This Business News Story Was Uncovered By Us From: https://blog.eonetwork.org/2020/04/entrepreneurs-around-the-world-make-the-no-layoff-pledge/
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As the US stretches to nearly a full month of a pandemic-related economic shutdown, the number of people who filed for unemployment benefits has reached more than 26 million. Lines at food banks recall images captured during the Great Depression. Today’s pictures are in color and depict expanses of cars or casually dressed people donning masks.
Among these grim images and disheartening statistics, however, optimism shines through. Stories of organizations and innovators choosing to do the right thing in the hardest time provide hope.
In early April 2020, larger financial institutions including Morgan Stanley, Bank of America and Citigroup, vowed to hold off on making layoffs. Even smaller organizations are committing to keep staff on. Not surprisingly if you’re familiar with the Entrepreneurs’ Organization (EO), plenty of these organizations are led by EO members.
The Launch of a Global Initiative
In April 2020, Alex Yastrebenetsky and fellow leaders at his organization, InfoTrust, decided to launch a No Layoff Pledge which will last through 1 July 2020. A member of the EO Cincinnati chapter, Alex explains, “We stick by our employees, their families and the communities in which they live and work—in the good times and the tough times.”
No furloughs and no layoffs, through one of the greatest economic downturn in US history? Stop for a moment and consider the impact, starting with one employee. One employee who can afford rent, who can assume the financial burden and allow another parent to stay home with kids, who continues shopping at the local grocery store or even buying a daily coffee—from a safe distance—at the locally owned café. The effects amplify.
But Alex decided to take his idea even further, encouraging other … Read More
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