More laid-off workers returning to old employers

More laid-off employees are finding new work in their old jobs, according to the latest labor statistics that show almost a fifth of displaced employees return to the company they were laid off from.

About 18% of laid-off workers who found work were rehired by the same employer that issued their pink slip, up 5% from 2005, according to Right Management’s outplacement services. (CNN Money)

"In some instances, organizations are realizing that they may have cut too deep and are bringing people back in consulting roles or for project work," Melvin Scales, senior vice president for global solutions at Right Management, said in a statement.

"Former employees have the organizational knowledge and skills to jump back into roles quickly to get the job done," Scales said.

Scales recommends that employers consider redeploying workers as an alternative to layoffs. "It's a way of leveraging the skills and talents of existing employees and reassigning them to new roles within the organization. It provides an opportunity to retain valued talent, reduce the cost of turnover and leverage knowledge transfers within the company," he said. (CNN Money)

Over the past two years, the U.S. labor market has experienced widespread job cuts. In the first half of this year nearly 3.4 million jobs have been lost, on top of the 3.1 million lost in 2008.

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