Job cuts - please let it be over

I said some time ago that the profit driven, excessive, money-hungry sentiment here in the valley will drive us all out of business. A recent article in our local paper reviews a decade of job cuts is not over yet. The over indulgence and other ill fated decisions made this painful phase happen but the conflicting reports are driving me nuts. Profits increase at many companies, the stock market rises, the stock market falls (profit taking, anyone?) and yet still reports of cutting jobs. I am the first one to admit my mistake of holding on to employees too long and hoping for new business to come in the door. I did not see the downturn of 2002/2003 in its severity or maybe I didn’t want to see it. I value employees and paid dearly for it. The risk was all mine and I took it. Next time I will be smarter but the senseless job cuts to add to the profit margin is just painful to watch.

Comments

[JSH]

Employees show back the loyalty the company showed towards them. Laying off for profit is very short sighted. Your risk-taking is commendable. Now you can continue full-steam with your business, which would not have been the case if you had let go of them and had to train new recruits now, while the customers kept waiting on for the deliverables.