The True Cost of Layoffs
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- เผยแพร่เมื่อ 3 พ.ย. 2024
- Bloomberg News Senior Management and Workplace Reporter Matt Boyle breaks down the reporting from his latest Businessweek piece.
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Smart companies rely on attrition and hiring freezes to downsize. Avoids severance charges, has far less impact on morale/productivity.
Every company did that, the issue is people stopped leaving…
If you do that then the "right people" are the ones who are going to leave.
The worst part is that the layoff is likely happening because of the ineffective senior managers in the C-suite who mismanaged the companies strategy and growth and likely misread the market adjustment that caused them to need to layoff employees in the first place. Those same managers (if they stick around) end up getting rewarded with stock and stock options that are worth more when they eventually restructure and improve the bottom line.
Jobs for the boys
At the end of the day they don't know what talent is or dont care. That is guaranteed failure.
Exactly the company I'm with blew money like crazy during the pandemic and grossly over hired. Now cuts came to people and 401k, I know my productivity is lower and I'm senior. Morale is just crap.
I was a Hospice RN and got laid off with other nurses. Ended up the owners wanted to buy a vacation home so they dumped good, caring nurses to make the purchase. If you're an employee it can happen due to no fault of your own. The pawn if sacrificed for the king.
Layoffs have so many hidden costs for companies. What is the value of the brain drain to a company. What is the value of retraining your remaining workforce to cover functions not considered? What is the cost of spinning up new ways of doing things to maximize a companies new size, and come up with testing to make sure your new normal is normal?
În, nr, sau, dyferyt,,, nu, zycy, clar,,, 😮
I worked at an OEM van manufacturer in the UK (household name outside of the usa) and we had dozens of people in van sales. During covid we cut the number of people in sales to 4. We sell a fraction of the number of vans we used to where each person in sales that was fired brought in hunders of thousands to millions of £££. Really stupid and everyone except our MD (british verson of a CEO) thinks it was stupid af
I'm an RN, we get called off rather than laid off. Working three 12 hour shifts a week they can call us off (short staffing) 2 days a week so we only get 12 hours of pay a week. This encourages us to look elsewhere for employment. Then when the hospital gets busy we are worked with patient assignments that are not manageable and told we can't perform our job requirements and they fire good nurses, over worked.
Pretty much. When hospitals went from non-profits to for profits. Then you get overworked/exploited workers.
The true cost of a layoffs lie in the families affected. Too high to put a number on it.
Companies don't care about employees moral when they are trying to show stock holders that the layoffs helped the stock prices.
Cine, detyne, companii, se, folosek, y8, sa, afara, după, un, tymp, iar, folosek, oameny, cam3, luny, iar, afară, asa, e, modelu, vostru, uryt, dar, bosy, traesk, byne.
Companies main focus is maximize profits for shareholders/owners.
Exactly
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@@simone_maya perfectly stated. People tend to freeze up when scared.
I’ve been layed off have never seen a severance pay…
sister, i've been layed off and had great severance.
respectfully. you need to look at yourself. your education your workhabits/mindset your job choices your goals short and long and your chosen industry.
working is a long game, you have time
but you are ONLY person responsible for your career and personal career.
the good stuff is out there for you, but the journey starts with you and everyday and every choice matters.
I was a Hospice RN and got laid off, no severance pay and it took a month just to get my PTO cashed out.
The solution I see happening a lot with coorprate America is to let go of expensive American workers and send work to staff in lower cost countries.
Insightful analysis backed up with data.
How about laying off the HR department so that they don't feel they have to keep hiring to make themselves seem important.
And if you do have to lay off and then lose more people than you thought you were going to, how about going back to those you let go and see if the ones you need might want to come back?
The problem is that companies don’t want to deal with disgruntled ex-employees, because they never parted ways on good terms in the first place. Very few companies are willing to take that risk, if any.
@@anuragchakraborty8766 If someone is unemployed long enough, they will suck it up for the pay check.
And remember, they were laid off, not fired.
@@tomb7942 The problem is that the companies are not interested in having them back, not talking about the workers who got previously laid off. They want new blood who are not yet familiar with how these companies operate.
It's a very good point to step back and look at the bigger impact on costs, and as well the costs to families, the businesses impacted by those families. This is not a lefty socialist idea, its really looking deeper at a long tail of the impact and brining those impact costs as part of the equation.
Very interesting, i wonder though if the cost of Austerity measures by laid off staff whom now need keep an eye on their spending is taken into account on product purchases, effecting sales across the board!?
Also those people will talk shit on the company that lays them off for literally the rest of their lives. There has to be some brand equity impact from that.
Buy American that’s how you fix the country 🇺🇸
When are we going to start holding execs responsible for bad bussiness decisions ?
$65,000 haha in San Francisco their average salary is $150,000
Yes but the cost of living is insane.
No cost to replace an American with an imported worker, the cost is the American
Trimming the fat leads to a healthy life.
And what happens to the ‘fat’?
Do they get healthier?
cool
Less employees, more real estate 😂
Insightful.
wow. so people are just like cows to them.
It will come full circle there will be another labour shortage once baby boomers retire fully
I can see why this guy got let go. He whines a lot.
@@cintroberts6614 😂
Telling the truth is whining?
I prefer H1B visa holders and illegal immigrants in my workforce. Low wages and no need to bother with insurance and taxation. And the employees are scared of losing their jobs so I can push them really really hard.
You wish both categories both pay taxes and need insurance unless you plan on paying them illegally cash under the table
@@innerDialectic I run my business the way I see fit that's why i'm rolling in $$$.
@@ronaldchristenkkson congrats
@@ronaldchristenkkson Wow you are truly an altruist. I see why the left wing agrees with people like you. Eventually all jobs will be low wage & hard working and we will all be rich! It's a never ending utopia! We did it!
@@innerDialectic Why are you giving him advice on how he should run his business?