Wednesday
Tis the Season For Giving Back: James Parrinello
I believe that companies need to be a little more aware of the repercussions of their actions. Last Christmas Goldman Sachs paid out hundreds of millions in bonuses as per usual. However, what wasn't usual, and what was appalling, was the fact that they paid out these hundreds of millions in bonuses after having the largest worldwide company layoff in Goldman Sachs History. If they were in such bad shape and had to layoff so many people then where did all the money for the bonuses come from? I think that even though they gave back the money they should have had the common sense and where with all to not have made the decision to pay out the bonuses in the first place. They probably could have kept two thirds of the staff they fired if they hadn't paid out the bonuses. Companies other than Goldman Sachs have made similar mistakes. But I think the moral of the story is that companies need to be a little more socially aware of the decisions that they make. I believe that until we are out of this crisis, maybe companies should cut back on the bonuses and try to keep more employees on staff in jobs.
Subscribe to:
Post Comments (Atom)
I agree with James here. The companies that were giving out the large bonuses and were spending exorbitant amounts of money planning parties and even traveling to receive bailout money via their private jets, claimed to have "not been using bailout money." Some companies were even ordered to return the money that they used to fund these parties. I feel it is extremely poor social responsibility to assume it is ethical to act with such behavior. From the trends we have seen, it is not surprising that these companies will continue to act out in such a way. My suggestion is that people boycott these companies if they still choose to act the same way this Christmas. We should let them know that their behavior is unnacceptable in a public and open way.
ReplyDeleteNicole