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It's quite common, even for employers that *are* performing layoffs, to cut fewer people than their target reduction and then let attrition cover the gap. The problem is that the people you lose in that scenario are the ones with the skills and mobility to change jobs on short notice, which leaves you with a less talented and capable workforce overall. It's a recipe for mediocrity and in my opinion it makes it that much harder for a struggling company to get out of the hole it's in, but at the end of the day MBAs are gonna MBA.
Interesting insight Brent! I definitely feel this, we’ve lost some talent in individuals because of it and I’ve been on the job hunt myself for quite some time, my hunt is a little different as I’m looking to change into a different part of the industry. But none the less, hard to see my company in a good light after all this, which makes it all the harder to work passionately here 😕
We’ve lost about 30 people in four years which equates to at least a fourth of our company.
I think we’ve had an equilibrium where the people who have stayed are willing to work in this toxic new environment, and the people who weren’t left. He basically weeded out those he felt who were weak, to save money in order to grow the brand.