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Only one-third of companies that cut a significant number of jobs manage to achieve an increase in overall profitability, while almost 90 per cent see a reduction in employee morale and productivity. Firms can avoid these pitfalls by taking the following 10 steps:
1 Plan the job cuts methodically by evaluating and retaining the skills you need to sustain and improve business performance.
2 Know your legal obligations and inform employees of their...
