During economic expansions, companies grow by adding capacity and new projects while maintaining employee redundancy. In downturns, layoffs often follow efforts to cut costs, with over 800,000 jobs eliminated this year alone. To protect against layoffs, employees should excel in their job performance and develop relevant skills. Being recognized as vital to the company's mission further secures a position during these tough times, as organizations prioritize core business functions and revenue drivers over new ventures.
When a company first starts to consider downsizing, they usually start by looking for candidates to lay off whose contributions won't be missed that much. So, the first people to go are usually those whose performance has been lackluster.
When companies look for ways to trim costs, they often focus on their core businesses. The dreams of new products and services take a back seat to a focus on the central drivers of revenue in the near term.
Collection
[
|
...
]