4 ms·
> legally bound to prioritize the interests of the shareholders over those of any employee I 100% agree with you on your broader point. That said, this is inco
by zrail 4y ago
> legally bound to prioritize the interests of the shareholders over those of any employee
I 100% agree with you on your broader point. That said, this is incorrect. There are no laws that stipulate a business must put shareholders above anything else. There _are_ laws that say employees get first dibs on accrued pay in the event of a bankruptcy, among other things that businesses must do on behalf of employees.
Ref: https://www.nytimes.com/roomfordebate/2015/04/16/what-are-corporations-obligations-to-shareholders/corporations-dont-have-to-maximize-profits https://www.nytimes.com/roomfordebate/2015/04/16/what-are-co...