Season 9 | Ep16 Logan Naidu: How he made 100 cuts after a £30M deal (and survived the downturn)

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Previously titled “Season 9 | Ep 16 Logan Naidu: How he made 100 cuts after a £30M deal (and survived the downturn)” — renamed by the publisher on Aug 2, 2026

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Recorded04 Feb 2026

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Logan Naidu runs Kernel Global-a multi-brand recruitment group with 200 people across London, Hong Kong, Charlotte and New York.We first spoke in April 2021. He had 180 people. The market was about to explode.2021: £7 million EBITDA. 2022: £10 million EBITDA. Headcount doubled to 300.Then March 2023 hit. Logan closed a second PE deal. Paid out over £30 million to staff. The biggest individual payout? Multiple millions.One month later, he started making cuts."I remember talking to my father-in-law saying I'm really embarrassed by this. I've just taken on a load of money from new investors and we're already talking about making cuts and the business shrinking."By the end of 2023, Logan had cut 100 heads—a third of the business.But here's what makes this story different: he saw it coming.December 2022. Their Christmas party. Logan stood up and said: "I think we've forgotten how hard this industry can be. We've had a record year, but we're cutting corners. We're taking clients for granted. That's going to bite us if we don't get back to it really quickly."It was poorly received. Then 2023 happened.This week on The RAG Podcast, Logan breaks down the full story.We cover:Scaling from £4.9M to £10M EBITDA in three years during the boomWhy he warned his team in December 2022 that they'd "forgotten the basics"Closing a PE deal on a Saturday morning hours before Silicon Valley Bank collapsedMaking 100 cuts across two waves (and why the second wave was harder)The criteria he used to decide who stayed: character, work ethic, client treatmentWhy his sleepless nights dropped from 2–3 per week to 2–3 per yearRebuilding to 2022 levels by 2025 with a completely different foundationHis approach to AI, offshoring, and why he won't chase every new toolWhy he still hires graduates despite the cost and cultural shiftsThe plan to double the business again by 2029This isn't about avoiding pain.It's about a founder who moved fast, made hard decisions early, and came out the other side with a business built to last through cycles.If you've ever wondered how the best operators stay level when everyone else is drinking their own Kool-Aid, this episode is the blueprint.__________________________________________Episode Sponsor: Remote RecruitmentHiring shouldn’t be slow, stressful, or expensive. That’s why there’s Remote Recruitment — the smart hiring partner for modern businesses. They don’t just help you find great people. They help you access elite South African talent that’s ready to deliver. No PAYE. No NI. No bloated overheads. Just trained, remote professionals who integrate seamlessly into your team. Their process handles everything: sourcing, shortlisting, onboarding, and retention. Fully managed. Fully supported. Fully remote. And now, Remote Recruitments has entered a new chapter. From ops to admin, sales to strategy, we’re helping businesses scale smarter with people they trust, at a cost they can afford. Clients have seen: * Up to **60% productivity boosts** * **300% ROI** on BD roles...

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