I read today that Charles Schwab has decided to jump on the lay-off wagon to cut costs but has taken a different approach.
Instead of completely laying off employees, Schwab has asked that people take a voluntary series of Fridays off without pay.
Is this not a win-win situation? Schwab achieves the necessary cost-cutting and employees get some three-day weekends. Granted, the paychecks are going to be a bit lighter but when you consider the prospect of tracking down a new job, it sounds alright to me. The employees’ benefits remain intact.
So, what do you all think about this? As Managers do you think that this is efficient? As employees further down the ladder, would this work for you? One thing is certain, it beats the heck outof packing a box and closing the door behind you . . . perhaps for good.
