Staff who keep their jobs during downsizing can suffer as much stress and anxiety as those who are laid off, experts say.
The phenomenon - known as "survivor syndrome" - has been found in studies here and overseas, said AUT associate professor Dr Keith Macky.
"Seeing colleagues made redundant translates into anger, grief, anxiety and guilt," he said.
Research by Macky and Auckland University's Dr Peter Boxall also gave bosses reason for concern - this time about workers who felt their jobs were under threat.
The study of 1005 workers in November and December found 46 per cent of respondents thought they might be made redundant in the next two years.
And 16 per cent were highly pessimistic, rating their chances of losing their job as quite likely or very likely.
Human Resources Institute of New Zealand chief executive Beverley Main agreed those who remained after restructuring needed as much help and support as those who lost their jobs.
"Sometimes those who are still there think 'I've survived the first round, but I might get taken out in the second round'."
She believed employers had tried to look after their staff during the recession because the memory of skill shortages was fresh in most managers' minds.
Staff who stay suffer from stress
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