What is the value of sacrifice? At a time when everyone is battening down the hatches, is it smart for companies to keep employees, even if it hurts the bottom line? Steve Korman, CEO of Korman Communities, thinks so.
Korman has taken out ads in the Philadelphia Inquirer and New York Times, imploring companies to put the long-term security of his workers ahead of stock-prices. While he acknowledges that companies that must make cuts to say in business may have no choice, However, he asks companies to refrain from making cuts just to improve their stock price.
I have to say that this is a pretty courageous stance. I'm sure that it won't make him many friends among the Pfizers and FedExes of the world (Korman holds stock in these and a number of other Fortune 500 companies). However, I believe that it will have positive PR value for him and his company.
Do you think it's a good PR move? Take a look at the article and decide.
Area executive urges firms: Resist layoffs
By Diane Mastrull
Inquirer Staff Writer
It was during a morning workout on his treadmill early last week that Steven Korman felt inspired to make a public appeal to business leaders:Resist layoffs - even if that means smaller profit or a drop in stock prices. Read article
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