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Revoking Job Offers Is Becoming an Increasingly Common Cost-cutting Strategy

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the staff of the Ridgewood blog

Ridgewood NJ, Tech companies like Coinbase, Redfin, and Twitter have started to rescind job offers after record levels of hiring over the past two years. The practice of rescinding offers was last seen widely during the financial crisis. More leaders are seeing it as a feasible strategy, as it is better than laying off employees, despite the reputational risks. The phenomenon has so far been mostly restricted to extremely well-paid tech jobs for highly in-demand workers.

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