In this Entrepreneur article, Legacy+ co-founder Craig Kielburger critiques the prevalent corporate practice of layoffs, arguing that they are often a short-sighted strategy that undermines long-term business success. He highlights the example of former Nintendo CEO Satoru Iwata, who chose to halve his salary rather than lay off employees, emphasizing the value of retaining staff during challenging times.
Kielburger contends that while layoffs may offer immediate financial relief, they can erode company culture, diminish employee morale and stifle innovation. He notes that such actions often lead to a workforce focused on self-preservation rather than creativity and collaboration. Drawing from his own experience during the COVID-19 pandemic, Kielburger underscores the profound impact layoffs have on both individuals and organizational integrity.
For a deeper exploration of the long-term implications of layoffs and the importance of valuing employees as integral assets, read the full article on Entrepreneur.
