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What if layoffs are not the quick fix for the challenges companies face?
Based on the frequency and scale of recent layoffs — there have been more than 140,000 in the tech sector this year alone — one might think that downsizing could cure everything from budget constraints to the common cold. But in a recent Harvard Business Review article, Didier Elzinga and Amy Lavoie argue that companies might want to consider the true impact of layoffs before eyeing their head count.
“Layoffs may sound like a shortcut to a more agile, lean, and responsive operation,” the authors