No layoffs in 101 years: CEO of a company that has never laid off workers says businesses should cut costs elsewhere instead of firing employees

As Microsoft offers voluntary buyouts to around 60,000 employees, the CEO of a 101-year-old American company says businesses can look for ways to reduce expenses without laying off workers. Melanie Dulbecco, CEO of flavoured syrup maker Torani, says the company has never conducted layoffs in its 101-year history. Torani also retained its workforce during the COVID-19 pandemic, when its revenue fell 20% in April 2020, according to Dulbecco.

Speaking to Business Insider, Dulbecco said layoffs were a choice rather than an inevitable response to financial pressure. She acknowledged that businesses facing bankruptcy might have little alternative, while arguing that retaining employees can help companies recover from setbacks.