Put away the pink slips and rethink
The Harvard Business Review on surviving rough times without firing people:
Estimates by Mercer and others indicate that losses just for the major risks (e.g., employee accidents, office theft, etc.) exceed $85 billion annually; in effect, these dwarf the near $40 billion annually that US companies were hoping to save during the last two years of employee purging. Thus, even a managed reduction of these risks by 50% would have achieved the same cost-saving feat as cutting people without the consequences.
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