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In reporting this story we noticed a disturbing pandemic trend: Giant companies vowed not to hold layoffs during coronavirus, then did it anyway. /1 https://www.washingtonpost.com/graphics/2020/business/50-biggest-companies-coronavirus-layoffs/?itid=hp-top-table-main
Cisco CEO @ChuckRobbins told Bloomberg in spring “it’s silly for those of us who have the financial wherewithal to absorb this, for us to add to the problem." https://is.gd/PeEv8W
By fall Cisco cut 8k workers, per 2 people briefed on the plan - its largest layoff in years. /2
By fall Cisco cut 8k workers, per 2 people briefed on the plan - its largest layoff in years. /2
Salesforce CEO @Benioff in March pledged “not to conduct any significant lay offs over the next 90 days" and suggested other CEOs should take a “90 day pledge"
https://twitter.com/Benioff/status/1242893233715163137
5 months later he cut 1k workers one day after posting highest revenue in company history /3
https://twitter.com/Benioff/status/1242893233715163137
5 months later he cut 1k workers one day after posting highest revenue in company history /3
Philip Morris issued an April press release promising to forgo layoffs during the pandemic to help support the “job security and peace of mind” of workers: https://philipmorrisinternational.gcs-web.com/static-files/355b4f24-ee6b-441e-932f-eddb44ead3e0
In June the company said in a regulatory filing it would cut ~440 workers in NY and Switzerland /4
In June the company said in a regulatory filing it would cut ~440 workers in NY and Switzerland /4
PayPal CEO @Dan_Schulman told CNBC in March he wouldn't hold layoffs due to covid-19, saying “This is the right thing to step up, to make sure they know that we’ve got their back.” https://www.cnbc.com/2020/03/31/paypal-ceo-dan-schulman-no-layoffs-of-employees-due-to-coronavirus.html
Since then company laid off ~100 workers in Omaha and its San Jose HQ /5
Since then company laid off ~100 workers in Omaha and its San Jose HQ /5
