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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.

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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.But Andrew Challenger, senior vice president at the firm, said he expects more cuts going forward.

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.

 

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