Last year, a major U.S. industrial giant made a profit of $600 million dollars. Not bad! As the end of the year approached, the company made an announcement that had been eagerly awaited by the big stock traders on Wall Street: the corporation was going to get rid of 10,000 of its employees. Why? Because by eliminating those 10,000 jobs, the company could increase its profits in the short-term. The announcement said nothing about what the decision would do to the 10,000 employees who got those pink slips. When the announcement came, a big cheer went up on the floor of the New York Stock Exchange and all of Wall Street celebrated as the company’s stock immediately jumped 9 points. Commenting on the event, one syndicated news analyst said that it reflected a growing attitude of people at the top in industry and finance that only “sissies” care about the workers. The word “tough” is venerated and it’s being used more and more to mask…
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