Companies that cancel job offers at the last moment obliterate the career dreams of recruits with a few keystrokes. It may reflect desperation, carelessness, or both. UK fintech Revolut has revoked job offers to some graduate recruits. Twitter, Redfin and Coinbase have made similar moves.
Other businesses are rethinking how many workers they need. Social media group Snap is shedding a fifth of its workforce. Goldman Sachs has slowed hiring and threatened to cull underperforming staff.
Companies that are slamming on the brakes often grew fast and hired aggressively during the pandemic. The unemployed inspire immediate sympathy. Workers who join businesses during worsening downturns also have a cross to bear.
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