Stanford professor Jeffrey Pfeffer suggests companies incur big costs when they cut their labor forces,and should turn to evidence-based decision making for accurate guidance.

Question

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What are the costs of layoffs? While agreeing that there are circumstances in which layoffs are necessary for a firm to survive (as when an industry is shrinking or competitors are resorting to cheaper overseas labor),Stanford professor Jeffrey Pfeffer suggests companies incur big costs when they cut their labor forces.He advocates the use of evidence-based decision making to determine the true costs and impact.

Stanford Professor Jeffrey Pfeffer Suggests Companies Incur Big Costs When