Cutbacks and layoffs in times of economic slide or downturn for any company are a reality. Mean and leaner times are phrases which every chief executive officer fears he or she might have to say one day during his or her tenure as an executive. The key importance to handling these issues for the executives, and more importantly, for the human resources manager is handling these issues in ways which leaves the employees with his or her dignity in tack, with sensitivity, involves strategizing early in the downturn time, and how to leave the employee with trust or respect for the company once the ax has fallen (Lloyd, 2001). This paper will focus on key management strategies Cox Target Media faced when executives began cutbacks and layoffs of the company's employees located at the Elm City, North Carolina production facility during the early years of 2000.
"Cox Target Media, Inc.,
Adapted from Wikipedia's NC county maps by Seth Il...
Locator Map of Wilson County, North Carolina, Unit...
Flag of Largoprovider of Valpak network products, is a company of Cox Newspapers, which is owned by Cox Enterprises Incorporated" (CTM, 2006). The company's headquarters are located in Largo, Florida, with 12 operational plants throughout the United States. Cox Target Media, Inc. uses branded media, such as the blue Valpak envelopes or Carol Wright advertising, to connect advertisers with the company's audience, the buyer. Cox Target Media has recently announce plans to shut down operations at two of the companies key plants in efforts to consolidate operations at a new state-of-the-art facility being built in St. Petersburg, Florida. Closing the Elm City plant may prove to be detrimental to the survival of the town as city population according to the 2000 census is only at 1,388 individuals. Elm City is where most of the plants employees live in or nearby, go to work, and go to shop. In a strategic move...