target audience: TECH BUYER Publication date: Jun 2023 - Document type: IDC PlanScape - Doc Document number: # US50687923
IDC PlanScape: Layoff Practices to Avoid Brand Destruction
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Abstract
This IDC PlanScape discusses managing cost reductions effectively.
"While layoffs are not new, the unfortunate nature of the layoffs occurring after excellent financial results is less characteristic of normal cost reductions organizations have announced. This signals an imbalanced workforce and organizational and operation model mismatches more than impending market failure. The same tech firms that were laying off staff grew their firms significantly from 2019-2022 — for example: Amazon (93%), Microsoft (53%), Meta (92%), Apple (20%), and Alphabet (60%). So don't panic. But do get your cost reduction efforts right so that your workforce, customers, and employer brand remain vibrant during your efficiency efforts." — Bill Latshaw, research director, Worldwide Business Consulting Services