Technological advancements are predicted to automate certain tasks, hence, companies cut costs by laying off the workers.
When two companies merge or acquire each other, their workforces may overlap, resulting in layoffs as the joined business optimises its operations.
Due to economic downturns often result in reduced demand, leading to revenue deficits and potential layoffs to cut costs.
Companies may undergo restructuring due to market changes or technological advancements, potentially leading to layoffs.
They may fire employees for poor performance or misconduct, a last resort following failed attempts to improve performance or unethical behaviour.
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