scholarly journals Job Insecurity during an Economic Crisis: the Psychological Consequences of Widespread Corporate Cost-Cutting Announcements

2021 ◽  
Author(s):  
Drake Van Egdom ◽  
Christiane Spitzmueller ◽  
Xueqi Wen ◽  
Maryam A. Kazmi ◽  
Erica Baranski ◽  
...  
Keyword(s):  
Economic Crisis ◽  
Job Insecurity ◽  
Psychological Consequences ◽  
Cost Cutting

Job Insecurity During an Economic Crisis: The Psychological Consequences of Widespread Corporate Cost-Cutting Announcements

2021 ◽  
Author(s):  
Drake Van Egdom ◽  
Christiane Spitzmueller ◽  
Erica Baranski
Keyword(s):  
Economic Crisis ◽  
Organizational Context ◽  
Job Insecurity ◽  
Self Regulation ◽  
Supervisor Support ◽  
Full Time ◽  
Economic Crises ◽  
Theoretical Understanding ◽  
Cost Cutting ◽  
Combining Data

Economic crises, such as the one induced by the COVID-19 pandemic, and resulting widespread corporate cost-cutting, drastically alter the nature of work. Job insecurity represents a critical intermediate between the economic ramifications of an economic crisis and work and stress outcomes, however, the underlying cognitive consequences of job insecurity and how to buffer those effects are not well understood. We examine how corporate cost-cutting announcements indirectly relate to employees’ attention through their relationship with employee job insecurity and investigate supervisor support as a potential buffer of these relationships. We used multi-source data to test our research model, combining data on cost-cutting announcements (budget cuts, layoffs, and furloughs) in news articles for 165 organizations with survey data from 421 full-time employees from these organizations between March 26, 2020 and April 8, 2020. Cost-cutting announcements are positively related to job insecurity, which is related to employee’s attention with supervisor support mitigating the effects of job insecurity on attention. Grounded in self-regulation theories, we contribute to and extend the theoretical understanding of the organizational context for job insecurity and cognitive outcomes. We discuss the implications for organizations to manage and prepare for future economic crises, specifically on organizational communication and supervisor interventions.

scholarly journals Depressive symptomatology, attachment style, job insecurity and burnout of civil servants in the Greek economic crisis

2017 ◽  
Vol 6 (1) ◽  
pp. 96-112 ◽  
Author(s):  
Maria Grigoriadou ◽  
George Kleftaras
Keyword(s):  
Economic Crisis ◽  
Attachment Style ◽  
Attachment Styles ◽  
Depressive Symptomatology ◽  
Job Insecurity ◽  
Civil Servants ◽  
Self Report ◽  
Three Dimensions ◽  
Greek Society ◽  
Severity Of Depression

The purpose of the present study was to investigate the depressive symptomatology of civil servants in contemporary Greek society undergoing severe turmoil because of the profound economic crisis. More specifically, the study aimed at evaluating the severity of depression in this population in relation to attachment style, job insecurity and the three dimensions of burnout. The sample of the present study consisted of 207 employees working in Municipalities or Civil Services. Self-report questionnaires on depressive symptomatology, attachment style, job insecurity and burnout were distributed. According to the results, 38.20% of the sample indicated mild or severe depressive symptomatology. The hypothesis of significant correlations among depressive symptomatology, job insecurity and the dimensions of burnout were confirmed. Results also indicated significant correlations between depressive symptomatology and attachment styles involving a negative self model. Implications for counseling are discussed.

Engaging in Turbulent Times

2011 ◽  
Vol 2 (1) ◽  
pp. 1-15 ◽  
Author(s):  
Stijn Viaene ◽  
Steven De Hertogh ◽  
Olivier Jolyon
Keyword(s):  
Economic Crisis ◽  
Social Forces ◽  
Short Term ◽  
Business Partners ◽  
Steady Growth ◽  
Cost Cutting ◽  
Turbulent Times ◽  
The World ◽  
It Department

In 2008, the global financial and economic crisis (GFEC) took many businesses around the world by surprise. After a period of steady growth, companies found themselves suddenly confronted with high levels of uncertainty about the evolution of major economic and social forces. This paper investigates the hypothesis that, during these turbulent times, a number of companies took the opportunity to re-invigorate their business-IT engagement practices. The study was based on 28 interviews with CIOs and CFOs (conducted in 2009) for whom the GFEC has provided a context in which the CIO and the IT department could prove their worth as true business partners beyond mere short-term cost-cutting. In this article, the authors also present a theme-based compilation of key insights that describe the opportunities these executives saw for a more effective engagement between business and IT.

Being hit twice: The psychological consequences of the economic crisis and an earthquake

2016 ◽  
Vol 62 (4) ◽  
pp. 345-349 ◽  
Author(s):  
Fabrizio Starace ◽  
Francesco Mungai ◽  
Elena Sarti ◽  
Tindara Addabbo
Keyword(s):  
Economic Crisis ◽  
Psychological Consequences

scholarly journals Job insecurity perceptions in the face of a change in labor legislation among Puerto Rican workers and its impact on productivity during an economic crisis

2021 ◽  
pp. 2163-2174 ◽  
Author(s):  
Rolando Rivera-Guevarrez ◽  
Jose Flecha-Ortiz
Keyword(s):  
Organizational Justice ◽  
Economic Crisis ◽  
Organizational Support ◽  
Job Insecurity ◽  
Private Companies ◽  
Academic Literature ◽  
Labor Legislation ◽  
Wide Range ◽  
The Face ◽  
New Literature

Job insecurity has evolved in a wide range of phenomena that have been little addressed in the academic literature. One of these phenomena is to observe how the implementation of labor legislation within an economic crisis affects the perception of job insecurity. Thus, this research proposes that organizational justice, organizational support, and employability become three explanatory dimensions that shape job insecurity in the face of a change in labor legislation during an economic crisis. Through a survey of 205 employees of private companies in Puerto Rico and analyzing the data through PLS-SEM, the study demonstrates and supports new literature on how each variable considered affects perceptions of job insecurity and the productivity of human capital in the face of a change in labor legislation, a topic little addressed in the academic literature.

scholarly journals A penny for your words. Job insecurity as the chief problem affecting Spanish professional journalism

2021 ◽  
Vol 27 (1) ◽  
pp. 409-424
Author(s):  
María Ruth Rodríguez-Martinez ◽  
Marcel Mauri de los Ríos ◽  
Dory Merino Arribas
Keyword(s):  
Focus Groups ◽  
Economic Crisis ◽  
Job Insecurity ◽  
Third Place ◽  
Global Economic Crisis ◽  
Depth Interviews

In view of the difficult period professional journalism is going through and the challenges facing journalists in their day-to-day work, this paper seeks to identify the main problems affecting professional Spanish journalists from the perspective of journalists, citizens and experts. To this end, the research presents results obtained through surveys of Spanish journalists, citizen focus groups and in-depth interviews with experts. The findings derived from the survey of journalists conducted in 2018 are compared with those from a survey of Spanish and European journalists conducted in 2012, both of which used the same parameters. The inclusion of findings from an additional survey carried out in 2008 by the researchers of this paper allow us to plot the evolution of the problems faced by the profession in Spain, highlighting those that have remained unchanged and become more deeply entrenched over a decade marked by the global economic crisis. The results show that Spanish journalists identified job insecurity as the main problem of their profession, while economic and political pressures came in second and third place respectively.

scholarly journals The Effect of COVID-19 on the Hospitality Industry: The Implication for Open Innovation

2021 ◽  
Vol 7 (1) ◽  
pp. 30
Author(s):  
Kanwal Iqbal Khan ◽  
Amna Niazi ◽  
Adeel Nasir ◽  
Mujahid Hussain ◽  
Maryam Iqbal Khan
Keyword(s):  
Mental Health ◽  
Economic Crisis ◽  
Hospitality Industry ◽  
Service Sector ◽  
Job Insecurity ◽  
Smart Technologies ◽  
Indirect Relationship ◽  
Relationship Of ◽  
The Relationship ◽  
Perceived Job Insecurity

The current coronavirus pandemic (COVID-19) has led the world toward severe socio-economic crisis and psychological distress. It has severely hit the economy; but the service sector, particularly the hospitality industry, is hard hit by it. It increases the sense of insecurity among the employees and their perception of being unemployed, adversely affecting their mental health. This research aims to contribute to the emerging debate by investigating the effect of economic crisis and non-employability on employees’ mental health through perceived job insecurity under the pandemic situation. It empirically examines the underlying framework by surveying 372 employees of the hospitality industry during COVID-19. Results indicate that perceived job insecurity mediates the relationship of fear of economic crisis, non-employability, and mental health. Furthermore, the contingency of fear of COVID-19 strengthens the indirect relationship of fear of economic crisis on mental health through perceived job insecurity. The findings will provide a new dimension to the managers to deal with the psychological factors associated with the employees’ mental health and add to the emerging literature of behavioral sciences. The study also highlights the increasing need for investment in the digital infrastructure and smart technologies for the hospitality industry.

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