"A week later, Smith published an open letter calling for Yahoo to...merge with AOL. Redundancies could be eliminated, thousands of people could be fired and two former Internet superpowers would be downsized into a single and steady (if uninspiring) entity...'We trust the board and management will do the right thing for shareholders, even if this may mean accepting AOL as the surviving entity'"
I see where Smith is coming from, but that doesn't make his case any less unsettling. Do some economists really believe that the "right" thing to do is fire thousands of people?
Are a company's shareholders really more important than its employees?
I see where Smith is coming from, but that doesn't make his case any less unsettling. Do some economists really believe that the "right" thing to do is fire thousands of people?
Are a company's shareholders really more important than its employees?