Layoffs (Usually) Don’t Work and Why They Harm More Than Help

Four years ago Steve Nguyen worked for a company that was bought for a larger company, and then three years later, he was promptly laid off. Most people correlate the negativity of layoffs to the unfortunate workers let go. However, layoffs can also have an un pleasant effect on companies as well. For laid off workers, it is not unusual to be depressed, irritable, and have trouble sleeping. For companies who lay off, there are hidden cons to it. They must deal with many additional expenses, like severance pay, payouts on vacation and sick days, pension payouts, and even potential lawsuits.

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