{"id":60847,"date":"2022-08-23T13:22:14","date_gmt":"2022-08-23T17:22:14","guid":{"rendered":"https:\/\/venngage.com\/blog\/?p=60847"},"modified":"2025-05-29T07:25:43","modified_gmt":"2025-05-29T11:25:43","slug":"layoffs-infographic","status":"publish","type":"post","link":"https:\/\/venngage.com\/blog\/layoffs-infographic\/","title":{"rendered":"Is There a \u201cRight\u201d Way To Do Layoffs? [Survey + Infographic]"},"content":{"rendered":"<p><a href=\"https:\/\/venngage.com\/templates\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-60848 size-full\" src=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Layoffs-2022-Blog-Header.png\" alt=\"Layoffs 2022: Is There a &quot;Right&quot; Way To Do Layoffs?\" width=\"1024\" height=\"576\" srcset=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Layoffs-2022-Blog-Header.png 1024w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Layoffs-2022-Blog-Header-300x169.png 300w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Layoffs-2022-Blog-Header-768x432.png 768w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Layoffs-2022-Blog-Header-730x411.png 730w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/p>\n\n\n<p><em>Stay tuned <a href=\"#survey\">(or skip ahead!)<\/a>, the survey results are in\u2026<\/em><\/p>\n\n\n\n<p>Twelve loyal employees hop on a Zoom call. Less than two minutes later, they\u2019re booted off all accounts. Half-written messages to co-workers expressing their shock are forever left in suspension on Slack.&nbsp;<\/p>\n\n\n\n<p>Some of these employees have been with the company for years. They stuck around even when offered bigger, better jobs. They didn\u2019t want to leave their team hanging.&nbsp;<\/p>\n\n\n\n<p>In return, they get a 15-second explanation: the market is volatile. We needed a longer runway.&nbsp;<\/p>\n\n\n\n<p>Sound familiar? That\u2019s because this story is far from unique&#8230; &nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"toc\">Click to jump ahead:&nbsp;<\/h3>\n\n\n\n<ul>\n<li><a href=\"#infographic\">Infographic: Is there a &#8220;right&#8221; way to do layoffs?<\/a><\/li>\n\n\n\n<li><a href=\"#cause\">What&#8217;s causing tech layoffs in 2022?<\/a><\/li>\n\n\n\n<li><a href=\"#where\">Where are layoffs taking place in 2022?<\/a><\/li>\n\n\n\n<li><a href=\"#industries\">Which tech industries have been hit the hardest by layoffs in 2022?<\/a><\/li>\n\n\n\n<li><a href=\"#survey\">How can companies better handle layoffs? [Survey results and analysis]<\/a><\/li>\n\n\n\n<li><a href=\"#coinbase\">Case study: Coinbase&#8217;s layoff<\/a><\/li>\n\n\n\n<li><a href=\"#compassion\">The bottom line: planning, compassion and resources go a long way<\/a><\/li>\n<\/ul>\n\n\n\n\n\n<h2 class=\"wp-block-heading\">Over 1,100 layoffs and counting&nbsp;<\/h2>\n\n\n\n<p>Since day one of the pandemic, 1,100+ tech startups have laid off portions of their staff. Most of these layoffs happened in 2020 \u2014 companies reacted to unprecedented times. (I know, that\u2019s my favorite sentence too.)&nbsp;<\/p>\n\n\n\n<p>But 2022 has seen a new surge of layoffs. Since January, tech layoffs tracker, <a href=\"https:\/\/layoffs.fyi\/\" target=\"_blank\" rel=\"noreferrer noopener\">Layoffs.fyi<\/a>, reports over 72,900 tech workers around the world have lost their jobs. In many cases, over truncated Zoom calls with no time to ask questions, let alone blink five times fast.<\/p>\n\n\n\n<p>Suffice to say, this is not the way.&nbsp;<\/p>\n\n\n\n<p><strong>But is there a \u201cright\u201d way to do layoffs? <\/strong><\/p>\n\n\n\n<p>I set out to answer this question by surveying HR and business professionals far and wide. Turns out, 71% of professionals agree there <em>is<\/em> a &#8220;best&#8221; way to do layoffs remotely. And when it comes to supporting affected employees, these pros have some sage wisdom too. <\/p>\n\n\n\n<p><em>So to all the execs and HR leaders out there faced with these difficult decisions, check out this infographic and survey analysis first&#8230; <\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"infographic\">Infographic: Is there a &#8220;right&#8221; way to do layoffs? <\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><a href=\"https:\/\/venngage.com\/templates?preview=9ba98262-84ce-46e7-9a8b-6f2c46eeaf82\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Layoffs-Infographic-Aug-22-2022-1-1.png\" alt=\"Layoffs 2022 infographic \" class=\"wp-image-60850\" width=\"700\" style=\"box-shadow: 0 1px 4px 0 rgb(0 0 0 \/ 10%), 0 0 6px 0 rgb(0 0 0 \/ 10%), 0 2px 2px -2px rgb(0 0 0 \/ 15%);\" srcset=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Layoffs-Infographic-Aug-22-2022-1-1.png 816w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Layoffs-Infographic-Aug-22-2022-1-1-768x6306.png 768w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Layoffs-Infographic-Aug-22-2022-1-1-187x1536.png 187w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Layoffs-Infographic-Aug-22-2022-1-1-730x5994.png 730w\" sizes=\"(max-width: 816px) 100vw, 816px\" \/><\/a><\/figure><\/div>\n\n\n\n<center><a href=\"https:\/\/venngage.com\/templates?preview=9ba98262-84ce-46e7-9a8b-6f2c46eeaf82\" target=\"_blank\" rel=\"noopener\"><button class=\"btn-cta\"><b>CREATE THIS TEMPLATE<\/b><\/button><\/a><\/center>&nbsp;\n\n\n\n<p><em>Note, Venngage welcomes sharing! You have permission to use this infographic on your blog or website. Simply copy the HTML code below to add this infographic to your site. Or, if you&#8217;d like to reference a specific statistic or fact, please include a link to this blog post as a source. <\/em><\/p>\n\n\n\n<pre>&lt;img src=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Layoffs-Infographic-Aug-22-2022-1-1.png\" alt=\"[INFOGRAPHIC] Is There a Right Way To Do Layoffs\"\/&gt;&lt;a href=\"https:\/\/venngage.com\/blog\/layoffs-infographic\"&gt;[Infographic] Is There a Right Way To Do Layoffs&lt;\/a&gt; created by &lt;a href=\"https:\/\/venngage.com\/\"&gt;Venngage Infographic Maker&lt;\/a&gt;<\/pre>\n\n\n\n<p><strong><a href=\"#toc\">Return to Table of Contents<\/a><\/strong><\/p>\n\n\n\n\n\n<h2 class=\"wp-block-heading\" id=\"cause\">What&#8217;s causing tech layoffs in 2022? <\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><a href=\"https:\/\/venngage.com\/templates\/search\/layoffs?preview=74b2ee9d-373c-495d-9dc7-99310eeaab9d\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Quad-Causes-Icon-Chart-1024x536.png\" alt=\"What's causing tech layoffs in 2022? Economic &amp; labor instabilities, exaggerated valuations, overzealous hiring, record inflation\" class=\"wp-image-60851\" width=\"700\" srcset=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Quad-Causes-Icon-Chart-1024x536.png 1024w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Quad-Causes-Icon-Chart-300x157.png 300w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Quad-Causes-Icon-Chart-768x402.png 768w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Quad-Causes-Icon-Chart-730x382.png 730w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Quad-Causes-Icon-Chart.png 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure><\/div>\n\n\n<center><a href=\"https:\/\/venngage.com\/templates\/search\/layoffs?preview=74b2ee9d-373c-495d-9dc7-99310eeaab9d\" target=\"_blank\" rel=\"noopener\"><button class=\"btn-cta\"><b>CREATE THIS TEMPLATE<\/b><\/button><\/a><\/center>&nbsp;\n\n\n\n<p>You may be wondering how we got here in the first place\u2026<\/p>\n\n\n\n<p>Like most major events in the last couple years, the COVID-19 pandemic played a huge part. <\/p>\n\n\n\n<p>With normal life on hold, more people turned to online services, and the tech industry burgeoned with customers seeking digital solutions. Despite initial concerns, the economy bounced back: interest rates lowered, stocks buoyed and venture capital followed by funding many-a-startup.&nbsp;<\/p>\n\n\n\n<p>Boom: tech companies ballooned in valuation. Bam: pandemic \u201cunicorns\u201d were born.&nbsp;<\/p>\n\n\n\n<p>At the same time, employees\u2019 priorities changed. The shift to remote work made life a lot easier for many, so when asked to return in-person, the <a href=\"https:\/\/www.wired.com\/story\/great-resignation-perks-tech\/\" target=\"_blank\" rel=\"noreferrer noopener\">Great Resignation<\/a> began. Fueled by deep pockets and seemingly endless growth, tech companies started snatching up talent. (Coinbase, for example, nearly <a href=\"https:\/\/www.macrotrends.net\/stocks\/charts\/COIN\/coinbase-global\/number-of-employees\" target=\"_blank\" rel=\"noreferrer noopener\">tripled its workforce<\/a> in one year.)<\/p>\n\n\n\n<p>We all know what happens next: in 2022, the Ukraine War hit. Stocks plummeted. Inflation reached record highs. With decreased spending and a \u201cpost-pandemic\u201d world altering consumer behaviors, venture capital slowed too.<\/p>\n\n\n\n<p>So now, here we are. Tech companies everywhere are being forced to reevaluate, because insane growth no longer applies. Left with no choice but to cut costs, a popular solution emerges: <\/p>\n\n\n\n<p>Layoffs. And lots.&nbsp; <\/p>\n\n\n\n<p><strong><a href=\"#toc\">Return to Table of Contents<\/a><\/strong> <\/p>\n\n\n\n\n\n<h2 class=\"wp-block-heading\" id=\"where\">Where are layoffs taking place in 2022? <\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><a href=\"https:\/\/venngage.com\/templates\/search\/layoffs?preview=46b61efd-740c-494f-8b70-e903a2ab196a\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Regional-Layoffs-2022-Map-Chart.png\" alt=\"Where are layoffs taking place in 2022? \" class=\"wp-image-60852\" width=\"700\" srcset=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Regional-Layoffs-2022-Map-Chart.png 1056w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Regional-Layoffs-2022-Map-Chart-300x232.png 300w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Regional-Layoffs-2022-Map-Chart-1024x791.png 1024w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Regional-Layoffs-2022-Map-Chart-768x593.png 768w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Regional-Layoffs-2022-Map-Chart-730x564.png 730w\" sizes=\"(max-width: 1056px) 100vw, 1056px\" \/><\/a><\/figure><\/div>\n\n\n<center><a href=\"https:\/\/venngage.com\/templates\/search\/layoffs?preview=46b61efd-740c-494f-8b70-e903a2ab196a\" target=\"_blank\" rel=\"noopener\"><button class=\"btn-cta\"><b>CREATE THIS TEMPLATE<\/b><\/button><\/a><\/center>&nbsp;\n\n\n\n<p>All of the above set the stage for the experiences of tech workers lately. In fact, over 550 tech companies have conducted layoffs this year alone, impacting the livelihoods of more than 72,900 knowledge workers around the globe.&nbsp;<\/p>\n\n\n\n<p>A deeper data dive finds the United States outstripping all other countries as far as layoffs go, with the San Francisco Bay Area, New York City and Los Angeles topping the charts. Since the U.S. has the <a href=\"https:\/\/about.crunchbase.com\/products\/crunchbase-pro\/?utm_source=cbnews&amp;utm_medium=global_nav&amp;utm_campaign=pro-trial&amp;utm_content=201905\" target=\"_blank\" rel=\"noreferrer noopener\">highest rate of startup investment<\/a> relative to population size, it follows that the aforementioned economic deterrents have really taken a toll.<\/p>\n\n\n\n<p><strong><a href=\"#toc\">Return to Table of Contents<\/a><\/strong> <\/p>\n\n\n\n\n\n<h2 class=\"wp-block-heading\" id=\"industries\">Which tech industries have been hit the hardest by layoffs in 2022?<\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><a href=\"https:\/\/venngage.com\/templates\/search\/layoffs?preview=e91d9d67-80a7-4e9b-8e23-37587609e34a\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Industry-Layoffs-2022-Comparison-Bar-Chart-1024x791.png\" alt=\"Which tech industries have been hit the hardest by layoffs in 2022?\" class=\"wp-image-60855\" width=\"700\" srcset=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Industry-Layoffs-2022-Comparison-Bar-Chart-1024x791.png 1024w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Industry-Layoffs-2022-Comparison-Bar-Chart-300x232.png 300w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Industry-Layoffs-2022-Comparison-Bar-Chart-768x593.png 768w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Industry-Layoffs-2022-Comparison-Bar-Chart-730x564.png 730w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Industry-Layoffs-2022-Comparison-Bar-Chart.png 1056w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure><\/div>\n\n\n<center><a href=\"https:\/\/venngage.com\/templates\/search\/layoffs?preview=e91d9d67-80a7-4e9b-8e23-37587609e34a\" target=\"_blank\" rel=\"noopener\"><button class=\"btn-cta\"><b>CREATE THIS TEMPLATE<\/b><\/button><\/a><\/center>&nbsp;\n\n\n\n<p>Given the uptick of layoffs in tech, our next question was whether certain industries proved more susceptible than others. A dig through worldwide data revealed two industries topping the charts: finance and healthcare.&nbsp;<\/p>\n\n\n\n<p>FinTech has seen over 70 layoffs this year, including investment unicorn <a href=\"https:\/\/www.cnn.com\/2022\/08\/02\/tech\/robinhood-layoffs-crypto-fine\/index.html\" target=\"_blank\" rel=\"noreferrer noopener\">Robinhood<\/a> and Canadian investment service Wealthsimple. Meanwhile in HealthTech, San Fran-based <a href=\"https:\/\/www.sfgate.com\/bayarea\/article\/San-Francisco-genetics-Invitae-layoffs-17339329.php\" target=\"_blank\" rel=\"noreferrer noopener\">Invitae<\/a> and healthcare automation startup <a href=\"https:\/\/www.fiercehealthcare.com\/health-tech\/olive-cuts-450-staff-ceo-cites-missteps-fast-growth-lack-focus\" target=\"_blank\" rel=\"noreferrer noopener\">Olive<\/a> contributed to the list of 60+ companies who\u2019ve conducted mass layoffs in 2022.&nbsp;<\/p>\n\n\n\n<p>And despite industry differences, virtually all whistle the same tune: after unprecedented pandemic gains, miscalculations followed. Then, volatile economic realities \u2014 paired with shifting consumer behaviors \u2013 led to fizzled out fantasies of growth.<\/p>\n\n\n\n<p><strong><a href=\"#toc\">Return to Table of Contents<\/a><\/strong><\/p>\n\n\n\n\n\n<h2 class=\"wp-block-heading\" id=\"survey\">How can companies better handle layoffs? [Survey results and analysis]<\/h2>\n\n\n\n<p>For tech startups caught in the post-pandemic economic downturn, layoffs are a sad reality \u2014 one only complicated by the complexities of remote work. But, heightened distress caused by poor management choices don\u2019t have to be.&nbsp;<\/p>\n\n\n\n<p>To avoid these situations, Venngage surveyed 30+ HR professionals, corporate leaders and experts to gain insights on how companies can better handle cutbacks.<\/p>\n\n\n\n<p>The next section explores these findings.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What&#8217;s the best way to do a layoff remotely?<\/h3>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><a href=\"https:\/\/venngage.com\/templates\/search\/layoffs?preview=f2edca7a-7342-485d-943d-29d531855168\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Remote-Layoff-Survey-Results-1024x791.png\" alt=\"What's the best way to do a layoff remotely? \" class=\"wp-image-60856\" width=\"700\" srcset=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Remote-Layoff-Survey-Results-1024x791.png 1024w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Remote-Layoff-Survey-Results-300x232.png 300w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Remote-Layoff-Survey-Results-768x593.png 768w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Remote-Layoff-Survey-Results-730x564.png 730w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Remote-Layoff-Survey-Results.png 1056w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure><\/div>\n\n\n<center><a href=\"https:\/\/venngage.com\/templates\/search\/layoffs?preview=f2edca7a-7342-485d-943d-29d531855168\" target=\"_blank\" rel=\"noopener\"><button class=\"btn-cta\"><b>CREATE THIS TEMPLATE<\/b><\/button><\/a><\/center>&nbsp;\n\n\n\n<p>Mass layoffs can be devastating \u2014 even more so when employees are treated indiscriminately. That\u2019s why 71% of HR professionals surveyed believe remote layoffs are best done on a 1:1 basis.&nbsp;<\/p>\n\n\n\n<p>Addressing individuals as, well, individuals shows respect and consideration for the time they\u2019ve dedicated to your company. It\u2019s also an opportunity for leaders to explain why layoffs are happening, and take responsibility for the decisions leading up to it.&nbsp;<\/p>\n\n\n\n<p>While this may be time-consuming (depending on the number of employees affected), speaking individually with your employees is the ethical choice. Human decency trumps efficiency when people\u2019s livelihoods are on the line. <\/p>\n\n\n\n<p>(But, if 1:1s really are too much of a logistical headache, small groups that invite dialogue are an option.)<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">How can companies best support laid off employees?<\/h3>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><a href=\"https:\/\/venngage.com\/templates\/search\/layoffs?preview=47f07f16-171d-415f-9ab8-2e0fef387b17\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Employee-Support-Survey-Results-1024x791.png\" alt=\"How can companies best support laid off employees?\" class=\"wp-image-60857\" width=\"700\" height=\"540\" srcset=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Employee-Support-Survey-Results-1024x791.png 1024w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Employee-Support-Survey-Results-300x232.png 300w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Employee-Support-Survey-Results-768x593.png 768w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Employee-Support-Survey-Results-730x564.png 730w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Employee-Support-Survey-Results.png 1056w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/a><\/figure><\/div>\n\n\n<center><a href=\"https:\/\/venngage.com\/templates\/search\/layoffs?preview=47f07f16-171d-415f-9ab8-2e0fef387b17\" target=\"_blank\" rel=\"noopener\"><button class=\"btn-cta\"><b>CREATE THIS TEMPLATE<\/b><\/button><\/a><\/center>&nbsp;\n\n\n\n<p>A good leader takes care of workers while they\u2019re employed; a great leader continues to care for employees after they\u2019ve moved on. So when it comes to layoffs, providing resources is your best option to ensure those impacted can smoothly transition.<\/p>\n\n\n\n<p>From sharing unemployment resources and creating talent hubs, to introducing those affected to your networks, well over 75% of those surveyed said providing resources was key. Which is good news, because research shows <a href=\"https:\/\/www.glassdoor.com\/employers\/blog\/why-employers-should-help-laid-off-workers-find-new-jobs\/\" target=\"_blank\" rel=\"noreferrer noopener\">70% of employees who received outplacement services<\/a> improved their opinion of former employers \u2014 <a href=\"https:\/\/www.huffpost.com\/entry\/how-unhappy-employees-can_b_10029960\" target=\"_blank\" rel=\"noreferrer noopener\">and those reviews matter<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Should CEOs release a public statement when their company does a layoff?&nbsp;<\/h3>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><a href=\"https:\/\/venngage.com\/templates\/search\/layoffs?preview=ac030759-3a2e-403d-b615-ae94b875c1fc\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Public-Statement-Survey-Results.png\" alt=\"Should CEOs release a public statement when their company does a layoff?\" class=\"wp-image-60858\" width=\"700\" srcset=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Public-Statement-Survey-Results.png 1024w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Public-Statement-Survey-Results-300x150.png 300w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Public-Statement-Survey-Results-768x384.png 768w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Public-Statement-Survey-Results-730x365.png 730w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure><\/div>\n\n\n<center><a href=\"https:\/\/venngage.com\/templates\/search\/layoffs?preview=ac030759-3a2e-403d-b615-ae94b875c1fc\" target=\"_blank\" rel=\"noopener\"><button class=\"btn-cta\"><b>CREATE THIS TEMPLATE<\/b><\/button><\/a><\/center>&nbsp;\n\n\n\n<p>In the same way clear communication is important for employees, 61% of respondents say addressing the public is vital. <\/p>\n\n\n\n<p>Beyond quelling the rumor mill, a well-executed statement gives leaders a chance to explain their actions and strategic intentions on record, while providing a boost of assurance to corporate stakeholders as well.<\/p>\n\n\n\n<p>AirBnB CEO Brian Chesky\u2019s <a href=\"https:\/\/news.airbnb.com\/a-message-from-co-founder-and-ceo-brian-chesky\/\" target=\"_blank\" rel=\"noreferrer noopener\">open letter<\/a> is a great example of public statements done right.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What lesson should companies take away from the layoffs in 2022?<\/h3>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><a href=\"https:\/\/venngage.com\/templates\/search\/layoffs?preview=7c9d5dd0-f306-4ccb-bb1c-18728789e3a7\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Layoff-Takeaways-Survey-Results-1024x791.png\" alt=\"What lesson should companies take away from the layoffs in 2022?\" class=\"wp-image-60859\" width=\"700\" srcset=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Layoff-Takeaways-Survey-Results-1024x791.png 1024w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Layoff-Takeaways-Survey-Results-300x232.png 300w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Layoff-Takeaways-Survey-Results-768x593.png 768w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Layoff-Takeaways-Survey-Results-730x564.png 730w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Layoff-Takeaways-Survey-Results.png 1056w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure><\/div>\n\n\n<center><a href=\"https:\/\/venngage.com\/templates\/search\/layoffs?preview=7c9d5dd0-f306-4ccb-bb1c-18728789e3a7\" target=\"_blank\" rel=\"noopener\"><button class=\"btn-cta\"><b>CREATE THIS TEMPLATE<\/b><\/button><\/a><\/center>&nbsp;\n\n\n\n<p>Two choices ranked highest when we asked respondents how companies can learn from the recent influx of layoffs:<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Keep lines of communication open<\/strong><\/h4>\n\n\n\n<p>No one likes being left in the dark \u2014 especially when it comes to their career. That\u2019s why over \u00bc of all respondents recommended keeping lines of communication open.&nbsp;<\/p>\n\n\n\n<p>By inviting communication and being transparent about your layoff processes, you not only show regard for employees\u2019 contributions and clear up any confusion, you affirm your understanding of the weight this decision carries. (Companies who suffer most in the court of public opinion usually fail on all three fronts.)&nbsp;<\/p>\n\n\n\n<p>These will be difficult conversations to have, no doubt. But you owe employees a dignified exit. And while ongoing communication doesn\u2019t lessen the impact, it does ensure the experience isn\u2019t any harder than it has to be.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Hire conservatively moving forward<\/strong><\/h4>\n\n\n\n<p>It should come as no surprise that \u00bc of professionals surveyed urged for more conservative hiring approaches.&nbsp;<\/p>\n\n\n\n<p>As you\u2019ll recall, much of 2022\u2019s tech layoffs were wrought from ballooning venture capital and overestimated growth. (Even big kahunas like Apple, Meta and Microsoft have instilled hiring freezes.) Faced with the need to right-size workforces and return to a more sustainable pace, we recognize now that 2021\u2019s growth targets are no longer feasible.&nbsp;<\/p>\n\n\n\n<p>Does that mean all those in tech should pump the breaks entirely?&nbsp;<\/p>\n\n\n\n<p>No. But being proactive against future layoffs means learning from past mistakes. When the tides inevitably change, we\u2019d all do well to remember that sustainability is key.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Do you have any other advice for leaders who need to do a layoff?&nbsp;<\/h3>\n\n\n\n<p>After analyzing the survey results from our open-ended prompt, a few themes emerged:<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>DON&#8217;T get caught up in personal details<\/strong><\/h4>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><a href=\"https:\/\/venngage.com\/templates\/search\/layoffs?preview=cbaeee9d-7ea6-4a12-b04d-249fd00584f1\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/HR-Leader-Photo-Quote-LinkedIn-Post-1024x536.png\" alt=\"Employees understand when you just share the facts. Be honest, don't apologize because leadership makes hard decisions. \u2014 Patricia Bell Burnett, Director of Culture &amp; HR at Justice in Motion\" class=\"wp-image-60863\" width=\"700\" srcset=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/HR-Leader-Photo-Quote-LinkedIn-Post-1024x536.png 1024w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/HR-Leader-Photo-Quote-LinkedIn-Post-300x157.png 300w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/HR-Leader-Photo-Quote-LinkedIn-Post-768x402.png 768w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/HR-Leader-Photo-Quote-LinkedIn-Post-730x382.png 730w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/HR-Leader-Photo-Quote-LinkedIn-Post.png 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure><\/div>\n\n\n<center><a href=\"https:\/\/venngage.com\/templates\/search\/layoffs?preview=cbaeee9d-7ea6-4a12-b04d-249fd00584f1\" target=\"_blank\" rel=\"noopener\"><button class=\"btn-cta\"><b>CREATE THIS TEMPLATE<\/b><\/button><\/a><\/center>&nbsp;\n\n\n\n<p>When conducting layoffs, the focus should stay on laid-off employees. Yet time and time again, leaders are caught making their emotions the star of the show. (Remember the Better.com blunders? How about the HyperSocial CEO\u2019s <a href=\"https:\/\/mashable.com\/article\/linkedin-ceo-crying-viral-photo\" target=\"_blank\" rel=\"noreferrer noopener\">LinkedIn posts<\/a>?)<\/p>\n\n\n\n<p>So do your best to center those affected, be honest with them and share the facts. No matter how difficult the situation is for you, know that they have to process something a lot more challenging. <\/p>\n\n\n\n<p>The actions you take moving forward are your key to communicating real empathy. <\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>DON\u2019T cut off access without explanation<\/strong><\/h4>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><a href=\"https:\/\/venngage.com\/templates\/search\/layoffs?preview=a17edbc2-f2a3-4056-88f2-6cbbb0168ae6\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Leader-Photo-Quote-Facebook-Post-1024x536.png\" alt=\"Communicate and support both the employees that are being laid off and those that are being retained. \u2014 Lindsay Duston, COO at Find My Profession\" class=\"wp-image-60864\" width=\"700\" srcset=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Leader-Photo-Quote-Facebook-Post-1024x536.png 1024w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Leader-Photo-Quote-Facebook-Post-300x157.png 300w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Leader-Photo-Quote-Facebook-Post-768x402.png 768w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Leader-Photo-Quote-Facebook-Post-730x382.png 730w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/Leader-Photo-Quote-Facebook-Post.png 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure><\/div>\n\n\n<center><a href=\"https:\/\/venngage.com\/templates\/search\/layoffs?preview=a17edbc2-f2a3-4056-88f2-6cbbb0168ae6\" target=\"_blank\" rel=\"noopener\"><button class=\"btn-cta\"><b>CREATE THIS TEMPLATE<\/b><\/button><\/a><\/center>&nbsp;\n\n\n\n<p>Communication transcends speech and body language; our actions speak a thousand words.<\/p>\n\n\n\n<p>With this in mind, don\u2019t initiate conversations <em>after<\/em> you\u2019ve already barred laid-off employees from accessing their workspaces. Beyond being confusing for the uninformed, cutting access without clarifying the reasons comes off more like a callous reprimand than a tough decision made for strategic reasons.<\/p>\n\n\n\n<p>Again, you owe laid-off employees clear communication and a dignified exit \u2014 surreptitiously pulling the plug accomplishes neither.<\/p>\n\n\n\n<p>Of course, there will be sensitive situations that require a nuanced approach. But by and large, you should always aim to provide an explanation, via two-way conversation, before pulling the trigger.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>DO plan the process start to finish and consult professionals&nbsp;<\/strong><\/h4>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><a href=\"https:\/\/venngage.com\/templates\/search\/layoffs?preview=38b814e4-c57d-4e45-8eea-3423be7bc9ee\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/HR-Photo-Quote-LinkedIn-Post-1024x536.png\" alt=\"Seek outside expertise from organizations who can support your company through this, and whose purpose is to support you and your existing employees. \u2014 Melanie Morris, Head of People and Culture at MIMOSA Diagnostics\" class=\"wp-image-60861\" width=\"700\" srcset=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/HR-Photo-Quote-LinkedIn-Post-1024x536.png 1024w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/HR-Photo-Quote-LinkedIn-Post-300x157.png 300w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/HR-Photo-Quote-LinkedIn-Post-768x402.png 768w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/HR-Photo-Quote-LinkedIn-Post-730x382.png 730w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/HR-Photo-Quote-LinkedIn-Post.png 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure><\/div>\n\n\n<center><a href=\"https:\/\/venngage.com\/templates\/search\/layoffs?preview=38b814e4-c57d-4e45-8eea-3423be7bc9ee\" target=\"_blank\" rel=\"noopener\"><button class=\"btn-cta\"><b>CREATE THIS TEMPLATE<\/b><\/button><\/a><\/center>&nbsp;\n\n\n\n<p>Selecting which roles to eliminate is just the beginning. If you want the bad news to be received as positively as humanly possible, you\u2019ll need to plan every aspect with diligence and care. <\/p>\n\n\n\n<p>From notifying staff and preparing your explanation, to fielding emotions and following up with next steps, make sure to consider not only your company values, but your employees\u2019 experiences in the actions you take.<\/p>\n\n\n\n<p>One suggestion from the survey that I find particularly salient is to seek outside advice from experts. Whether that be lawyers, labor relations specialists or HR professionals external to your company (like those featured here),&nbsp;this move informs your approach with fresh perspectives, and ensures your bases are covered to boot.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>DO communicate a clear path forward to support existing employees&nbsp;<\/strong><\/h4>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><a href=\"https:\/\/venngage.com\/templates\/search\/layoffs?preview=326e3f7b-8cf6-4d63-ac9f-886ebb047403\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/CEO-Photo-Quote-Facebook-Post-1024x536.png\" alt=\"Communication and transparency are key. Communicate a clear plan post-layoff and treat your folks well. \u2014 Rob Carmichael, CEO @ CampBrain\" class=\"wp-image-60862\" width=\"700\" srcset=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/CEO-Photo-Quote-Facebook-Post-1024x536.png 1024w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/CEO-Photo-Quote-Facebook-Post-300x157.png 300w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/CEO-Photo-Quote-Facebook-Post-768x402.png 768w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/CEO-Photo-Quote-Facebook-Post-730x382.png 730w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/CEO-Photo-Quote-Facebook-Post.png 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure><\/div>\n\n\n<center><a href=\"https:\/\/venngage.com\/templates\/search\/layoffs?preview=326e3f7b-8cf6-4d63-ac9f-886ebb047403\" target=\"_blank\" rel=\"noopener\"><button class=\"btn-cta\"><b>CREATE THIS TEMPLATE<\/b><\/button><\/a><\/center>&nbsp;\n\n\n\n<p>Remember: layoffs don\u2019t happen in a vacuum. Those left behind won\u2019t only have to reconcile questions over their own job security&nbsp; \u2014 they\u2019ll need to handle increasing workloads, a rocky workplace culture and the absences of close colleagues.&nbsp;<\/p>\n\n\n\n<p>That\u2019s why acknowledging survivors\u2019 guilt and giving everyone time to process is just as key as&nbsp; communicating your company\u2019s next steps. In the same way keeping lines of communication open with laid-off employees is vital, your remaining staff will need the confidence boost that comes from your transparency and proactivity moving forward.<\/p>\n\n\n\n<p>Make sure those still standing are well aware of your expectations, and know who will pick up responsibilities left behind. If you\u2019re unable to meet with team members individually, scheduling a Q&amp;A period is a great call.&nbsp;<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><a href=\"https:\/\/venngage.com\/templates\/search\/layoffs?preview=dbcb1cfb-e0aa-4eb9-9059-c91350d0e8de\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/HR-Advice-Word-Cloud-791x1024.png\" alt=\"Advice for leaders who need to do a layoff\" class=\"wp-image-60860\" width=\"700\" srcset=\"https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/HR-Advice-Word-Cloud-791x1024.png 791w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/HR-Advice-Word-Cloud-232x300.png 232w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/HR-Advice-Word-Cloud-768x994.png 768w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/HR-Advice-Word-Cloud-730x945.png 730w, https:\/\/venngage-wordpress.s3.amazonaws.com\/uploads\/2022\/08\/HR-Advice-Word-Cloud.png 816w\" sizes=\"(max-width: 791px) 100vw, 791px\" \/><\/a><\/figure><\/div>\n\n\n<center><a href=\"https:\/\/venngage.com\/templates\/search\/layoffs?preview=dbcb1cfb-e0aa-4eb9-9059-c91350d0e8de\" target=\"_blank\" rel=\"noopener\"><button class=\"btn-cta\"><b>CREATE THIS TEMPLATE<\/b><\/button><\/a><\/center>&nbsp;\n\n\n\n<p><strong>So, how do companies stack up against this advice?&nbsp;<\/strong><\/p>\n\n\n\n<p>In most instances, layoffs include a mix of &#8220;right&#8221; and &#8220;wrong&#8221; moves. Let&#8217;s take a look at a concrete example to put everything we&#8217;ve talked about into context&#8230;&nbsp;<\/p>\n\n\n\n<p><strong><a href=\"#toc\">Return to Table of Contents<\/a><\/strong><\/p>\n\n\n\n\n\n<h2 class=\"wp-block-heading\" id=\"coinbase\">Case study: Coinbase\u2019s layoff&nbsp;<\/h2>\n\n\n\n<p>Remember how Coinbase nearly tripled its workforce?&nbsp;<\/p>\n\n\n\n<p>Well, the writing on the wall prevailed: this past June, the cryptocurrency exchange platform joined the growing list of tech companies conducting layoffs. <a href=\"https:\/\/www.npr.org\/2022\/06\/14\/1105026558\/coinbase-cryptocurrency-layoffs\" target=\"_blank\" rel=\"noreferrer noopener\">Nearly 20% of employees<\/a>, or about 1,100 people, were affected.<\/p>\n\n\n\n<p>In an email to employees later posted on Coinbase\u2019s company blog, CEO and founder Brian Armstrong attributed the layoffs to a coming recession, a \u201ccrypto winter\u201d and the now-familiar refrain of growing too quickly.<\/p>\n\n\n\n<p>If our survey is anything to go by, Armstrong\u2019s public statement was the right move to make.&nbsp;But, there were also a few missteps along the way.<\/p>\n\n\n\n<p> Let\u2019s take a look at what worked, and what could\u2019ve been handled better:&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What worked<\/h3>\n\n\n\n<p>Coinbase did well to acknowledge the decisions leading up to layoffs. They also succeeded in offering a robust severance package and resource pool:&nbsp;<\/p>\n\n\n\n<ol>\n<li><em>Minimum of 14 weeks of severance plus an additional 2 weeks for every year of employment beyond 1 year<\/em><\/li>\n\n\n\n<li><em>Access to Talent Hub, where members of Coinbase\u2019s team will work to connect with you with open positions at other firms (including portfolio companies from Coinbase Ventures and other top crypto VC funds<\/em><\/li>\n\n\n\n<li><em>4 months of COBRA health insurance in the US, and 4 months of mental health support globally<\/em><\/li>\n<\/ol>\n\n\n\n<p>After all, the cost of layoffs is not solely financial \u2014 it\u2019s emotional: a <a href=\"https:\/\/www.sciencedirect.com\/science\/article\/abs\/pii\/S0001879109000037\" target=\"_blank\" rel=\"noreferrer noopener\">capstone meta-analysis of 324 studies <\/a>found unemployed people were more distressed, less satisfied with their lives and more likely to report psychological problems. Emotional and financial upset go hand-in-hand, and Coinbase seemed to recognize that.&nbsp;<\/p>\n\n\n\n<p>Yet despite taking responsibility and offering material support, many ex-employees decried their actions.<\/p>\n\n\n\n<p>Here\u2019s where things get a bit sticky\u2026<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What could&#8217;ve been handled better<\/h3>\n\n\n\n<p>For one, news of the company\u2019s financial problems was not exactly\u2026news. The value of cryptocurrency had dipped dramatically in the preceding weeks. And as the first publicly-traded crypto company, Coinbase\u2019s stocks tanked in return.&nbsp;<\/p>\n\n\n\n<p>Many employees reported flagged concerns to leadership in the days leading up. Instead, they were assured layoffs were \u201cnot in discussion\u201d, that they should \u201c<a href=\"https:\/\/www.businessinsider.com\/tech-industry-layoffs-tesla-coinbase-facebook-2022-7\" target=\"_blank\" rel=\"noreferrer noopener\">keep chugging along as normal<\/a>\u201d.&nbsp;<\/p>\n\n\n\n<p>What followed was a hiring freeze. Then, existing job offers were rescinded. Some resigned. A vote of no-confidence rumored.<\/p>\n\n\n\n<p>And yet still no word from leadership.&nbsp;<\/p>\n\n\n\n<p>Which brings us to that Tuesday, when Coinbase\u2019s CEO broke the news by stating those affected would be notified via their personal email addresses. Armstrong cited the need to <em>\u201ccut access to Coinbase systems\u2026<\/em>t<em>o ensure not even a single person made a rash decision that harmed the business or themselves.\u201d<\/em><\/p>\n\n\n\n<p>Unsurprisingly, this move caught many off-guard \u2014 especially considering the preceding warning was M.I.A for most: their work email accounts had already been frozen.&nbsp;<\/p>\n\n\n\n<p>Beyond the dismay that echoed across LinkedIn, the survey results explain why Coinbase\u2019s remediation efforts fell short. Because despite a robust severance package, our respondents know there are some things money can\u2019t buy&#8230;<\/p>\n\n\n\n<p>Transparency, clarity and human-to-human conversation.&nbsp;&nbsp;<\/p>\n\n\n\n<p><strong><a href=\"#toc\">Return to Table of Contents<\/a><\/strong><\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"compassion\">The bottom line: planning, compassion and resources go a long way<\/h2>\n\n\n\n<p>If one thing\u2019s for sure, it\u2019s that layoffs are difficult.&nbsp;<\/p>\n\n\n\n<p>But HR, leaders and managers can help employees <em>and <\/em>companies by listening and learning from other industry professionals. With careful planning, a healthy dose of compassion and a thoughtful provision of resources, you can prove your company culture through the actions you take.&nbsp;<\/p>\n\n\n\n<p>And as someone who\u2019s been on the receiving end of a layoff, I\u2019ll leave you with this: there are silver linings to be found.&nbsp;<\/p>\n\n\n\n<p>The overall job market is still robust. Camaraderie exists amongst the chaos.&nbsp;<\/p>\n\n\n\n<p>More opportunities await.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stay tuned (or skip ahead!), the survey results are in\u2026 Twelve loyal employees hop on a Zoom call. Less than two minutes later, they\u2019re booted off all accounts. Half-written messages to co-workers expressing their shock are forever left in suspension on Slack.&nbsp; Some of these employees have been with the company for years. They stuck [&hellip;]<\/p>\n","protected":false},"author":142,"featured_media":60848,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false},"categories":[95,607],"tags":[243],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<meta name=\"description\" content=\"With all the layoffs in 2022, we had to ask: can companies handle layoffs better? See the results of our survey, including an original infographic...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/venngage.com\/blog\/layoffs-infographic\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is There a \u201cRight\u201d Way To Do Layoffs? 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