Last week, the Federal Reserve announced a ½ point reduction in the interest rate, a move that, on the surface, seems beneficial for consumers with credit cards, mortgages, and other loans. However, Wall Street analysts have cautioned that this decision may signal further economic headwinds. A key indicator of these headwinds? Layoffs are sweeping across industries and are impacting employees at all levels, including senior executives.
In September alone, the news of widespread layoffs hit hard. Nike's CEO John Donahoe stepped down amid massive layoffs, and companies across sectors are reducing their workforces. United Healthcare, GM, Paramount Global, John Deere, and many others have all taken steps to shed jobs. Even the tech industry, a sector long associated with rapid growth and innovation, has seen significant cuts. According to TechCrunch, tech companies have announced significant reductions:
Qualcomm: 226 workers, following prior cuts of 1,250 employees
Cisco: 5,600 employees in reductions, on top of earlier cuts of 4,000
AWS: Cuts across Sales, Marketing, Global Services, and more
Microsoft: Over 2,500 jobs cut from the gaming division and Azure cloud business
Apple: Job cuts in its digital services group
Google: Significant cuts in its Cloud teams
Many startups, from Copia Global to Tally, have either shut down operations or conducted sweeping layoffs
These announcements may seem overwhelming, but they signal an essential reality for revenue leaders: an entirely new go-to-market (GTM) playbook is needed. Gone are the days of relying on pre-2023 strategies. CEOs and revenue teams must reassess and adjust their approach to survive and grow in this shifting market.
The New Imperative for CEOs and Revenue Leaders
For most CEOs, the next 30 days are critical. This is the window of time to check the "born on date" of their team’s GTM playbooks. Are they still relevant to today’s buyers? Or are they outdated, built on assumptions about a market that no longer exists?
Key steps CEOs should take during this period include:
Assess Buyer Plays: Buyer behavior has shifted, and your sales team’s approach to engaging with potential customers must reflect those changes. If your buyer plays are over 12 months old, they’re likely outdated.
Review Skills vs. Buyer Intelligence: Ensure your sales team’s skills match current buyer intelligence research. Today’s buyers are more informed, cautious, and cost-conscious. Is your team equipped to handle this new breed of customer?
Strategic Priorities for 2025: As companies finalize their GTM strategies, define strategic priorities, and approve sales kick-off themes and content, the glide path for 2025 sales performance will be locked in.
Once these GTM adjustments are set in motion, you’ll be in a much stronger position to navigate whatever economic headwinds may arise. Whether layoffs continue or the market stabilizes, having a responsive, data-driven, and buyer-centric GTM playbook is no longer optional — it’s essential for growth.
Preparing for 2025: Now or Never
The ink on your 2024 playbook may have barely dried, but now is the time to consider the future. Revenue leaders who successfully navigate this period will embrace change, recalibrate based on market conditions, and adopt a flexible, dynamic approach to GTM strategies.
Layoffs are not just a corporate rebalancing—they're a call for companies to rethink how they approach the market. How will you respond?
In the next 30 days, take action. Reassess, realign, and refocus. Your business's future depends on it.
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