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View All NewsEmployees Expect Pay Cuts, Layoffs in 2012
Nearly half of U.S. workers, 48 percent, believe their companies will cut benefits next year and 41 percent believe their companies will lay off workers, according to a new employee attachment survey released today by Randstad.
Nineteen percent of the respondents believe it is likely they will lose their jobs, 24 percent say it is likely they will get a pay cut, and 76 percent do not expect a promotion. Nevertheless, 74 percent of the workers surveyed believe their companies have great futures. Further, 24 percent of employees are willing to lose their bonuses or work longer hours to keep their current jobs.
Additionally, 46 percent believe the job market will improve in 2012, and 47 percent plan to explore other job opportunities as soon as the job market does pick up.
“With the continued ups and downs of the economy, U.S. workers report very mixed expectations for 2012,” said Joanie Ruge, senior vice president and chief employment analyst for Randstad US. “We’re seeing about half of the workers surveyed are very positive about their companies and even their current jobs, but the other half are very nervous about maintaining their employment and benefits. Workers are indicating that they are uncertain about the New Year and many are taking precautions such as cutting back on expenses and putting more towards savings just in case.”

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