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Originally Posted by CateP
Not to get political or anything , but I think this is really sad. I work for a publically traded company and have seen colleagues laid off so the company can improve the bottom line for shareholders. These were colleagues with little kids to raise.
Three NH stores are closing. I feel for the employees and families who are affected.
Wondering...was there ever a time in our history when companies said "while we may not have been as profitable as we like this past year, we wanted to keep our employees working...it was the right thing to do."
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I too don't want to turn this into an OCCUPY WINNIPESAUKEE thread but companies are in business to turn a profit. Shareholders have the right to expect that the board of directors and mangement at a company they invest their money into to protect their investment. Investors have children to feed, or retirement income they expect to live on too.
I'm sure some companies do the "right thing", as you say. But it is more difficult for a public company to ignore the shareholders. If you want an example of a company (single owner) with a heart, there was factory in Mass. I believe that burned down several years ago. The owner kept all the employees on the payroll while the factory was being rebuilt. Perhaps someone can find the company I am talking about and post it.