The Truth About Managing People, Third Edition

Truth 58. In Cutbacks: Don’t Neglect the Survivors

The last decade has seen a number of major organizations reducing their number of employees. In 2011 alone, organizations as varied as Corning, Best Buy, Goldman Sachs, Pfizer, Lockheed Martin, and the U.S. Postal System all announced massive layoffs.

When layoff announcements are made, attention naturally flows to those individuals who’ve lost their jobs. We expect that they’re likely to suffer from depression, anxiety, and similar negative feelings. And organizations respond by offering layoff victims outplacement services, psychological counseling, support groups, and extended benefit programs. While we certainly don’t want to minimize the trauma that layoffs create for those who have lost ...