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The Toughest News Releases. Kevin M. Brett J410 May 9, 2013. Why Layoffs?. Insufficient revenue to meet payroll Need to restructure company – Eliminate underperforming businesses Need to eliminate redundancies after acquisitions or mergers Survival. Typical Severance Package.

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the toughest news releases

The Toughest News Releases

Kevin M. Brett

J410

May 9, 2013

why layoffs
Why Layoffs?
  • Insufficient revenue to meet payroll
  • Need to restructure company – Eliminate underperforming businesses
  • Need to eliminate redundancies after acquisitions or mergers
  • Survival
typical severance package
Typical Severance Package
  • Three Weeks Pay, Plus One Full-Week for Every Full Year Worked, Capped at 23 Weeks
  • Outplacement Assistance by Lee Hecht Harrison
  • COBRA continuation for up to 18 months
  • Company takes one-time operating expense GAAP charge to earnings for severance
  • Layoff Letter
key audiences layoff releases
Key Audiences (layoff releases)

Survivors

Impacted employees

Customers, Suppliers

Media, especially local media

Financial and market analysts

amazon rim merger redundancies
Amazon/RIM Merger Redundancies
  • 88,400 Employees
  • 16,500 Employees
nike ua redundancies
Nike/UA Redundancies
  • 44,000 Employees
  • 5,400 Employees
jwn el redundancies
JWN/EL Redundancies
  • 61,500 Employees
  • 38,500 Employees
sbux gmcr redundancies
SBUX/GMCR Redundancies
  • 160,000 Employees
  • 5,800 Employees
layoff release check list
Layoff Release Check List
  • Reason for the 10 percent reduction in force
  • Number of Employees Impacted and Where
  • Expression of Compassion by CEO
  • Reaffirmation of business strategy by CEO
  • Reassurance to Surviving Employees/Customers/Suppliers/Distributors
  • Size of One-Time Charge: 10 percent of the last quarter SG&A expense for both companies.
  • NO APOLOGIES
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