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The recent trend of easy money and exorbitant valuations has stalled amid recent economic volatility. Understandably, many companies rode this wave for as long as they could, but in doing so, many prioritized growth over sustainability and sound leadership. Layoffs continue to ripple through the tech ecosystem, leaving workers in the sector and elsewhere feeling the effects.
Laying off employees is all but inevitable in a company’s life cycle, but there is always more that can be done to keep companies afloat while maintaining morale. Strategies can include responsible budgetary decisions, thoughtful and prudent responses to external pressures, and transparent dialogue with employees, to name a few. Such measures can help companies stay healthy, productive and profitable even when navigating difficult waters.