Chip Cutter
speaker
1,085 appearances
18 recordings
1 series
first heard Aug 2019
last heard Sep 2024
Chip Cutter’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · How Companies Decide Which Employees Will Be Laid Off · 29 Mar 2023
podcast
In February, Okta said it would cut 300 employees, or 5% of its staff, after the company said, like others, that it overhired in the pandemic.
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And so many departments across the company were given specific financial cost-cutting targets to meet.
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And they did so in different ways.
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So some of the innovation and product development teams gave priority to keeping people who were working on projects and goals that seemed achievable in a three-year timeline versus a five-year one.
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And Okta elsewhere in the company eliminated some salespeople who were focused on small and medium-sized businesses in North America.
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So you could just see the different choices that the company made here.
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It can be.
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Those who bring in revenue can maybe be a little more safe if they're seen as core to the company.
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But it depends on what the company does.
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It depends on what a company decides it needs to focus on over the next couple of years.
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A layoff can hurt a company's reputation.
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It could jar employees.
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It could hurt a company's culture.
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There are many reasons why a company wouldn't want to go to that drastic step of a big workforce reduction.
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Always a pleasure.
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Thanks for having me.
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It's not.
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Companies have long had ways of pushing employees out without firing them.
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They could reorganize teams or require employees to report to a new boss or make them take on a new project.
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All of those changes could prompt staffers to look elsewhere for work.
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