Affected by the organization laying off these employees are as follows: te employee laid off (and their respective households), te organization that laid off employees, ad the government. Te tabular illustration highlights the effects: Te massive layoffs of employees create negative economic impacts to all sectors of society: fom the individual, t their household, te organization and to the local or federal government. A deduced, lying off of massive numbers of employees by private or public organizations are seen as resulting from financial difficulties. A such, eployees who off would have lesser income to purchase goods and services offered by private or public organizations.
I turn, tese people remit lesser taxes to the government and exhibit higher rates of unemployment. Te current event on massive layoffs disclosed that “Warner Bros. o Tuesday began layoffs that will ultimately eliminate about 1,000 jobs, o 12. 5percent of the studio’s total staff, a it tries to increase profitability in the face of weak domestic box-office sales and a challenged television business” (Barnes, 2014, p The news item corroborated the contention are resorted to by organizations to increase profits.
pying the required taxes and the local or federal government that is the recipient of these taxes. Tus, te decrease in taxes could be deduced as creating a positive effect to the individual and organizations required to pay them since it would mean increased income for them which could be used for purchase of other goods and services. O the other hand, o the part of the governments (local and federal), adecrease in taxes would mean lesser revenues which should earmarked government programs and projects.
A such, athough people could initially view a decrease in taxes as positive in the short run, atually, te long-term impact would mean lesser benefits for public health care, porer roads and infrastructures, dminished educational programs, ad inefficient public services. Te current events on decrease in taxes revealed that “tax rate cuts may encourage individuals to work, sve, ad invest, bt if the tax cuts are not financed by immediate spending cuts they will likely also result in an increased federal budget deficit, in the current discourse successfully presented the three (3) categories of economic activities that impact governments, huseholds, ad businesses.
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