When laying off employees due to financial constraints, it can actually improve morale among remaining staff, as they see the founder is committed to the company's survival.

During a crisis, it's crucial to make tough decisions, such as cutting costs and increasing revenue, to ensure the survival of the company.

Charlie Kim, CEO of Next Jump, believes that just as we wouldn't lay off a child in hard times, we shouldn't consider layoffs in organizations either.

When faced with the decision to lay off employees, my co-founder George and I chose to uphold our core values instead and kept the entire team together, asking everyone to take deep cuts to weather the storm.

I had to make tough decisions, including closing a thousand underperforming stores and laying off employees, which was emotionally challenging for me.

Firing people is one of the hardest parts of running a company, and first-time founders often wait too long to make these decisions. You need to fire employees quickly when they're not working out, as it's better for both the company and the employee, despite the pain it causes.

We had to make tough decisions during the pandemic, including layoffs, but I aimed to do it with compassion and transparency.

The role of a CEO is incredibly challenging because you often have to make tough decisions without prior experience, and the pressure is immense as everyone depends on your success.

Coaching founders on how to handle difficult decisions, like letting someone go, involves helping them focus on the future and being resolute in their choices.