You Over Hired and Now You Need to Trim the Excess

In 1995, almost 45% of these companies handed out pink slips. CEOs simply feared that a recession was on the cards even though it didn't really materialize. Stanford professor Jeffrey Fiefer calls it social contagion. The future is ambiguous. You over hired and now you need to trim the excess. So you look around and see your peers laying off 5-7% of their workforce. And you think that's the sweet spot. So you do it too. No one can blame you for going with the herd.