Bill George, former chairman and chief executive of medical technology company Medtronic, says those are among the reasons he has always been wary of mass layoffs. George, author of True North: Emerging Leader Edition, predicts that if 10% of an engineering group gets laid off, the remaining 90% will be sitting around in the cafeteria worrying and swapping rumors instead of inventing new products.
This is an excerpt from an article about the negative effects of layoffs to the company culture: https://www.washingtonpost.com/business/ceos-arent-dealing-with-the-toxic-fallout-of-layoffs/2023/02/14/048ffef6-ac62-11ed-b0ba-9f4244c6e5da_story.html
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Morale here is already at zero!