Redundancies Not Best Option ; the Voice of the Westcountry

Summary

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NO GOOD business really wants to get rid of staff. Redundancies may seem like an easy option to reduce costs in a recession, but more often than not it proves to be a false economy.

While the economy is still on downturn mode, its cyclical nature means things will pick up sooner or later. If firms lose workers with experience and skills as they try to bridge the recession gap, they may not be able to recruit staff of the same calibre during the upswing. It is a risk they take. Instead, they will waste valuable time, money and effort to bring their workforce up to speed in the good times.

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Redundancies Not Best Option ; the Voice of the Westcountry

Hence the false economy. Of course, this is not the case for every business. A large number re...

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