"If for whatever reason we have another downturn in our business like we had in 1990–91, **our policy is to first cut the fat, freeze hiring, reduce unnecessary travel, and generally trim expenses**. If the crisis were more serious we would eliminate bonuses and reduce salaries of all top-level managers and owners. Then shorten the workweek and reduce pay, and finally, as a last resort, lay people off." ([Location 2706](https://readwise.io/to_kindle?action=open&asin=B01A6EQFZ8&location=2706)) --- **Tags** -- [[quotes]], [[redundancies]], [[organisational-values]], [[organisational-culture]], [[recessions]], [[downturns]], **Source** -- [[20250423082057 - B - Let My People Go Surfing]]