Thought for the day February 3, 2010Posted by alancwu in News.
“An equally big challenge for managers at companies contemplating layoffs is figuring out the actual benefits. Numerous studies by business professors and management consultants conclude that layoffs, while perhaps boosting the bottom line momentarily, rarely yield companies sustainable long-term savings.
Staff reductions cost companies valuable talent that frequently must be replaced at an even higher cost at a later date. They also hurt morale and productivity among survivors.”
That’s not a quote from a TUC document – that’s from The Wall Street Journal, 25th June 2007. “Lay-offs” is US english for redundancies.