How to Avoid Layoffs: Cost-Cutting Strategies for Business
Cornerstone On Demand - Talent Management
MAY 4, 2020
And to save immediate payroll costs, place salary adjustments and merit-based increases on hold as well. For non-sales staff, halt all incentive payments immediately. Communicate these changes to your employees, explaining that to save jobs, the business must be as lean as possible—therefore, bonuses must be sacrificed. This way, a company can save on its payroll spend while still keeping workers employed.