Companies Prioritize Efficiency As Job Market Cools, Workers Lose Leverage
• Efficiency and productivity likely to be top priorities for companies in 2024 as job market cools and gives employers upper hand
• CEOs pushing workers to do more with less through cost cuts and headcount reductions
• Wayfair CEO encourages employees to work longer hours and "blend work and life" to boost productivity
• Number of planned job cuts jumped 98% in 2023 as bonuses dried up and pay premiums for switching jobs evaporated
• Workers have less leverage as labor market balance of power shifts back towards employers