Overview
Tech company experiencing extreme growth hit a roadblock when it failed to secure its next round of funding, forcing them to make the difficult decision to lay off approximately ⅓ of their team.
Challenge
The leadership team was relatively inexperienced in navigating the complexities of layoffs. They needed expert guidance on how to make these difficult decisions while handling the process professionally and legally. They also wanted help conducting separation conversations and facilitating the layoffs themselves.
VIVO Solution
VIVO created a process, timeline, and communication coaching to streamline the layoffs as much as possible, and we consulted with an employee law attorney on any potential risk areas. We then engaged a partner to help with outplacement support, including resume and interview preparation to support the affected employees.
To help make the process as clear and supportive as possible, we proactively anticipated questions employees may have. We assembled packets in advance for impacted employees that included:
- The separation agreement;
- A summary letter of key takeaways, including potential impact to stock options;
- COBRA insurance information; and
- Resources for outplacement support.
We coached leadership in advance on what to say and not say during the separation conversations and drafted written communications for leadership to share related to the layoffs.
Result
Any separation process is never easy, especially for the individual(s) who are impacted. However, VIVO’s structured, thoughtful approach helped leadership address the difficult situation with confidence and care. By providing clarity, support, and compassion to those affected, while also staying on top of legal compliance, we minimized disruption to the company and helped support everyone through the transition.
