TradeBriefs Editorial

From the Editor's Desk

Instead of Laying off 20 Percent of His Company, This CEO Made an Unusual Decision. It's a Lesson in Emotional Intelligence

Covid-19 is ravaging the global economy and presenting employers with unprecedented challenges. For Gravity chief executive Dan Price, that challenge was crushing: The company's revenue had essentially been cut in half. Price was faced with a grave decision: Lay off 20% of his employees or go bankrupt.

Price refused to accept either option. Instead, he decided to do something almost unheard of in today's business environment:

He asked his employees what to do.

"As a CEO, I don't believe in top-down decisions," Price said on Twitter. "I spent 40 hours talking with every employee about our finances and asked for ideas."

What followed was a master class in emotional intelligence -- and a major lesson in how to run a business in the face of difficult challenges.

Continued here


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