Company Layoffs
Case study
Overview
Tech company experiencing extreme growth failed to secure its next round of funding and needed to lay off approximately ⅓ of the team.
Challenge
The leadership team was relatively inexperienced in making difficult decisions and conducting separation conversations and needed help with actually doing the layoffs.
VIVO SOLUTION
We created the process, timeline, and communications to streamline the layoffs as much as possible, and 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 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, we helped the leadership team and employees through a difficult situation by providing as much support and clarity as possible.
