Layoffs persist in retail as many companies look to lower costs. Managing Partner Matt Katz shared his thoughts on the current state of retail in “Why More Retailers are Introducing New Rounds of Layoffs” for Modern Retail.
Matt explains the current environment, “As the macroeconomic scene is getting tougher and tougher and tougher, you’re running out of runway as an organization to react to what’s in front of you. I think what you’re seeing are organizations that did not make adjustments in plans along the way and are now just making a very quick and harsh adjustment.”
He continues, sharing his perspective on companies facing layoffs, “There is a saying that you should take one bite of the apple. The first adjustment should be the majority of or all of what’s happening. It’s really a difficult situation for executives to make multiple adjustments. The team quickly loses faith in the message.”
Read the full article here.
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