7 WAYS TO MANAGE LAYOFFS: FROM PEOPLE WHO WERE FIRED

Increase the severance package instead of spending a fortune on outplacement consultants.

Senior management should take pay cuts before letting people go.

Leaders should walk the talk to make sure the business reality is the same for all employees across the spectrum.

Do not have a one-size-fits-all strategy for exits.

Stagger exits for employees whose kids are writing exams or who have to look after parents with health issues.

Do not use performance as an excuse or fire people under false pretexts.

Respect the people leaving the company. Show the same consideration as you did while onboarding them.