When there are job cuts, there are trade-offs. Cut highly paid, experienced workers, and your company may experience low morale, costly training, and a decrease in knowledge among staff. More money than expected might be spent trying to rally and train current employees. Yet one company which laid off 34,000 employees in 2006 was able to cut jobs without too much trade-off.

According to General Motors spokesman Dan Flores, "We were able to exit 34,410 employees without compromising the health and safety of the workforce, without affecting the quality of the product, and without affecting the production schedule of the company."

The cuts were done so successfully that GM plans on doing something similar this year. However, much planning went into the large 2006 layoffs. Along with accepting buyout or retirement plans, workers were leaving the company over a span of seven to eight months.

This year, GM plans to continue their layoffs through buyouts, hoping to complete another successful staff reduction.

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