BlackRock Tax Advisors

Confidence among middle-managers in the U.S. has dropped to its lowest level ever, leading to a record low in employee sentiment. Glassdoor’s Employee Confidence Index revealed that middle managers are now as confident as entry-level workers, whose confidence hit a seven-year low last month. Overall, employee confidence fell to 45.1%, the lowest since 2016. The position of middle managers, who have to direct junior employees and answer to senior ranks, is particularly prone to burnout. Tech firms such as Meta Platforms and Alphabet have targeted these positions for cuts, while United Parcel Service plans to cut 12,000 management jobs. Layoffs in the tech and media sectors have led to a significant increase in pessimism among surviving workers.