This is a terrible opinion piece. Layoffs do work. Cutting hours does not work. I am always amazed how few people understand how a business operates. They think its a community organized event where there is unlimited revenue.
There are a few basic accounting principles employees need to understand. It all revolves around Assets = Liabilities + Owner’s Equity. If you think otherwise, take a "Cost Accounting" course. This is a pure numbers game. Everyone wants to wrap a psycho analysis into something that has ZERO relevancy.
If a company is bleeding revenue, it cannot sustain the overhead of employees. They have to go. Cutting hours does nothing for those on a salary, and those that are hourly, benefit costs are far more expensive than their wage. If a company has stagnant growth, that means leadership has made bad decisions, and things have to change.
Employees feelings don't matter on a Balance Sheet, Income Statement and Cash Flow Statement. There is not a "Employee's Feelings" column on the ledger. Everyone can be replaced. No one is special, unless you're a majority shareholder.
There are a few basic accounting principles employees need to understand. It all revolves around Assets = Liabilities + Owner’s Equity. If you think otherwise, take a "Cost Accounting" course. This is a pure numbers game. Everyone wants to wrap a psycho analysis into something that has ZERO relevancy.
If a company is bleeding revenue, it cannot sustain the overhead of employees. They have to go. Cutting hours does nothing for those on a salary, and those that are hourly, benefit costs are far more expensive than their wage. If a company has stagnant growth, that means leadership has made bad decisions, and things have to change.
Employees feelings don't matter on a Balance Sheet, Income Statement and Cash Flow Statement. There is not a "Employee's Feelings" column on the ledger. Everyone can be replaced. No one is special, unless you're a majority shareholder.