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ECT News Community   »   E-Commerce Times Talkback   »   Re: Tech Firm Job Cuts: Boon or Bust?

Re: Tech Firm Job Cuts: Boon or Bust?
Posted by: Clare Saliba 2001-10-02 12:07:00
See Full Story

While investor speculation and skyrocketing stock prices dominated
during the first half of 2000, falling stock prices
and nervous investors have long since become the order of the day,
causing many firms to slash their workforce in an effort to steady
their financial ships and improve investor confidence.

In the first of a two-part series, the E-Commerce Times examines the impact of these job
cuts on the companies that have been forced to make them -- and assesses how the loss of
employees will likely result in pivotal operational changes down the road.

Re: Tech Firm Job Cuts: Boon or Bust?
Posted by: NotNortel 2002-11-20 11:47:29 In reply to: Clare Saliba
Excellent article.
One other point not mentioned: Companies that have laid off large numbers of employees are now receiving a lot of scrutiny from those (former) employees who are sometimes also (former) stockholders. Everything a company does is placed under a microscope, and every small mistake the company makes is sure to get magnified for the world to see.
Not Nortel Network

Re: Tech Firm Job Cuts: Boon or Bust?
Posted by: Scapifoni 2001-10-02 14:31:12 In reply to: Clare Saliba
Sure, losing valuable intellectual capital will hurt these companies. However, the ability to hold onto key employees and utilize them more effectively without support from the capital markets is virtually impossible. Misappropriation of these employees in these firms created this situation. Hopefully they will be more effective in deploying intellectual capital as we move forward.

Re: Tech Firm Job Cuts: Boon or Bust?
Posted by: Garey 2001-10-23 16:46:22 In reply to: Scapifoni
What if companies were able to utilize their employees by donating their services to non-profit organzations when times were slow? The contribution of the services would be tax deductible to the company, they would better be able to utilize their employees, and the employees would get the satisfaction of helping out a non-profit with their technical needs. This may help in retention of good employees because they would feel that the company they work for truly cares about the community and providing a service for the community.

I know of an organzition, Tech Spirit Foundation at techspirit.org, that does this exact thing. It allows the technology companies to clear their "bench, perch" personnel while not losing as much money on them.

Let me know what you think.

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