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So what happens if a company goes bankrupt? It's a big catastrophe to have to fire 20 000 people, but if that means keeping 110 000 people employed, the decisi

So what happens if a company goes bankrupt? It's a big catastrophe to have to fire 20 000 people, but if that means keeping 110 000 people employed, the decision would seem straightforward to me. How do companies avoid bankruptcy in this type of situation? BTW - My parents and grandparents lived through communism, with not only guaranteed, but enforced full employment, but they would argue that it was not a nicer way to live.

lmm 7y ago
> So what happens if a company goes bankrupt? > It's a big catastrophe to have to fire 20 000 people, but if that means keeping 110 000 people employed, the decision would seem straightforward to me. The government has a history of intervening to prevent that kind of big bankruptcy. But ultimately, if the company does go down it goes down together - better that than for those at the top to keep paying themselves while claiming they can't afford to pay others. > BTW - My parents and grandparents lived through communism, with not only guaranteed, but enforced full employment, but they would argue that it was not a nicer way to live. Perhaps both extremes are bad. France does well in polls of life satisfaction and the like, and those results align with my experience. Shrug.