Business leaders report rising costs, hiring freezes, and layoffs as tariffs strain operations
KIRKLAND, Wash., March 21, 2025 /PRNewswire-PRWeb/ -- Resume.org, the leading platform for building a resume, has released new findings from a March 2025 survey assessing the impact of Trump's tariffs on businesses that import goods and raw materials. The survey of 729 U.S. business leaders reveals that 30% of companies say the tariffs put them at risk of going under, with many adjusting hiring plans, implementing layoffs, and raising prices to stay afloat.
Among companies surveyed, 13% say they are "definitely" at risk of shutting down due to the tariffs, while another 18% say they are "probably" at risk. More than half (51%) of companies have made changes to their hiring plans, with 41% slowing hiring efforts and 38% implementing a hiring freeze. Additionally, 31% of companies say they will likely need to lay off employees to manage costs.
To offset financial strain, 83% of businesses report they will raise prices, with 35% already increasing costs and another 48% planning to do so in the coming months. Certain industries anticipate greater challenges, with companies in software, banking, and construction reporting the highest expected layoffs, while healthcare and government organizations are more likely to enforce hiring freezes.
This survey, conducted in March 2025 via Pollfish, included 729 U.S. business leaders. Participants were selected based on demographic criteria and screening questions to ensure they work at companies that import from Canada, Mexico, or China. To view the complete report, please visit: https://www.resume.org/3-in-10-companies-say-trumps-tariffs-put-them-at-risk-of-going-out-of-business/
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Kelly Baker, Resume.org, (800) 250-4815, [email protected]
SOURCE Resume.org
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