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Not surprisingly, companies that were hit hard by the pandemic downturn were much more likely to lay off employees, even if those companies had been in strong financial shape beforehand. But hard-hit companies that benefited from strong cash reserves were only half as likely as their financially weaker counterparts to impose layoffs. “If companies had cash reserves, they seemed willing to use some of them to help their employees,” Lester says. At least as important, however, was whether a company had previously made a strong commitment to treat its workers well. In fact, companies with strong finances but weak commitments to workers were more likely to lay off employees than were companies with similarly strong finances and strong commitments to their workforce.

United statesBraden williamsEthan rouen at harvard business schoolUniversity of texasGoldman sachsMost just companies in americaRebecca lesterStanford graduate schoolGreat depressionEthan rouenHarvard business schoolJust capitalMost just companiesஒன்றுபட்டது மாநிலங்களில்பிராடன் வில்லியம்ஸ்பல்கலைக்கழகம் ஆஃப் டெக்சாஸ்