It's like an old story. The company I work for isn't laying anyone off right now, but they're certainly not hiring anyone either. In the age of affordability, some industries like Nuclear have to do more with less and those companies are noticing. It's difficult to defend a stance against hiring and knowledge transfer when you're just meeting those regulatory requirements.
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It’s quite similar at my workplace
That's unfortunate, but not unexpected. I hope things improve where you work.