Assess the company's financial health and explore cost-saving measures. Layoffs should be a last resort.
Explore Alternatives to Laying Off Your Workforce
Consider reducing hours, implementing a hiring freeze, or offering voluntary buyouts to minimize layoffs.
Identify critical roles and evaluate performance metrics to decide which positions to cut.
Plan how to communicate the layoffs. Be transparent, and compassionate, and provide clear reasons for the decision.
Offer severance packages, outplacement services, & support for job searching to help affected employees transition smoothly.
Boost morale and productivity by addressing concerns, counseling, and maintaining open communication with the remaining team members.