The format of a My Take is 150 words – no more, no less – to express an opinion on a different topic each week. This week’s topic was layoffs.
By Matthew McCully
The business world is a wild, unpredictable, and unforgiving beast.
And I feel sick to my stomach thinking about anyone living day to day, waiting for the hatchet to drop.
Keep in mind when you read about 12,000 layoffs here, 10 per cent of the workforce there, that these are people; some with families, some living paycheque to paycheque with no savings, and some who will be utterly defeated by the news that their livelihood has been pulled out from under them, unable to regroup or retrain.
Also, keep in mind that layoffs and major restructuring are most often pre-emptive measures to protect profit margins, not recoup deficits.
Executives at the heads of companies are more likely to get bonuses for the efficiency with which they cut “expenses” than they are to tighten their own belt buckles for the sake of someone else’s almighty dollar.