Corporate leaders need to look for some other avenues of cost-cutting. They should remember that their future is in the hands of employees Recessions are part of business cycles.
In the past 100 years, the world has faced severe economic downturns every few decades. The reasons have been different, but all of them have caused massive disruption, from mass unemployment to falling of governments.
Still, most leaders, political, corporate or social, have not learned to deal with such uncertain times. Let’s take the 2001 and 2008 recessions, for instance.
The post-2001 recession economic boom/globalization resulted in a massive wealth build-up for shareholders, predominantly because they were seen as risk-takers.