Executive Summary
Leaders are coming to terms with the economic effects of the COVID-19 pandemic. Layoffs are often reflexive first measure to reduce costs. This is a mistake. Instead, leaders should take several steps before cutting headcounts. First, be clear about the challenge with staff; second, brainstorm ideas for how to reduce costs while saving jobs; third evaluate other options like four-day work-weeks, unpaid time off, and son. Finally, have “ice in the belly,” which means you should keep your cool as a decision maker while also remaining compassionate and…
