The recent media coverage about TCS asking 500 employees to leave and Yahoo handing over pink slips to 40 employees has not been positive. I believe that this negative feeling is rooted mainly in the class beliefs and from what we have seen during the last 60 years.
Both companies and media have to be sensitive to the pink slip issue and see that it doesn't create negative coverage. Firms should take care of this issue by having a good outplacement process and media should avoid blowing it out of proportion.
I have been part of a situation where the firm had to lay off more than 600 employees within a very short time. The issue wasn't related to individual so much, but it was a regulatory shock to the business. But the CEO and Head-HR handled it pretty well by going beyond what they needed to do. Apart from negotiating for decent compensation for those who were getting laid off, they also worked closely with other firms that were interested to recruit the employees who were getting laid off. At the end of the whole thing all the employees who got laid off were more happy than those who remained behind.
While it may be difficult for every company to do something like this, they should take enough care that employees who have to be laid off are not emotionally disturbed and protect their brand equity among current and future employees.
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