White-Collar Job Cuts: Why Middle Management Jobs Are Disappearing [Forbes]
ZipRecruiter, Inc. Class A (ZIP)
Company Research
Source: Forbes
Amidst a growing desire to flatten organizations, companies are cutting in the middle and eliminating white collar jobs. According to recent data from the Bureau of Labor Statistics, nearly 500,000 jobs in professional and business services were eliminated in September 2024 alone—the most significant cuts in nearly two years. This trend is part of a broader shift: the shrinking of white-collar opportunities and restructuring the future of work. Reasons Behind the White-Collar Job Cuts Professional and business services, encompassing roles like accountants, consultants, and legal workers, have faced significant layoffs in 2024. These roles accounted for 3.7 million of the nearly 14.9 million layoffs nationwide through the year's first nine months, according to the U.S. Bureau of Labor Statistics. Julia Pollak, Chief Economist at ZipRecruiter, highlighted two potential causes. First, the cyclical economic impact of high interest rates and restrictive monetary policy has hindered i
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