remaining respondents were unaware of such a process existing within their organization.
Full article by HR Reporter here : Which province had the most layoffs in 2023? | Canadian HR Reporter