Holidays are season for layoffs

NEW YORK — Don't let all the merrymaking at the holiday season lure you into a false sense of security at the office, warns career coach Cynthia Shapiro, because the holidays are also the season for layoffs.

"A huge amount of people are blindsided by job loss around the end of the year," Shapiro says. In fact, you're around 50 percent more likely to lose your job in the fourth quarter than at any other time of year, according to the Bureau of Labor Statistics.

Why? Because most companies run on the fiscal year, which means they are operating at a loss by November and December, Shapiro explains. The holidays are a smart time to lay people off, because doing so helps companies cut costs and clean up the books before the new year.

So go into the holiday season with your eyes wide open, Shapiro says. To determine if your company is in trouble, look for these signs:

• Bonuses go down or go away.

• The holiday party is downsized or done in.

• Leases on office equipment are allowed to expire or the company starts penny-pinching on office supplies.

• There is a hiring or wage freeze.