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Yet CEO's do that sort of thing all the time. Citation, please? I mean, specifically, that they don't have qualms about doing it for trivial valuation reasons.
by CWuestefeld 11y ago
Yet CEO's do that sort of thing all the time.
Citation, please? I mean, specifically, that they don't have qualms about doing it for trivial valuation reasons. There's also an argument to be made for corporations being too reticent to fire deadwood employees. IMHO, that's just as much a problem.
Personal anecdote: I talk to our CEO pretty regularly - she's probably the only billionaire I'll ever meet. I know that she personally feels the responsibility for keeping the business viable, because it's the source of income for nearly 3,000 families.
Of course, my experience is just a single data point. But I don't see that it's any less valid than a viewpoint that, as far as I can see, is based on TV and movie drama.
- SeanDav 11y agoI have a few data points - I worked in the banking industry for many years and saw this sort of behaviour all the time. People, including entire teams were fired, not because the banks were losing money and had to cut jobs to survive, but simply because they wanted to increase profitability. If you want citations - there are vast masses out there - here is just one: http://www.wsj.com/articles/hsbc-unveils-overhaul-of-global-operations-1433824955 http://www.wsj.com/articles/hsbc-unveils-overhaul-of-global-...
- bweitzman 11y agoIf you have an opportunity to increase profitability and you don't take it you _are_ losing money, at least so long as the opportunity is sustainable.