Layoffs at Companies: A Summary of Best Practices

1559 Words Feb 3rd, 2018 6 Pages
In order, the author will suggest three ways a manager can cope with executing and undergoing a layoff, will list a step-by-step process for conducting the dismissal meeting, will determine the compensation that will be provided to the departing employees, will show a chart showing the disbursement schedule and structure for the aforementioned severance payouts and finally predict three ways in which the layoffs will affect the remaining employees and the company itself going forward.
Manager Coping Managers can cope with the stress and gravity of a layoff situation in a number of ways. First, the manager must realize that while laying off people can be stressful and can induce some bad feelings, the layoffs are for the betterment of the company itself and the remaining employees and is in fact necessary to protect all of the above. The employees being let go may indeed be able to return if the fortunes of the company improve but the company must remain solvent in the short term for there ever to be a long-term horizon for the company's financial state improving and its overall fortunes getting better. The second way a manager can cope with layoffs is understanding that they are just performing a job and that it is not personal. As…

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