A Matter Of Shared Sacrifice As Layoffs And Furloughs Increase
When the housing bubble fueled economic downturn hit, we heard a great deal about the concept of shared sacrifice. This is where one group of stakeholders won’t be asked to make larger concessions than others. While the concept was implemented with varying degrees of sincerity, groups that engaged in a meaningful approach to shared sacrifice tended to reap the benefits of improved relations and accelerated recovery. As COVID-19 layoffs and furloughs …