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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