Healthcare is about to break a record that it doesn't really want to break: the record in the past 10 years for the most mass layoffs.
Mass layoffs are defined as actions involving 50 employees from one employer. The highest number of mass layoffs in a year was in 2005, which saw 585 mass layoffs. As of October 31, healthcare employers have perpetrated 511 mass layoffs.
The industry has already passed the number of average annual mass layoffs for the last 10 years, which has been 463. And unless something changes for the better soon, we're about to set that new record. No one wants to see that.
To learn more about mass layoff statistics:
- read this Modern Healthcare piece