The Hidden Cost of Layoffs

A couple of months ago, I was having lunch with a buddy and we were talking about a company that had just announced a massive round of layoffs. I don't remember which company, and that's not important to the story; but he said something I'd never thought about before. He then said; "They didn't just lay off thousands of employees; they also let possibly millions of years of experience walk out the door." 

 That stopped me. 

We usually hear about layoffs in numbers. Thousands of jobs. Millions of dollars saved. Restructuring. Efficiencies. Corporate language. AI. Stock prices. Industry blah blah blah. But behind every number is a person with knowledge. 

It's the woman who knows how to calm an angry customer because she's done it for twenty years. The technician who can hear something wrong before anyone else notices. The salesperson who remembers clients and relationships built over decades. And thousands have to tell their family they may not have an income for a while. 

Ones and Zeroes

Experience may not show up on a balance sheet, but it's real. It's valuable. It's important. Of course the company has to evaluate inefficiencies and shifting business realities. Layoffs happen. I've been on both sides. Businesses have to make tough decisions. Markets change. Technology evolves. I get that. But experience matters. 

When people leave; they don't just take a job title with them. They are not head count. They take years of lessons, relationships, company intel, instincts, and wisdom when they walk out the door with that infamous box under their arm. 

  And that's something that is difficult to replace. ____________________________________________________________