Companies Look to Cut Costs With Hiring Freezes

Hiring freezes are the top cost-containment strategy being employed by organizations as the COVID-19 pandemic ravages the U.S. economy, according to a new survey by Willis Towers Watson. Groove Management’s Brian Formato Formato said that reclassifying the action as a headcount freeze—meaning that the organization maintains its current number of full-time equivalent workers—is a better approach.