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An organization really popular in Canada that has recently been in news for its downsizing decision is Sobeys. It is one of the biggest grocery companies in Canada that has been under tremendous pressure because of competition for over a year. Especially after COVID when the minimum wages had to be increased for employees as per government guidelines, they were under pressure and decided to downsize by 800 employees across Canada. The downsizing on one side helped them work on revenue and helped them give salaries to the remaining employees, but on the other hand, the remaining employees started feeling insecure and also started looking for other options even at low-cost salaries, so that they are not under threat of losing their jobs next.
The employee and management relations started worsening because of this, and many other employees started leaving the organization.
In this situation, it's very important for the organization to have transparency with the employees in terms of numbers and strategies. Building trust again is important, and looking for collective growth is important to make sure the employee retention ratio is stabilized. Maintaining the brand image and at the same time training the employees to overcome mental stress in these tough situations should be top of the card for them.
Management should at least discuss their plan for long term sustainability with the employees, and instead of laying off more, they should rather cut down the salaries of all the employees partially so that, employees can feel safe with a plan in place to feel original salaries would again be in place after this tough phase is gone.