The Intel Corporation announced recently that it would be laying off 15% of its workforce.

More than 90,000 employees have been laid off across the world in 2024, according to independent job cuts tracker, Layoffs.fyi. The number suggests that the layoffs are still going strong this year following significant workforce reductions in 2023 in which nearly 240,000 people lost their jobs.

In those companies, what will happen next? Aftermath has a big impact:

• Over time, the company and management lose employees’ trust
• Morale is affected, and the fear of being the next is heightened
• A knowledge drain occurs when departing employees take their expertise with them
• Targets are rarely reduced, which leads to higher workloads and burnout. For survivors to succeed, they must work harder and learn what layoff employees knew quickly

There is much more to layoffs than just cost savings. For the company, the short-term impact is significant. Long-term effects may be just as important.

Leaders who make smart decisions take into account the long-term impacts on areas such as culture, productivity, trust, and innovation.

Good companies take these decisions carefully, with empathy and transparency, so they can rebuild trust and keep their teams resilient more quickly.

Now, whether we like it or not, this is the way things are going. Now the question is, what do we do?

You may have seen it happen to someone close to you. You may fear that you may be affected by it in the future. However, now that the twister has passed, it is time to get back to work. Our experience shows two areas: What to do as an individual and what to do as a team.

Regarding the individual:

• Don’t be afraid to acknowledge your own feelings. Having part of your team laid off affects you as well.
• You should reassess your career plan. Are you on the right path to maximize your growth? Would you know what to do if you were laid off?
• Make sure your profile is up-to-date and network. Future job opportunities may arise as a result of networking.
• In case this happens to you, do you have an emergency fund? Would you be able to live without income for six to eight months?

As a leader and member of the team

• If you have the chance, do a proper farewell. Both the departing and remaining employees will be grateful
• Rebuild team morale and Trust.Communication is key during the first few days.
• Plan an activity to build teamwork. To heal, the team needs to feel close to each other
• Don’t forget the people who were laid off. “How are you doing?” means a lot to them. Providing contacts or references will have a big impact on how they feel
• Be supportive of your colleagues. Take the time to listen to them. Listen to what they have to say and how they feel
• Create certainty. Make sure you provide as much clarity as possible. Communicate openly about the direction of the team
• Protect your team from unnecessary stress and distractions
• Keep an honest dialogue going. Provide an open forum for team members to express their emotions and concerns.

Don’t forget that you’re not alone. Similar situations have been faced by many people and they have come out stronger. For further guidance or if you have specific concerns, please contact Power Inside Out at www.powerinsideout.com. Whenever you need us, we’re here for you!