KEY FINDINGS · In general, job tenure in the United States has shortened significantly over recent decades, particularly for relatively older male workers. · Stock prices, which used to react negatively to job loss announcements, began to react less negatively in the recent past, and now tend to react slightly positively. · CEO pay is correlated with layoffs, but, when company size is controlled for, there is no relationship between CEO pay and layoffs. · Laid-off workers are less well off than in the past, in terms of subsequent wages, reemployment, and health. · While there are some alternatives to layoffs, firms tend not to use them.