Layoffs can be part of running a small business. Some tips for owners on handling them

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With stubborn inflation and higher costs, layoffs at small businesses are sometimes a necessity. U.S.-based employers announced 64,789 cuts in April, down 28% from 90,309 cuts announced in March, according to a report by global outplacement and business and executive coaching firm Challenger, Gray & Christmas, Inc.

FILE - In this March 27, 2020, file photo, a man walks past the Cafe Du Monde restaurant, which was closed but has since reopened, in the French Quarter of New Orleans. With stubborn inflation and higher costs, layoffs at small businesses are sometimes a necessity. U.S.-based employers announced 64,789 cuts in April, down 28% from 90,309 cuts announced in March, according to a report by global outplacement and business and executive coaching firm Challenger, Gray & Christmas, Inc.

Some states have their own WARN act with different rules. For example, New York State’s WARN Act applies to private businesses with 50 or more full-time employees in New York State.Supreme Court leaves in place Avenatti conviction for plotting to extort up to $25M from Nike Next, craft a layoff plan. Choose a date for the layoffs and a date for notification. Send a notification to employees privately, and avoid doing more than one round of layoffs if possible.

Make sure you’re clear on the reason for the layoffs and update staffers on severance, unemployment benefits and COBRA health insurance. You also could offer to write a letter of recommendation for the employee.

 

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