Layoffs can be part of running a small business. Some tips for owners on handling them

By MAE ANDERSON
AP Business Writer

NEW YORK (AP) — With stubborn inflation and higher costs, layoffs at small businesses are sometimes a necessity. U.S.-based employers announced 64,789 cuts in April, down 28% from 90,309 cuts announced in March, according to a report by global outplacement and business and executive coaching firm Challenger, Gray & Christmas, Inc. There are ways to handle letting people go in a professional manner, from following regulations to being clear on the reasons for the layoffs.