How important employees are let go in the USA
Oct 01, 2009 06:35 AM
The firing of the top legal official of Bank of America (one of the largest
Banks in the USA) is reported as follows:
Mr. Mayopoulos was let go the day the bank informed its board that Merrill
was bleeding money at an unexpected pace. He was immediately escorted from
the building without being permitted to return to his office, the people
with knowledge of situation said.
There have been some comments about how some employees in important
positions are let go in TS. The above gives some flavor of how employees are
fired in the USA. The classic case was when Howard Hughes fired his Chief
Operating Officer on the phone while at lunch break and the locks of the
office were changed when he went back and it took ten months and legal
intervention to retrieve his personal belongings. I have also seen an
incident in my city where an important official was called in to his office
and let go immediately.
When you occupy an important or sensitive position in any organization, one
has to be very cautious and should not be surprised if let go without any
notice. It applies all organizations.
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