Saturday, November 28, 2009

A Poor Economy Not an Excuse for Lay-offs

In these tough times, when the singular focus on "creating shareholder value" at the expense of other stake holders in a company such as employees, customers, the nation and the enviornment, is destroying livelihoods and communities, some very pertinent words of wisdom from the founder of India's largest technology company, Infosys.
Layoffs are an inevitable aspect of the corporate world, especially in recession. But a poor economy should not be an excuse to cut jobs, Murthy said. "In today's economic downturn, the challenge lies in having the courage to set an example that responsible profitability is a realistic achievement, and by using data to demonstrate that it is possible to preserve jobs in an economic downturn while innovating to increase profits, productivity and efficiency," Infosys' Chief Mentor, N R Narayana Murthy, told reporters on the sidelines of an industry meet here today.
While we realize that not all jobs can be saved, in a dire situation where unemployment is touch 18%, and families are struggling to make ends meet, is it not the responsibility of our largest corporations to step up and lend a helping hand to their nation and fellow citizens? Is their responsibilty solely to their shareholders alone?

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