Almost 20 Percent of US Firms Plan to Fire Employees: NABE Survey

People looking for work at a recruiter's desk setup at a job fair in the James L. Knight Center, in Miami, Fla. Joe Raedle/Getty Images

Roughly a fifth of American companies are looking to scale down their workforce in the coming months as businesses come under pressure of low margins, with many foreseeing an economic recession, according a January survey by the National Association for Business Economics (NABE).

According to the survey, almost 20 percent of respondents expect employment at their firms to fall in the coming months. “For the first time since 2020, more respondents expect falling rather than increased employment at their firms in the next three months. Fewer respondents than in recent years expect their firms’ capital spending to increase in the same period, said NABE president Julia Coronado, founder and president of MacroPolicy Perspectives LLC, according to a post by the NABE.