Saturday, September 22, 2012

Creative Destruction includes Layoffs

Yaron Brook and Don Watkins have a good take on layoffs.  I particularly liked this point:
Why is this even controversial? Because we have a weird double standard. When an employee leaves a company for greener pastures—maybe higher pay, maybe more satisfying work, maybe a more pleasant commute—nobody complains. Of course he should do what’s best for him.
But when a business does the same thing? When it judges that some jobs are draining profits and need to be cut? Then it’s as if some nefarious sin has been committed.

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