As part of cost cutting, the organisation is planning to lay off a tenth of its global workforce beginning with Singapore and Hong Kong.
The company plans to expand its talent pool to 500 from a current strength of 200, which is further expected to grow ten times over the next two years.
Loss of job is undoubtedly an emotional time when people feel alone, scared and vulnerable. It is important for an employer to smoothen the termination process, show compassion and empathy and re-instate trust. The employees must see the decision as a necessity for business rather than a witch hunt!
Downsizing may seem to be productive in the short term, but it fails to give sustainable benefits in the long run.