Rapid Response: Danny Meyer on the wrenching decision to do layoffs
Masters of Scale
WaitWhat
4.6 • 4.4K Ratings
🗓️ 24 March 2020
⏱️ 33 minutes
🧾️ Download transcript
Summary
Last week, Danny Meyer laid off 2,000 people – that's 80 percent of staff at Union Square Hospitality Group, representing 20+ restaurants across the country. It was a heartbreaking decision made with full understanding of the impacts, short and long-term – or as much as can possibly be known in this volatile time. In this special episode, Danny returns to the show to share why and how he acted so quickly, the process he and his team used to make this decision, the impact of the layoff, and what comes next for his industry. Interviewed by editor Bob Safian.
Read a transcript of this episode: https://mastersofscale.com/danny-meyer-layoffs/
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Transcript
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| 0:00.0 | Hey everyone, it's Bob. |
| 0:02.0 | Today we're re-releasing a special episode of Rapid Response focused on layoffs. |
| 0:07.5 | This was the very first episode of Rapid Response recorded in March of 2020 with Shake Shack Founder |
| 0:13.4 | and Restaurant Tour Danny Meyer. |
| 0:15.4 | Danny's been on Rapid Response four more times since then, and he appeared previously with |
| 0:20.1 | Reed Hoffman on the classic Masters of Scale. |
| 0:23.0 | But Danny's insights in this interview, dealing with Lengoff, most of his team, are particularly |
| 0:28.8 | instructive in today's economic environment. |
| 0:32.5 | How do you balance a people first culture and mission with the financial imperative to |
| 0:37.4 | reduce costs? |
| 0:38.8 | How do you communicate the choices you've made? |
| 0:41.2 | And how do you protect your people as much as possible from the disruption you're creating? |
| 0:46.7 | Danny's raw emotion and candor are matched by a stupe strategic assessments and advice. |
| 0:53.2 | He since rebuilt his team back to pre-pandemic levels. |
| 0:57.1 | We've made some small trims to the original interview. |
| 0:59.9 | You can find the full uncut version in your show feed along with all of Danny's other |
| 1:04.1 | appearances. |
| 1:05.4 | Here we go. |
| 1:07.4 | We'll start the show in a moment. |
| 1:18.0 | Afterward from a premier brand partner, Capital One Business. |
| 1:24.4 | I have a background as an actor, so we're used to saying yes. |
| 1:27.7 | Can you fly a plane? |
... |
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