Feeling stressed and worried may be the first reaction of many company managers when they are directed to initiate a layoff. They are stressed by having no choice but to proceed with the layoff, and they are worried about the uncertainties inherent in terminating employee’s contracts. Layoffs involve numerous legal issues and the possibility of unexpected events. Therefore, having a good plan of action is crucial to the successful implementation of a layoff.
How should a layoff plan be optimally structured? What should be included in such a plan? To answer these questions, this article summarizes our experience dealing with layoffs and delivers key strategies to help those companies currently facing the need to lay off staff.
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