Layoffs – Downsizing by Rita Sterling

Businesses are continually adopting new ways of doing things. One way that is happening is in the area of layoffs/downsizing/rightsizing.  More and more I am believing that business executives need to rigorously hold themselves accountable for learning about, and engaging in, best practices for running their business/division. Their actions have such a large effect on other peoples lives, not just their employees but their community, their nation, and the world. As for layoffs/downsizing, perhaps there are new practices that executives can begin to embrace.   I found the following two articles particularly helpful on this subject.

1) The Real Cost of Layoffs By Carole Matthews |  Jul 19, 2002 
Many companies use layoffs to help boost the bottom line, but in the long run, such hasty measures cost a company more than they save! 

2) Once Again, Downsizing is Still a Bad Idea by Rick Maurer  |  Thursday, May 6th, 2010 

3) Recalculating the Cost of Big Layoffs. By Scott Thurm 
Lots of good hard-number examples. It still amazes me after so many years of solid research on the impact of downsizing (see Wayne Cascio’s work for starter) that it still seems to be the default reaction when costs have to be cut.  I encourage you to read this fine article by Scott Thurm and pass it along.”   How Honeywell took a different tack.