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Prominent CEOs Promise That They Will Not Layoff Workers In 2020

Source | | Jack Kelly

On Thursday, it was reported that a record-setting 3.3 million people have filed for unemployment benefits the week ending March 21. With the potential threat of job losses looming, as a result of the coronavirus pandemic, CEOs are pledging to cease any plans of layoffs in 2020.  

Top-tier investment bank Morgan Stanley’s CEO James Gorman committed to holding onto his staff and will forgo issuing any layoffs within the company. Gorman reassured his employees, “I am sure some, if not many, of you are worried about your jobs. While long term we can’t be sure how this will play out, we want to commit to you that there will not be a reduction in force at Morgan Stanley in 2020.” Of course, to be fair and realistic, Gorman added, “Aside from a performance issue or a breach of the Code of Conduct, your jobs are secure.”

Banking giant Citigroup’s CEO Mike Corbat reassured the job security of his more than 200,000 workers. He pledged that the bank will temporarily suspend any layoffs.

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