Large companies are shedding employees in favor of contractors

The team at

ImpactAlpha

Within a decade, we may see the first large company employing no one other than top executives.

The Wall Street Journal’s catalog of companies that are doing away with full-time jobs and hiring contractors includes Google, Virgin America, Walmart and Pfizer. Contractors make up between 20 and 50 percent of the corporate workforce.

By 2020, as much as 45 percent of the entire U.S. workforce could be contract-based.

Photo credit: Startups.co.uk