Recession Doesn’t Have to Mean Retreat – SPONSOR CONTENT FROM COUPA

by Rob Bernshteyn

The recession may not be real to all economists, but it is all too real for businesses around the world. Organizations are looking for ways to safeguard themselves, with many cutting costs, including the jobs of thousands of people who helped these companies through a global pandemic.

The recession pack mentality is clear: reduce costs, reduce costs, and reduce costs. In the technology sector, this mentality has taken hold at established brands and startups alike—this year, nearly 300 U.S. tech companies laid off 45,000 employees by October.

Tech isn’t alone. Cuts stretch across industries, segments, and markets. Tens of thousands of jobs are disappearing from manufacturing, health care, real estate, financial services, and retail.

The truth is that recession doesn’t need to mean retreat. Smart decisions in tough times can be the foundation for years of success. But organizations must be willing to make…

Continue Reading →

This article was written by and originally published on hbr.org