Layoffs

(Reuters) – In early summer, before layoffs began sweeping across Wall Street, billboard-sized photos of employees were plastered on the walls, pillars and elevator banks of Credit Suisse Group AG’s offices in the United States and abroad. The museum-quality prints, depicting workers from administrative assistants to senior executives, were emblazoned with motivational words like “Proactive” and “Partner.” By mid-July, however, the photos disappeared and the Swiss banking giant began laying off 2,000 employees. Security guards prevented employees from taking cell-phone pictures as the posters were stripped away, according to one employee who was present. “It sent an entirely wrong message,” … Read more