“Speed Kills”
In an article in the September 2008 issue of Conde Nast Portfolio, Booz & Company Partner Kaj Grichnik (Europe) was quoted on the toll that restructuring can put on employees, particularly in a sagging economy. With most restructuring efforts following a predictable pattern of reduced budgets, layoffs among well-trained workers, and new-operations in cheaper parts of the world, manufacturers are alienating themselves from their most critical asset: their employees. “In ­exchange for working harder and harder, most manufacturers offer their workers static salaries, decreasing benefits, increasing anonymity, and abuse from middle managers,” Grichnik said. “And when workers feel that they ­are not being treated with respect, the company suffers.”