Layoffs can be a necessary response to economic downturns, yet they can create long-term challenges that outweigh their immediate financial benefits. When conducting layoffs, organizations should aim to do so compassionately and only as a last resort. Before resorting to layoffs, there are several different strategies organizations can try to reduce financial strain without workforce reduction.
myTCB® Members get exclusive access to webcasts, publications, data and analysis, plus discounts to events.