In the Black, But No Pink Slips: One company's experience with a no-layoffs policy.
The book has been positively reviewed in a number of articles I've seen. The author stated in one interview I read that he's aware that Lincoln Electric's system won't work for every type of business, but it will (and does) work in certain circumstances.
Unfortunately, business has a certain historical response to downturns, because of the age-old master/serf relationship in labour, and because of always taking the easy route that won't affect the upper level management, layoffs become the norm. It's not necessary.
This system probably wouldn't work in a culture where the top management rape and pillage the company for salaries and bonuses while the employees are laid off. It's partly the unpaid salaries of the laid-off workers that produce the money for those upper-level benefits, I think...
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