A new study shows that announcing planned layoffs before they occur decreases productivity and morale. The study found that banks "over announce" layoffs. Other researchers say that such announcements cause employees to look elsewhere for work. The study comes after recent announcements from Bank of American, HSBC and Goldman Sachs about large numbers of planned layoffs.
See "Even Hints of Layoffs Decay Morale", Joe Light, The Wall Street Journal, September 19, 2011