Could more layoffs be coming amid economic uncertainty, even a possible recession? Twitter’s mess shows badly executed retrenchments can hurt companies, say HR leaders Aslam Sardar and Carmen Wee.
When layoffs are done is also important. Doing so right before a major festive season or holiday is typically seen as unsympathetic and could affect the morale of existing staff. The consensus among experts suggests that mid-week is probably the best time of the week to exercise layoffs.
Mark Zuckerberg appears to have handled things more deftly. In his message, published on Meta’s website, he recognised getting things wrong, stated some ways of cutting costs before layoffs as “a last resort” and clear support for those retrenched, and acknowledged both those who were leaving and staying.
An additional laudable practice is compiling a list of retrenched employees with their basic profile, for circulation to prospective employers to accelerate the job search process, which will help mitigate the transitional pain.Some companies may resort to layoffs to tide over difficult financial situations. Even so, not compensating fairly or within regulatory requirements could damage the organisation reputationally and even place it at regulatory risk.
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