To reduce payroll costs, increase productivity and keep full-blown staff cuts to a minimum, some companies are trying worksharing -- a process that involves laying off people part time.
Under worksharing programs, employees retain full benefits and will be rehired full time when the company regains its footing. For some workers, this is enough incentive to remain, even though they earn less money than before. But others might seek new positions.
Worksharing is recognized in 18 states and allows workers to collect unemployment only for the hours they've lost. Several states have reported a jump in the number of worksharing programs, but companies need to weigh several factors before deciding on such a plan.
Published in Brief: