Fortune 500 Layoffs 1

Running Head: Fortune 500 Layoffs

An Unfortunate Layoff: A Content Analysis of Layoff Communication

In the Wall Street Journal and New York Times

Daniel Almanza, Julie Boyd, Lindsey Michalski, & Kate Sies

Illinois State University

May 4, 2009

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Abstract

The purpose of this study is to develop a larger scale study that will examine the accounts and

justifications communicated by organizations experiencing layoff situations. A content analysis

of the New York Times and the Wall Street Journal articles was conducted to assess the source

and framing of the layoff communication, as well as the risk for future layoffs. Coombs’ (1998)

work on strategic communication and crises situations and Benoit’s (1995) research on image

restoration theory will provide the focus for this research. This study presents initial results and

suggestions for future research.

Fortune 500 Layoffs 3

An Unfortunate Layoff: A Content Analysis of Layoff Communication

In the Wall Street Journal and New York Times

In 2008, much of the industrialized world entered into a deep recession (Mihm, 2008).

The complexity of the current crisis results from high oil prices, high food prices and the

collapse of a substantial housing bubble centered in the United States, which sparked an

interrelated and ongoing financial crisis (Koeppel, 2008). Around the world, many large and well

established investment and commercial banks suffered massive losses and even faced

bankruptcy. These current crises have led to increased unemployment, and other signs of

contemporary economic downturns in major economies of the world.

The International Labor Organization (2009) predicted that at least 20 million jobs will

have been lost by the end of 2009 due to the crisis — mostly in construction, real estate, financial

services, and the auto sector — bringing world unemployment above 200 million for the first

time. The number of unemployed people worldwide could increase by more than 50 million in

2009, as the global recession intensifies. In an economic environment where insurance

companies, most notably AIG, are losing hundreds of thousands of dollars a minute, significant

corporate loss and other downsizing tactics (layoffs, plant closings, post-poning projects, cutting

costs, etc.) are affecting the reputation and legitimate operations of multi-million dollar

corporations.

Organizations need to monitor and manage the images stakeholders have of them.

Strategic communication is a process that facilitates the formation and execution of appropriate

messages to targeted audiences. Organizations must utilize strategic communication processes in

order to convey desired images to various publics. Therefore, the purpose for this current

research study is to focus on the accounts and justifications provided by Fortune 500

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organizations communicating layoff situations. The study simultaneously examines the extent of

variance among industries undergoing this crisis (i.e., automotive, retail, industrial, financial).

Benoit’s (1995) theory of image restoration and Coombs’ (1998) examination of accounts and

justifications will serve as guiding theoretical frameworks for the current study.

Review of Relevant Literature

A growing procession of crisis literature has begun to develop around Benoit’s (1995)

theory of image restoration – the use of communication strategies to redress the wrongdoing of a

crisis (Benoit & Brinson, 1994; Benoit, 1995; Brinson & Benoit, 1996). Crises are events that

threaten to damage the reputation of an organization (Barton, 1993). Benoit’s image restoration

theory offered an idea to examine efforts to rebuild an organization’s crisis-damaged reputation.

The core of image restoration theory is a set of image restoration strategies, which can be used to

rebuild the damage a crisis inflicts on an organization’s reputation. Benoit’s typology identified

five image restoration strategies: (a) denial, (b) evasion of responsibility, (c) reducing the

offensiveness of the act, (d) corrective action, and (e) mortification.

Denial argues or suggests that the organization did not do anything wrong – the

organization is not involved in a crisis. Evasion of responsibility indicates that the organization

has limited responsibility for the crisis (e.g., it was accidental). Reducing the offensiveness of the

act tries to get publics to see the crisis or organization as less threatening. Corrective action

attempts to repair current damage, prevent a repeat of the crisis, or both. Mortification has the

organization take responsibility for the crisis and issue an apology. An image restoration analysis

begins by identifying the words and actions the organization employed to defend its image.

These words and actions are then categorized according to Benoit’s image restoration typology.

The critic then decides if the image restoration strategies were appropriate for the crisis and

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stakeholders and tries to locate evidence that indicates the success or failure of the image

restoration effort (Benoit, 1995).

Image restoration typologies are derived in part from strategies used by the organization.

These strategies attempt to exempt failure from the organization and emphasize the positive

meaning of a crisis. Accounts within this level include excuses, justifications, and apologies. An

excuse attempts to negate responsibility for an event (Scott & Lyman, 1968). An excuse can

manifest itself in three ways, including a denial of intention, violation, and agency. Denial of

intention is utilized when an organization’s crisis account includes one of the following

suggestions: consequences of the organization’s prior actions to the crisis were unforeseeable,

that the organization or high management-level executives were unaware of their actions and

decision effects, or that the effects of the crisis were accidental or were a result of a mistake

(Tedeschi & Reiss, 1981).

Denial of violation occurs when an organization states that they could not control and/or

could not be expected to control the crisis in question (Tedeschi & Riess, 1981). For example, an

organization states that they are not responsible for what happened. This is an ideal strategy for

crisis situations in which organizations are truly not responsible for what occurred. For instance,

who is to blame for our economic crisis? Many individuals are blaming the government and

corporate America. In turn, this economic crisis produces the layoff crisis. Publics are blaming

the organizations for current unemployment rates. Organizations, however, must remember that

their image is based on public perceptions, not what is always true.

Additionally, an organization commits a denial of agency excuse when they state that

they were not involved in any behaviors or did not produce decisions that could generate the

crisis– it must have been someone or something else (Tedeschi & Riess, 1981). Other excuses

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include justifications, in which an organization accepts responsibility but seeks to minimize

negative consequences, and apologies, in which an organization communicates remorse for the

situation. In turn, organizations are admitting guilt and are therefore, requesting punishment.

Usually, an apology is supplemented with another image restoration strategy, which is used to

“cushion the blow.” It is imperative for organizations not only to communicate an account during

a crisis, but also to implement the appropriate account in order for the organization’s reputation

to improve from its current situation.

Image restoration strategies are a form of account, or an explanation of the organization’s

behavior (Benoit, 1995 & Coombs, 1995). An organization hopes that stakeholders will accept or

honor their crisis accounts. Coombs (2006) explains strategic response strategies that

simultaneously offer accounts while protecting the organizational reputation. His execution of

this technique facilitates a conceptual link between image restoration strategies, which are used

to manage reputation and image, and the accounts being communicated.

A variety of researchers have examined what organizations say and do to restore images

after crises (Allen & Callouet, 1994; Hearit, 1994, 1995; Hobbs, 1995; Marcus & Goodman,

1991). As a key contributor to this research, Coombs (1998) grouped crisis-response strategies

into seven categories and placed them on a defensive-accommodative continuum. The responses

on the defensive end of the continuum seek to protect the organization while accommodative

responses seek to address victim concerns. Arranged from defensive to accommodative, the

seven categories are as follows: (a) attack the accuser involves aggressively denying claims of a

crisis and punishment of the accuser; (b) denial claims there is no crisis or that the organization

is uninvolved in the crisis; (c) excuse admits there is a crisis but minimizes organizational

responsibility for the crisis; (d) justification admits a crisis exists but downplays its severity; (e)

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ingratiation tries to create positive impressions of the organization by reminding stakeholders of

past good works, associating the organization with positive qualities, or both; (f) corrective

action attempts to repair crisis damage, prevent a repeat of the crisis, or both; and (g) full

apology and mortification takes responsibility for the crisis (Coombs, 1998, 2006).

Coombs (1998, 2006) suggests that crisis responsibility is a significant part of the crisis

situation. Crisis responsibility is conceptualized as “how much stakeholders attribute the cause of

the crisis to the organization and is a function of the crisis type and severity of the damage” (p.

243). Stakeholders attribute different amounts of crisis responsibility to organizations depending

on perceptions of the crisis. For instance, crisis types that reflect the organization as a victim will

facilitate stakeholders to perceive the organizational crisis responsibility as lower than

organizations that knowingly placed individuals at risk. Coombs (1998, 2006) found that there

are additional intensifiers that act to mediate the effects of a crisis situation.

The factors that are highlighted above present strategies allowing organizations to

respond with accounts that protect organizational reputation. Additionally, there are factors that

enhance the perceived adequacy of explanations for bad news. Not only does the account have to

justify the means, it also has to be perceived by stakeholders as an adequate response to the crisis

situation. Public relations practitioners that represent the company in a crisis situation have to

empathize with stakeholders in order to perceive the situation from a stakeholder’s perspective.

By achieving this crucial step, practitioners will be able to form messages and accounts that

stakeholders will identify with and perceive as adequate.

Shapiro, Buttner, and Barry’s (1994) examined the competency of key publics to this

negative information. Specifically, Shapiro et al. (1994) identified the extent to which managers

who deliver unfavorable news show sensitivity. This is relevant to current research because

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researchers are looking to see if and how managers are relaying this type of sensitive information

to external publics. Also, this study examined “how adequacy judgments are influenced by

outcome severity or the ‘badness’ of the news being explained” (p. 348). Additionally, this study

is important to current research because the focus is on layoffs, which is unfortunate for

employees.

Shapiro et al. (1994) found that the greater perceived severity of the crisis, the more

difficult it is to offer an adequate explanation. This suggests that organizations offering any kind

of account that has high severity (i.e., layoff messages) will have a more difficult time getting

stakeholders to judge that explanation as adequate. Organizations desire that their messages are

perceived as adequate, because companies need stakeholders to perceive them as legitimate in

order to survive, especially in a recessional economy. If organizations are communicating

inadequate messages, there is an increased chance of threat to organizational survival. This

suggests that organizations within the Fortune 500, who are reporting layoffs, will be

predisposed to this phenomenon and will have a more difficult time obtaining stakeholder

adequacy from any explanation provided.

Reporting layoffs in the proper fashion is crucial in society’s current economic state

(Amme, 2008). The negatively communicated action of laying-off workers predisposes

companies to damaged images. By eliminating workers, companies are able to survive; however,

this action has harmful effects which can hinder organizational survival. Allen and Caillouet

(1994) lay the foundation of the conceptual use of image restoration. The goal of their research

was to “provide a detailed typology of naturally occurring message strategies that potentially

shape stakeholder attitudes” (p. 44).

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Similarly, the goal of this current study is to examine layoff mentions in the Wall Street

Journal and New York Times that incorporate account typologies used by Fortune 500

organizations communicating a layoff situation. This method is practical, because “image

restoration strategies are embedded within the accounts individuals offer in answer to explicit or

implicit questions emerging from an audience’s normative expectations” (Allen & Caillouet,

1994, p. 44). After each account is analyzed, current research can begin to categorize how

companies in certain industries offer accounts to “make their actions understandable and

acceptable to others” (p. 47).

The current research seeks to examine Benoit’s (1995) image restoration strategies that

are used by organizations accounting for layoff situations. This research will primarily address

the accounts found by analyzing content of the news media. Thus, this research will address the

following questions:

RQ1: What image restoration strategies or semantics embedded in accounts are currently

used for communicating layoff situations?

RQ2: How are these strategies communicated through a news medium versus a business

news publication? (New York Times and Wall Street Journal news articles)

Method

This study examines how organizations communicated layoff situations between

October 1, 2008 and March 1, 2009. The articles gathered were analyzed using a functional

approach of Benoit’s (1995) restoration management theory to see how company’s images were

being formed during this time of crises as the economy took a turn for the worst.

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Sample

The Fortune 500 companies were chosen to see what strategies companies were using

during a time of economic crisis as companies were forced to begin laying off percentages of

their workforce. After an initial search of layoff situations on corporate websites provided a

relatively small number of the Fortune 500 companies that are currently experiencing layoffs, the

research team decided to narrow the theoretical focus to the top 100 of these companies. This

sample was chosen for multiple reasons. Primarily, these top 100 companies included many

organizations that were significantly affected by the global economic crisis. This was also an

appropriate sample to choose due to the significant number of financial and retail institutions in

the top 100 companies that have received national media attention (i.e., AIG, Morgan Stanley,

Wal-Mart) since October 2008. The research team reported that a little over half (N = 52) of the

Fortune 100 companies communicated layoffs during the five month period.

The New York Times and the Wall Street Journal were chosen as the medium for this

exploratory project. These top tier newspapers were chosen due to high circulation: the New York

Times with over 2 million weekday circulation (www.newyorktimes.com) and the Wall Street

Journal with nearly 1 million weekday circulation and an additional 1.5 million Sunday edition

(www.wallstreetjournal.com). Furthermore, these two national news publications were chosen to

compare the images of each company using the Wall Street Journal (a business-focused

publication) and the non-business national publication the New York Times. The articles found

in each publication focusing on the Fortune 100 Companies were coded from October 1, 2008

through March 1, 2009. The articles were all gathered using the LexisNexis academic database.

During the media audit, the search terms used included “layoff” along with the name of the

organization. One of the more significant limitations to this study includes a lack of additional

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search terms used to find layoff communication in the two primary news publications. There

were a total of 37 articles coded from the New York Times and 48 articles coded from the Wall

Street Journal. This totaled 85 articles gathered and coded.

Coding Procedures

The articles from each newspaper were coded using a coding sheet created by a team

member. The coding sheet was created to capture five broad functions including statements from

the organization and by whom, accounts and justifications, number of workers being laid off,

mention of future layoffs and the company’s industry. These functions were chosen as a result of

strategies companies tend to use in order to manage their images (i.e., using certain terminology,

framing numbers and statistics, and the context of statements or accounts released to the media).

Furthermore, industries were also focused on as a result of being able to compare industry.

Below is a detailed description of each category:

Quote or Statement from company or organization. Each article was coded first focusing

on what statements and quotes were given out to the media. Specifically, within each article,

coders looked for a spokesperson, the CEO, no statement or quote released and last other

(another person for the organization releasing a statement). This information of who released the

information of the initial layoff, (CEO or spokesperson) would result in the organization trying

to control what information is released to the public.

Accounts used. Accounts are one of many communicative strategies organizations can

use to manage images and stakeholder perceptions of account adequacy and organizational

legitimacy. For the purposes of this study, the accounts embedded in the news articles were

categorized into one of two primary accounts: excuses and justifications.

Terminology. Coders also examined the articles for how the organization conceptualized

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layoffs. The research team sought to create a comprehensive list of terms synonymous with a

layoff situation, including closing plants, postponing projects, and cutting costs. “Other” and “no

account” categories were provided in case additional terminology was used. Another limitation

to our study, and a proposed suggestion for future research would include creating a much more

detailed and comprehensive list of terms synonymous with layoff situations.

Presentations of Number. Organizations are also very careful on presenting the number

of people being layoff. For this reason, this category included percentage (of employees being

laid off) verses actual numbers. Companies sometimes would not give the media any actual

estimates, and articles would simply report layoffs.

Future Layoffs. In managing an organization’s image, certain companies are forthcoming

with future events. Therefore, this category focused on any mention of future layoffs that the

company foresaw. During this economy shift, many companies knew that layoffs were to come

in the near future as the new fiscal year would begin.

Industry. In the sample of the Fortune 100 companies, several companies ranged from

financial institutions, auto industry and retail giants. This allowed us to see what industries were

being hit the hardest by the economy. All other companies that did not fall into these categories

were coded under other.

See Appendix A for a sample of the coding sheet used by the researchers during this

study.

Discussion of Results

Statement from company

Less than 5% of organizations communicated their layoff situation using a spokesperson.

Twelve percent of organizations accompanied the account with the mention of a C.E.O. within

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the Wall Street Journal. Articles found in the New York Times, five percent of organizations

released statement that accompanied the account with the mention of a C.E.O.

Terminology

When organizations communicated their layoff situation through the Wall Street Journal,

37% used the term “laying off,” 2% used the term “closing plant,” 2% used the term “postponing

project,” and 26% used the term “cutting costs” to define their crisis situation. Within the articles

found in the New York Times, 21% used the term “laying off,” 3% used the term “closing plant,”

0% used the term “postponing project,” and 16% used the term “cutting costs” to define their

crisis situation.

Presentation of numbers

When organizations presented the amount of layoffs within the Wall Street Journal, 21%

of organizations communicated this information through percentages, while 37% of

organizations communicated this information through numbers (i.e., 2,000 of employees were

laid off). When looking at the articles from the New York Times, 16% of organizations

communicated this information through percentages, while 12% of organizations communicated

this information through numbers.

Future Layoffs

Within the account information, 12% of the organizations communicated in the Wall

Street Journal and the New York Times that there will be future layoffs within the organization.

The statistics and results could arise in large part due to researcher bias. As discussed earlier, the

only search term used by the team was “layoff.” The results seem to be skewed significantly to

this term.

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Interpretation of Results

Results suggests that the significant difference between the WSJ and the NYT is

predominate in the following categories: account communicated by C.E.O. of organization, the

terms “laying off” and “cutting costs” when communicating the crisis situation, and the use of

the actual numbers as expressions of the employees effected by the crisis situation (i.e. 2,000

workforce vs. 20% of workforce). As stated previously, the WSJ is a business source. Therefore,

the key aspects stakeholders want to know (the situation, the account, and the effect of the crisis

situation) is business oriented. It is not surprising, then, to see that this information is found more

in the WSJ than in the NYT. By matching the information about the crisis situation in a medium

that is known for communicating business information, stakeholders are able to find this business

information in the WSJ, and therefore, know the key aspects of the crisis situation. By doing this,

organizations are moving in the right direction to restore their image, either at or above the

former image before the crisis. This is a key strategy for organizations to utilize, because

stakeholders need to be able to find this information, and also organizations need to have an

outlet to try to restore their image.

Limitations and Future Research

This study has many limitations common to content analysis studies. A fine balance must

exist between providing exhaustive categories on the coding sheet, while providing a simplistic

tool that coders must use to analyze the content of the articles chosen for this study. Due to the

organizational crisis (i.e., layoff) focus, it is inherently possible that the coding sheet created did

not include all conceptualizations of a layoff situation. The first significant limitation to this

study is the phrasing provided in the coding sheet. Researchers made valid attempts to include an

exhaustive list of words and phrases (each used as units of analysis) synonymous with layoffs in

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an effort to cover a wide variety of layoff communication. The coding sheet included a generic

“layoff” category, but other options in that category were excuses provided by the organization

for the layoff (i.e., closing plant, postponing projects, cutting costs). An “other” option was

provided in hopes of categorizing additional layoff synonyms not included in the coding sheet. In

future research, studies could focus on additional layoff conceptualizations, including

downsizing and outsourcing. To continue with this study, the team must create a more

comprehensive coding sheet in attempts to cover (and measure for) each of the terms

organizations use to indicate layoff situations. It is useful to remind the reader that an initial

search of the Fortune 500 corporate websites reported very little layoff communications. This is

a natural result of the reluctance of companies (especially the industrial, retail, and financial

giants in the Fortune 500) to proactively communicate negative situations. Research on the

Fortune 500 corporate websites suggested that many organizations do not openly communicate

financial conflicts and internal layoffs through this medium, but instead provide relevant

information to the Wall Street Journal, the New York Times, and other national news

publications. In the future, it would be interesting to examine the phrasing and accounts given on

corporate websites to see how organization-centered communication differs from third-party

centered communication provided by news media.

Another limitation to the study was the measurement of intercoder reliability. Due to the

time limitations of this project, intercoder reliability was measured between two team members.

Future research in this area would include recruiting and training coders to code for layoff

communication in all Fortune 500 companies. Coding reliability leads to an additional limitation,

namely that of the sample size chosen for the study. The time limitations did not grant the team

appropriate time to code for layoffs communicated by all Fortune 500 companies. Rather, a

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sample was chosen to measure layoffs provided in the top 100 of those companies, including

multiple industrial, retail, and financial giants. As referenced earlier, the purpose behind using

only a sample of the Fortune 500 companies was based on the heavy concentration of industry

giants within the Fortune 100 and the most significant layoff “headlines” during the time period

chosen for the study.

A final limitation observed during preliminary research regarded the antecedents to

company layoffs. While organizations across multiple industries are currently experiencing

severe economic crises, many organizations have considered company mergers a sufficient way

to cut costs and increase profitability and share prices. Auto industry giants General Motors and

Chrysler are two of many Fortune 500 companies currently considering merging operations to

increase profits while downsizing work forces. To more thoroughly assess the communication of

layoffs by Fortune 500 companies, the causes of the layoff should either be included in the

coding sheet or the study should focus solely on layoffs communicated by individual, and not

merging, companies.

Conclusion

To summarize, organizations can draw from a wide array of crisis responses to

strategically communicate “bad news” (i.e., organizational layoffs) to relevant stakeholders. This

information is relevant to the public relations discipline and crisis management research because

it allows crisis managers to develop clearer guidelines for the selection and implementation of

appropriate crisis response strategies. Current researchers are hopeful that significant findings in

this area can be applied to proactively managing organizational impressions, rather than a simple

reaction to organizational crises. By proactively developing and communicating strategic

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messages to relevant stakeholders, organizations can better manage important impressions in

difficult economic times.

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