The Container Store
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This retail chain did everything it could to cut costs, including using less expensive toilet paper throughout the company, to ensure that they didn't have to lay off a single employee. "If you put your employees first, they will truly take the best care of their customer," says Kip Tindell, CEO of The Container store.
Tindell talked to every one of his employees in the country during the company's monthly conference call to let them know that they would not be laid off. "When you don't have a tremendously nervous employee, they will perform better," says Tindell.
When assessing the company's budget, the executive team realized they didn't need two people working in employee travel services, so they moved one of those staffers back to a store position (that employee has stuck with the store, but they've since added staff to the travel department). "Even though our sales have bumped back, a lot of the expenses we were able to reduce have stayed off [the balance sheet]," says Tindel.
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