Most economists agree that a recession will be declared this year, and many of the largest employers in the United States have already prepared.
That’s why we’ve seen mass layoffs and hiring freezes over the past six months, especially in California. “A hiring slowdown is inevitable because the market was moving so rapidly that it simply wasn’t sustainable at that pace,” says Megan Smith, vice president and head of HR for North America at SAP, a global technology giant based in Germany.