Mass layoffs not the way to profitability

First casualty: Employees pack items at an Amazon fulfillment centre. Companies can avoid such need for massive layoffs if they practise responsible recruitment and ethical hiring. — Bloomberg

WITH recessionary talks dominating headlines, we start to see major companies around the world embarking on large-scale cost cutting measures. The measures often begin by targeting the workforce and implementing massive layoffs.

Mark Zuckerberg, founder of Meta Platforms Inc (formerly known as Facebook Inc) in an open letter last year, announced that it would be laying off 11,000 employees or 13% of its workforce.