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  • Now That’s Cold

    Why is that executives, who get the big bucks and make all the decisions, never get fired during mass layoffs? They can take the amenities–lustily and with a sense of entitlement–yet they’re never held responsible when the tide turns.

    I guess we’re back to that place, where people don’t care about the  wisdom or the optics of Wall Street institutions firing all the lower-salaried employees. There’s one thing that gets me: the executives, who get the big bucks and make all the decisions, why is that they never get fired during mass layoffs.

    If they are the ones steering the company – operating the company, shouldn’t they be accountable even more than lesser-paid subordinates? One thing we all know – – the executives can take the amenities — lustily and with a sense of entitlement, yet they are never made to be responsible when the tide turns and the losses mount up. Why is that?

    The Board.

    Corporate boards are too cozy with the lead executives, so they refuse to look at what’s obvious, and we get more of the same: a leader, who is not leading, many are incapable of leading, and we go through these boom and bust cycles every twenty-four months – – it’s kind of what’s wrong with America as a whole: no one assumes blame for what they broke, and somehow – the person, who wasn’t even there when the thing got broke, has to pay the price.

    In his Huffington Post article Laid Off On Wall Street: Lowest-Paid Workers Losing Jobs, William Alden describes the callous way employees are being laid off, at the expense of the ineffectiveness and at times, malfeasance of executives.

    I have to say it – this as#-backwards. It hurts the economy, the infrastructure and the morale of a country trying to find its future, while in the present. This is exactly why I suggest to all Upstart: Business and Management for 20-40 Year Old Professionals members to start something (a business) – something, anything – don’t count on someone to consider you the way should consider yourself.

    Good Luck.

    Calvin Wilson
    Founder and CEO
    Upstart: Business and Management for 20-40 Year Old Professionals

    Filed Under: Career


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