Saturday, February 20, 2010

Lay Off the Layoffs

I always supported the free market economy. That was until they started laying off employees in the West. they were killing off people's purchasing power that is key to a good economy. How stupid that could be.
The companies that were laying off employees made huge profits is the apt word and were paying some of the top CEOs dream salaries. This was going for many years. And, at the slightest hint of profits falling (not going in the red, yet) they began sacking employees. The IT companies thought it safe.
They made a few costly mistakes when they did that.
First, they lost good, loyal hands. Secondly some of them could possibly go to a competitor taking along with them secrets and possibly skills that a rival lacked. And imagine the money they had invested in the employee during their trainning. It was actually foolhardy to sack people, often destroying lifes, families, careers and future. Even as there are no figures on the actual number of former employees who ended up in the streets in the United States, there were quite a few.
Thirdly, they were extingushing their own life line by sacking trusted employees.
Now, an article in the Newsweek says what I all along believed.
Lay Off the Layoffs

No comments: