#layoffs

Posts mentioning hashtag #layoffs

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Phoebe Wall Howard just posted this on Twitter:

THREAD: Bill @Ford met with a scrum of reporters after the automaker’s City of Tomorrow symposium in Los Angeles. When asked about recent #layoffs he said, "It’s the worst thing any executive ever has to do. I hate it, personally. I always have." (1/4) via @ChrisWoodyard @freep

(2/4) "I know the employees. I know their families, in many cases." He continued, "We’ve been on a roll economically for quite a while. If you’ve covered this industry a long time, you know recession may be looming out there. We just had to get ourselves in fighting shape.”

(3/4) “If we are serious about being a lean nimble company, we have to really become that. I hate it, it’s very painful, but we had to do it. There will always be frustration anytime you are affecting people’s careers. But we took great care with it."

(4/4) “So the push-back is ‘Why did you drag it out so long?’ But the reason we did that is to take the proper care.”

They only announce big layoffs when the do the figures if the #layoffs they are planning need to be announced i.e. they are substantial enough to affect the earnings call. So if they do dribs and drabs over the year they don't need to announce them.

I suspect this is the way forward from now on. Lots of little LRs where there isn't a legal requirement to announce them.

By the way, most big companies are continually doing this.