Although layoffs have been hovering at historically low levels in the U.S., that doesn’t mean they are rare. For instance, in March 2024, over 1.5 million people were laid off or discharged from their jobs. Although economists don’t seem worried about the current layoff rate, employers continue to face complex challenges that can lead to workforce disruption and restructuring. So it pays to think ahead. Letting go of team members is never easy. For affected employees, the financial hardship is obvious. But the emotional toll often runs deeper. Stress, anxiety, and damaged morale can linger long after severance checks are cashed.