Don't Downsize This! Social Reactions to Mass Dismissals on Twitter

Andrea Bassanini, Eve Caroli, Bruno Chaves Ferreira () and Antoine Reberioux ()
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Andrea Bassanini: OCDE / OECD - Organisation de Coopération et de Développement Economiques = Organisation for Economic Co-operation and Development
Eve Caroli: LEDa - Laboratoire d'Economie de Dauphine - IRD - Institut de Recherche pour le Développement - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique, IZA - Forschungsinstitut zur Zukunft der Arbeit - Institute of Labor Economics
Bruno Chaves Ferreira: DRM - Dauphine Recherches en Management - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique, Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres
Antoine Reberioux: LADYSS - Laboratoire Dynamiques Sociales et Recomposition des Espaces - UP1 - Université Paris 1 Panthéon-Sorbonne - UP8 - Université Paris 8 - UPN - Université Paris Nanterre - UPD7 - Université Paris Diderot - Paris 7 - CNRS - Centre National de la Recherche Scientifique

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Abstract: ABSTRACT We study social reactions on Twitter to job destructions. We use information on large‐scale restructuring events announced in the United Kingdom from 2013 to 2018. We match it with data on the number and sentiments of the tweets involving the company name posted around the time of the announcement. We show that job destruction announcements elicit numerous, strongly negative reactions, four times larger than the positive reactions to job creation announcements. We also show that these negative reactions are associated with significant losses in the market value of the downsizing firms, pointing to costs that add to standard dismissal costs.

Date: 2024-12-30
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Published in Industrial Relations, 2024, 64 (4), pp.580-597. ⟨10.1111/irel.12386⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05774395

DOI: 10.1111/irel.12386

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