In these unusual and trying time of pandemic (2020 -2021), many businesses and companies suffered difficulties and closures bankruptcies while others struggled to survive because lockdowns and restrictive governmental regulations to curb the virus of Covid 19. Despite economical and financial assistance from the government, some businesses opted to reduce the size of the work forces significantly hoping to cut costs and to improve the bottom line. This action might raise investor confidence and, consequently, the stock price goes up. Explain your impression of the decision of these companies? Was there any kind of ethical lapse in laying off the employees; or was it a practical decision necessary for the survival of the company?
In these unusual and trying time of pandemic (2020 -2021), many businesses and companies suffered difficulties and closures bankruptcies while others struggled to survive because lockdowns and restrictive governmental regulations to curb the virus of Covid 19. Despite economical and financial assistance from the government, some businesses opted to reduce the size of the work forces significantly hoping to cut costs and to improve the bottom line. This action might raise investor confidence and, consequently, the stock price goes up. Explain your impression of the decision of these companies? Was there any kind of ethical lapse in laying off the employees; or was it a practical decision necessary for the survival of the company?
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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In these unusual and trying time of pandemic (2020 -2021), many businesses and companies suffered difficulties and closures bankruptcies while others struggled to survive because lockdowns and restrictive governmental regulations to curb the virus of Covid 19. Despite economical and financial assistance from the government, some businesses opted to reduce the size of the work forces significantly hoping to cut costs and to improve the bottom line. This action might raise investor confidence and, consequently, the stock price goes up.
Explain your impression of the decision of these companies? Was there any kind of ethical lapse in laying off the employees; or was it a practical decision necessary for the survival of the company?
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