CNNMoney.com
Companies Economy International Corrections Pre-market Trading After-hours Trading Winners/Losers/Actives Bonds Currencies Commodities World Markets Subscribe to Real Money Newsletter Subscribe to Money Magazine Money Magazine Real Estate Taxes Jobs Ask the Expert Money 101 Autos Mutual Funds The Help Desk Loan Center Best Places to Live Subscribe to Money Magazine Ask the Expert Ultimate Guide to Retirement Retirement Calculators Rules of Retirement Best Funds Best Places to Retire Fortune Brainstorm Tech Apple 2.0 Blog Big Tech Blog Sectors and Stocks Tech Talk Questions & Answers Innovation Nation Small Business Video 50 Best Places to Launch Resource Guide Next Little Thing Subscribe to Fortune Magazine Fortune 500 Brainstorm Tech Investing Management Executive Interviews Rankings Main Create Portfolio Edit Portfolio Create Alerts Edit Alerts
Special Report Your Job

Laid off workers get their jobs back

After getting laid off, a number of workers are going back to work - for their old employer.

EMAIL  |   PRINT  |   SHARE  |   RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
By Jessica Dickler, CNNMoney.com staff writer

chart_job_losses_070209.03.gif
Has the recession caused you to change your spending and saving habits?
  • Yes, permanently
  • Yes, but only for a short time
  • No

NEW YORK (CNNMoney.com) -- More than 550 laid-off production line workers in Pennsylvania finally got some good news. Oshkosh, the truck maker who gave them their pink slips, is now hiring them back.

Oshkosh isn't the only company calling back it's previously laid-off workers. Nearly a fifth of displaced employees return to the company that issued their pink slip, a survey said Tuesday.

Eighteen percent of laid-off workers who landed new positions were rehired by the same employer that let them go, up from 13% in 2005, according to Right Management's outplacement services, a division of Manpower.

More than 17,000 outplacement candidates were surveyed by Right Management between June 2008 and June 2009.

"In some instances, organizations are realizing that they may have cut too deep and are bringing people back in consulting roles or for project work," Melvin Scales, senior vice president for global solutions at Right Management, said in a statement.

"Former employees have the organizational knowledge and skills to jump back into roles quickly to get the job done," Scales said.

But redundant firing and hiring can be disruptive to workforce performance and costly for the company, particularly in the form of severance payments, he noted.

Scales recommends that employers consider redeploying workers as an alternative to layoffs. "It's a way of leveraging the skills and talents of existing employees and reassigning them to new roles within the organization. It provides an opportunity to retain valued talent, reduce the cost of turnover and leverage knowledge transfers within the company," he said.

Previous research conducted by Right Management found that only one in two employers offer redeployment before layoffs.

The battered U.S. labor market has witnessed severe job cuts across the board over the course of 2008 and 2009.

Nearly 3.4 million jobs have been lost already in the first half of 2009, more than the 3.1 million lost in all of 2008. To top of page

Features
  • hollywood_sign.gi.04.jpg
    Silver lining of the housing bust: A protectionist group was able to buy the land around the iconic sign. More
  • european_ave_train.04.jpg
    Trains of the future are likely skipping you. Despite grand government plans, funding is small.  More
  • exterior.04.jpg
    Broadway star Scarlett Johansson is selling her L.A. pad for $2 million less than she paid. More
  • john_thain_100111.gi.04.jpg
    Former Merrill Lynch CEO John Thain is being asked to work his magic on small business lender CIT. More
  • challenger_fuscia.04.jpg
    It's Dodge's new tough-guy color for the Challenger muscle car. More
  • vanessa_corey.04.jpg
    Lenders are collecting from owners like Vanessa Corey even after a short sale or foreclosure. More
  • wild_things.04.jpg
    The $10 electronic hamsters were last year's monster hit. Meet the encore. More
Markets Last Change
Dow Jones 10,058.64 150.25 / 1.52%
Nasdaq 2,150.87 24.82 / 1.17%
S&P 500 1,070.52 13.78 / 1.30%
10-year Bond 97 29/32 Yield: 3.62%
U.S.Dollar 1 euro = $1.374 -0.005
February 9, 2010 12:00 AM ET
CompanyPrice% Change
UAL Corp 15.38 17.67%
AMR Corp 8.27 12.98%
Continental Airlines Inc 19.23 10.79%
US Airways Group Inc 6.43 8.43%
Feb 9 3:54pm ET †
More Galleries
10 sages read the future of print What becomes of the printed word? What's the fate of companies that produce periodicals and books? Here's what 10 media and tech luminaries think. More
Buy Scarlett Johansson's hilltop manse Even starlets are subject to the faltering real estate market. Just three years after buying her Los Angeles home, Johansson is selling it for $2 million less than she paid. More
I stopped looking for work The number of discouraged job seekers is at an all time high. These readers tell us what it's like to give up on the job search. More
Sponsors

© 2010 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy. Advertising Practices.
Copyright © 2010 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Intraday data is at least 20-minutes delayed. All times are ET.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Morningstar, Inc..
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.