Chicago Booth Review Podcast How to make the best of layoffs
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Jan 29, 2025 Lisa Stefanik, an expert in interpersonal dynamics at Chicago Booth, shares valuable insights on the often uncomfortable subject of layoffs. She discusses how to communicate layoffs more humanely and consider the emotional impacts on both affected employees and remaining staff. Stefanik emphasizes the importance of compassionate messaging, strategies for managing these conversations with empathy, and utilizing professional networks post-layoff. She also highlights how to embrace layoffs as potential opportunities for growth.
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Three Languages of Layoff Communication
- Use the three languages of communication: care, meaning, and action.
- Address the human impact, explain the "why," and detail the "how."
The 'How' of Layoffs Matters
- Companies often prioritize the "why" and "who" of layoffs over the "how".
- This transactional approach leads to reputational damage and erodes trust.
Airbnb's Layoff Approach
- Brian Chesky of Airbnb led layoffs well by being upfront and addressing emotions.
- He explained the rationale and offered support to those laid off.