Key takeaways
• The trend of mass layoffs and downsizing is the result of companies strategising for a more digital future.
• Automation provides new opportunities for the workforce through the implementation of technology that works alongside people.
• IoT automations make workstreams more interconnected, potentially boosting worker productivity.
The reasons behind the labour force shortage
Downsizing is as much a cost-cutting decision as it is a strategic one. It often involves several factors beyond finances.