Layoffs -- Does anyone that had to cut costs or manage a round of layoffs have learnings to share with the community?

This article (https://www.saleshacker.com/how-to-cut-costs/) was just published here on SH, and covers some of the subjects and strategies Sales Leaders need to think about when they have to tighten their belts with everything going on right now, but it would be great to hear people's other ideas and experiences with this hard topic that so many people are dealing with right now. Please put your recommendations and ideas in the comments section below the article so this can be a better resource, because I only had my experiences to draw from, but there are so many unique situations that people are finding themselves in right now.

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    • Profile picture of Colin Campbell
      ( 5.1k POINTS )
      2 weeks ago

      First, thanks for taking on a difficult subject. Obviously this isn’t something we ever want somebody to have to do, but if it’s going to be done, I’d love for those in our community to do it right.

      One thing that I think it’s critical for people to keep in mind – especially right now – is not to be too tempted by the buyer’s market of available talent.

      Even when sales leaders need to make really difficult decisions to reduce the sizes of their teams for the sake of the health (and careers) of the rest of the company, they should continue (or maybe increase) their investment in those team members who remain on the team.

      I’ve been at companies with layoffs before, and while I was lucky enough to keep my position, it felt like I and my colleagues were zombies. With the salaraies cut, if the company had made a meaningful effort (without spending cash carelessly) to show that they were still invested in our career growth through a shitty time, I think it would have made a really positive impact on the results we were able to achieve.

      Not to mention it would have helped with retention, which tends to dip after a layoff.

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