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    ‘I was flabbergasted’: Canceled job offers, once rare, are on the rise

    After a successful summer internship at a mortgage tech company, Alana Klopstein was thrilled to get a job offer. She signed the contract in January 2022, giving her peace of mind during her final year at UC San Diego. Then in June, three months before her start date, she got an email from the company. The market downturn had forced the firm to make difficult decisions, it read. Her offer was ...
    by Samantha Masunaga, Los Angeles Times Feb 22, 2023 5 minutes
    Rescinding of job offers is not as widespread as layoffs, but the practice could grow if the economy heads into a recession.

    After a successful summer internship at a mortgage tech company, Alana Klopstein was thrilled to get a job offer.

    She signed the contract in January 2022, giving her peace of mind during her final year at UC San Diego. Then in June, three months before her start date, she got an email from the company. The market downturn had forced the firm to make difficult decisions, it read. Her offer was being rescinded.

    “It was really devastating,” said Klopstein, 22, who lives in San Diego. “I had a vision of what my life would look like, what kind of adjustments I would have to make to transition into the working world after doing so many years of school, and that just wasn’t a thing anymore.”

    As tech companies and other firms lay off workers

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