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Majority of Companies (72%) Admit to Not Having Comprehensive Plans in Place Before Layoffs, According to New Fiverr Research

NEW YORK, June 20, 2024 (GLOBE NEWSWIRE) — To help both companies and employees navigate the complexities of work during a time of mass layoffs, today, Fiverr (NYSE: FVRR) released new research aimed at identifying what managers were considering during and after recent layoffs and how they are supporting teams in the aftermath.

In the first quarter of 2024 alone, 250,000+ employees were laid off across the United States. The research, Layoffs: In the Boardroom with Decision Makers, found that 72% of leaders surveyed who played a role in layoff decisions over the last six months, admitted to not having a comprehensive plan in place for their remaining employees. Many admitted concern about the impact layoffs would have on their team’s stress/burnout (89%1) as well as employee morale around overall job security (91%1).

“The findings showcase how companies are seeing the value of freelancers beyond reducing the workload,” said Matti Yahav, Chief Marketing Officer at Fiverr. “From filling skill gaps to boosting morale among remaining employees, and perhaps even playing a role in lessening the possibility of future layoffs, this shift cements a place for freelancers as an integral part of a company’s long-term structure.”

Key findings from Layoffs: In the Boardroom with Decision Makers include:

How managers decided which roles to layoff:

How executives are supporting their employees post-layoff:

How business leaders overwhelmingly admitted to feeling concerned about team impact:

In relation to the new non-compete ban, an average of 34% of respondents shared that they are not willing to offer any additional benefits including higher salaries or bonuses, flexible working hours, flexible working location, or more PTO to retain or hire key talent.

Fiverr’s Layoffs: In the Boardroom with Decision Makers survey was conducted by Censuswide. Insights were provided by 1,001 managers, business leaders, and decision-makers who are doing or have done layoffs within the past six months. All respondents work at mid-to-large sized companies with 250+ employees, in industries including technology, finance, legal, entertainment, healthcare, architecture, manufacturing, and retail across the US. The data was collected between May 17, 2024 and May 24, 2024. Censuswide abides by and employs members of the Market Research Society and follows the MRS code of conduct and ESOMAR principles. Censuswide is also a member of the British Polling Council.

1 ‘Very concerned’ and ‘Somewhat concerned’ answers combined.

About Fiverr
Fiverr’s mission is to change how the world works together. We exist to democratize access to talent and to provide talent with access to opportunities so anyone can grow their business, brand, or dreams. From small businesses to Fortune 500, over 4 million customers worldwide worked with freelance talent on Fiverr in the past year, ensuring their workforces remain flexible, adaptive, and agile. With Fiverr Business Solutions, large companies can find the right talent and tools, tailored to their needs to help them thrive and grow. On Fiverr, you can find over 700 skills, ranging from AI, to programming and 3D design, digital marketing to content creation, from video animation to architecture.

Don’t get left behind – come be a part of the future of work by visiting fiverr.com, read our blog, and follow us on Instagram, and Facebook.

Media Contacts:
Siobhan Aalders
Jenny Chang
press@fiverr.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5ae74edf-1fd7-456f-9b94-607984e1d9a6


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