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At least half of the companies worldwide are planning to lay off people, most are reducing bonuses and rescinding job offers amid the economic downturn, a new report has warned. According to the latest <keyword id="53186" type="General" weightage="80" keywordseo="pwc" source="Orion">PwC</keyword> 'Pulse: Managing business risks in 2022' survey in the US, 50 per cent of respondents are reducing their overall headcount, even as business leaders remain concerned about hiring and retaining talent. "At the same time, respondents are also taking proactive steps to streamline the workforce and establish the appropriate mix of worker skills for the future," said the report that came out on Thursday. This comes as no surprise, after a frenzy of hiring and a tight labour market over the past few years, as "executives see the distinction between having people and having people with the right skills". "For example, 50 per cent of all respondents are reducing their overall headcount, 46 per cent are dropping or reducing signing bonuses and 44 per cent are rescinding offers," the report revealed. More than 32,000 tech workers have been laid off in the US till July, including at Big Tech companies like Microsoft and Meta (formerly Facebook), and the worst has not been over yet for the tech sector that has seen massive stock sell-off. In India, more than 25,000 startup workers have lost jobs since the pandemic began -- and more than 12,000 have been fired this year. The PwC report mentioned that these precautionary actions are more in certain industries. "Consumer markets and technology, media and telecommunications companies, for example, are more likely to invest in automation to address labour shortages," the PwC report mentioned. At the same time, healthcare is seeing bigger talent challenges than other industries and is more focused on rehiring employees who have recently left. The global consulting firm last month polled more than 700 US executives and board members across industries. With increasing economic uncertainty, 83 per cent of executives are focusing their business strategy on growth. That uncertainty has become the standard with business leaders feeling cautiously optimistic about their ability to navigate future economic, social and geopolitical uncertainty. "On the whole, this generation of corporate leaders have minimal experience navigating a recession, yet with the possibility of one looming amid increasing geopolitical divides and skyrocketing inflation, they are bullish on their ability to handle what could be ahead," said <keyword id="14759714" type="General" weightage="80" keywordseo="kathryn-kaminsky" source="Orion">Kathryn Kaminsky</keyword>, vice <keyword id="6415823" type="General" weightage="80" keywordseo="chair" source="Orion">chair</keyword>, trust solutions co-leader, PwC US. "Looking forward, executives will need to continue adjusting their business strategy and investments to mitigate risks and capitalise on growth opportunities," <keyword id="3852038" type="General" weightage="80" keywordseo="kaminsky" source="Orion">Kaminsky</keyword> added. Nearly two-thirds of businesses (63 per cent) have changed or are planning to change processes to address labour shortages, up from 56 per cent in January 2022. "Ironically, as businesses pivot even more towards automation, it's critical to find employees with the right combination of deep functional knowledge and technology know-how. Without the right talent, automations can fail to deliver on promised efficiencies and increase operational risk," the report noted. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/edtech-startup-sunstone-raises-35-mn-in-funding-round-led-by-westbridge-capital/articleshow/93658391.cms">Edtech startup Sunstone raises $35 mn in funding round led by WestBridge Capital</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/indias-first-electric-double-decker-bus-launched-in-mumbai-to-foster-sustainability-in-transport-sector/articleshow/93654255.cms">India’s first electric double-decker bus launched in Mumbai; to foster sustainability in Transport Sector</a>

50% of companies planning job cuts amid economic downturn: Report

<ul><li>While the S&amp;P 500 has generated an annualized return of 7.5% over the past two decades, the average investor has only seen a return of 2.9%, according to JPMorgan.</li><li>Now a study from MIT helps reveal which investors are <keyword id="12198205" type="UNKNOWN" weightage="60" keywordseo="panic-selling" source="Orion">panic selling</keyword> at the worst possible time.</li><li>According to MIT, men over the age of 45 who identify as having "excellent <keyword id="11896289" type="UNKNOWN" weightage="60" keywordseo="investing" source="Orion">investing</keyword> experience" are more likely to panic sell than other cohorts.</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</li></ul>Panic selling during <keyword id="11895235" type="UNKNOWN" weightage="60" keywordseo="stock-market" source="Orion">stock market</keyword> corrections can be detrimental to the long-term returns of an individual investor, as both the best days and worst days in the market tend to happen in clusters that are extremely difficult to time.That's why over the past two decades, while the S&amp;P 500 generated an annualized return of 7.5%, the average investor only saw a gain of 2.9%, according to data from <a href="https://markets.businessinsider.com/stocks/jpm-stock">JPMorgan</a>.Now, <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3898940">a study from MIT</a> has identified the cohort of people that are most likely to panic sell at the worst possible time: men over the age of 45 who are either married or identify as having "excellent investing experience." Cohorts with more dependents or an account size of less than $20,000 are also more likely to "freak out" and panic sell.The MIT paper analyzed the <keyword id="6368158" type="UNKNOWN" weightage="60" keywordseo="trading" source="Orion">trading</keyword> behavior of more than 600,000 brokerage accounts attached to more than 200,000 households to identify who is selling and potentially be able to predict when they might sell in the future. And while an individual investors' initial panic sale can prevent future losses in the ensuing days and weeks, the study found that the biggest detriment to portfolio performance is the reluctance of the individual to buy back into the stock market when the fundamental outlook may still look challenging. "We measure the opportunity of cost of panic sales and find that, while freaking out does protect investors during a crisis, such investors often wait too long to reinvest, causing them to miss out on significant profits when <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> rebound," wrote Daniel Elkind, Kathryn Kaminski, Andrew Lo, and colleagues.The study defined a panic sale as a 90% decline in a household's stock portfolio over a one-month period, of which 50% of the decline can be attributed to trades. While the study does not define the "why" behind the panic selling trades, any human who has ever put money into a stock or ETF likely knows the gut punch feeling of a 20%, 30%, or even 50% decline in their portfolio value, and the resulting temptation to cut losses and get out. Those human emotions have not changed in centuries of investing and stock market speculation, and they're likely to continue as a constant wave of uncertainty clouds markets."Panic selling and freaking out are distinct behavioral patterns in <keyword id="11895316" type="UNKNOWN" weightage="60" keywordseo="finance" source="Orion">finance</keyword> that differ from other previously studied patterns" like over trading, the study concluded.

Men over 45 who identify as having 'excellent investment experience' are more likely to panic sell during a market downturn, MIT study finds

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50% of companies planning job cuts amid economic downturn: Report

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Men over 45 who identify as having 'excellent investment experience' are more likely to panic sell during a market downturn, MIT study finds

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