Sure, laying off employees can cut costs — for now. But more often than not, those savings disappear after a few quarters. And long after the short-term savings fade, your company could be left with these hidden costs:
A reduction-in-force might increase cash flow, but is your company prepared for the employee exodus that’ll follow?
So it’s certainly not going to be good for the employees you have to show the door. But if you have to make this tough call, you certainly want to make sure your company gets the most out of it.
Effects of the credit crunch are already being forecast, as many finance execs plan to take drastic measures to control costs next year.
October saw the highest jump in the U.S. unemployment rate in 14 years. Now, all eyes are on you for answers as to how your company will be affected.
Unfortunately, this vital aspect of a downsizing effort is too often overlooked amidst the general chaos of the situation: how the survivors are holding up.
For employers forced to cut staff, a frightening trend is emerging: An alarming number of employees aren’t taking their dismissals lying down.Â
With over 500,000 jobs being cut in just one month, and an unemployment rate hovering right around 7%, it’s only natural to think everyone must be letting workers go. But there are always exceptions.
A little while back, we commented on a longstanding company that’s never had to hand out a single pink slip. Turns out, it isn’t alone.
Let old celebrations be forgot and never brought to mind. Even if your organization is faring better this year, you may still want to forgo the festivities.
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