In the period leading up to 2001 Xilinx Inc., a US semiconductor manufacturer, experienced a growth surge and had hired over 1,000 employees. When the dot-com bubble burst in 2001 the company had to slash costs immediately. Rather than downsizing like many competitors had done, the company initiated a range of alternatives, including temporary plant shutdowns, voluntary retirement, sabbatical leave and pay cuts in consultation with employees. Xilinx got through the downturn without having to imp...
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