The one time I lived through a 10% reduction, the results were not catastrophic, but still pretty bad. Morale took a huge hit. What's worse, is that it spooks

The one time I lived through a 10% reduction, the results were not catastrophic, but still pretty bad. Morale took a huge hit. What's worse, is that it spooks everyone. Resumes get updated, networks get activated, and you find a lot of people leaving after the layoff for new jobs.