Another day, another article that I'm reading. Trying to log information that I'm digesting as a sort of record for me to go back to. It's 1:43am and as I'm waiting to do a job right now I stumbled upon this article.
Let's start with the intro and what I understood from it:
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Stanford Graduate School of Business Professor Jeffrey Pfeffer
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stress caused by these layoffs cause:
- a toll on behavioral and physical health
- increases mortality and morbidity
Professor Jeffery Pfeffer talks about social contagion : a behavior that spreads through a network of companies almost mindlessly copying what others are doing.
Some takeaways from layoffs are:
- Do not always cut costs
- Do not always lead to an increase in stock prices
- Do not address the underlying problems
- ineffective strategy
- loss of market share
- This refers to the percent of total sales in a market that a company has. If a company is losing market share, it means that its share of the total market is decreasing. This can occur for various reasons such as increased competition, changes in consumer preferences, or decreased brand popularity. Losing market share can signal that a company is struggling to stay relevant and meet customer needs, and can result in decreased profitability and finacial instability. Market share loss can be a warning sign that a company needs to take steps to improve its competitiveness, such as investigating in new products, improving customer service, or reducing costs.
- low revenue
- increase stress and depression amongst all workers.
Some books referenced here by Prof. Pfeffer:
Organizational Behavior
Paid recruitment bonuses
Buy high and sell low
Economic stringency
The Relationship Between Workplace Stressors and Mortality and Health Costs in the United States
Mortality, Mass-Layoffs, and Career Outcomes: An Analysis using Administrative Data
Behavioral Health - Behavioral health generally refers to mental health and substance use disorders, life stressors and crises, and stress-related physical symptoms. Behavioral health care refers to the prevention, diagnosis and treatment of those conditions.
Morbidity - a diseased state or symptom : ill health