No one wants to think about layoffs right around the holidays, but for some companies, it’s just reality. Take Novartis for example. After a decade of phenomenal growth, the company is now “battling with delays in product launches, a lack of innovation in its pipeline and increasing competition from generics.” Novartis plans to slash 2,500 jobs globally — after recently cutting 1,260 US positions — in anticipation of a downturn in prescription drug sales in upcoming decades.
Oftentimes, however, companies rely on layoffs as a short-term cost-cutting solution — which some people blame on bad management — when there may be other alternatives that make more sense. If you’ve read the book “Responsible Restructuring: Creative and Profitable Alternatives to Layoffs” you may already have an arsenal of options at your disposal. Or perhaps you’ve read about other companies that have used creative alternatives to layoffs, and found some inspiration there. Regardless, here’s a little more food for thought, courtesy of workplace experts Bob Rosner and Sherrie Campbell:
Our winning strategy for avoiding a layoff comes from Toby W. from
Binghamton, NY. “I can tell you that the income statement has a top end, a middle and a bottom line. There are several ways to deal with that bottom line. Look at the top end-revenue. Is the pricing right? Are you leaving money ‘on the table?’ Are you topping out because you are not investing in product R&D? Your people, at all levels, can be a help, in terms of ideas for new and improved products. Take people off those crappy-selling products, offer them the opportunity to help you develop new ones and ask for their help. Layoffs are just an immediate invitation from your competition to take your talent and turn it against you.”
(You Don’t Work Here image courtesy of Daquella manera, cc 2.0)
