![]() He also has taken a pay cut in the past.īeyond the sheer location of being laid off, I think we need to start by admitting that being laid off sucks, and managers sadly often make it worse. A lot of CEOs are afraid to do that because of the fear of losing good people. It should also be noted that McDonald’s CEO Chris Kempczinski announced the layoffs would be in April back in January, which gave time for employees to prepare. ![]() They did it to respect “comfort and confidentiality,” which you can roll your eyes at, but I think it’s the right approach. So, the debate about how to lay off is back in the news cycle.Īs such, I got to be on Squawk Box on CNBC Tuesday morning discussing the McDonald’s layoff approach, which seems to be a master class in some respects:īasically, McDonald's canceled in-person meetings and sent employees home to await layoff decisions. Now we’re in a weird economic climate where jobs are available and people need to hire but oh wait maybe some of those jobs are ghost jobs and we’re also seeing massive layoffs, especially in tech.
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