J. Nathan Matias 🦣Layoffs:
- don't save money
- don't improve company performance
- don't increase stock pricess
- destroy trust
- have huge impacts on health, well-being, and income of employees
So why do layoffs? It's a network effect: execs lay people off because other companies are doing it
Stanford Biz School article: https://news.stanford.edu/2022/12/05/explains-recent-tech-layoffs-worried/
Harvard Biz Review:
https://hbr.org/2022/12/what-companies-still-get-wrong-about-layoffs
What explains recent tech layoffs, and why should we be worried? | Stanford News
As layoffs in the tech sector mount, Stanford Graduate School of Business Professor Jeffrey Pfeffer is worried. Research – by him, and others – has shown that the stress layoffs create takes a devastating toll on behavioral and physical health and increases mortality and morbidity substantially. Layoffs literally kill people, he said.
Leo Newton