I know the experts among the financial media and journalists are elated when companies sharply pare back expenses with massive layoffs. But then again, these observers really don’t have genuine business acumen.
Something is amiss if management has overstaffed to a point where a sudden decision is necessary to lay off thousands of employees in one fell swoop. Forward planning to that point had to have been in considerable error.
Moreover, it’s costly to train lower, middle and then higher management, only to suddenly get rid of them; perhaps soon afterwards, to start new hiring cycles, when times become better. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)
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