CASPer Scenario For Discussion #24

[PrepMatch]

You are the CEO of an international tech company. You just realized that one of the company executives had been messing with the company's financial records, and the company is less profitable than you thought. You now have to lay off 20% of the employees.​

1. How would you go about announcing this news?
2. Do you think that laying them off is the ethical thing to do?
3. Please reflect on a time when you had to make a difficult decision.

Discuss Below !!

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[fluffycookie1231]

1. I would first like to gather more information on the situation. For one, I want to ensure that the company's financial situation is due to the executive. If possible, I would pull aside an executive and in a nonjudgmental tone present them with the accusation that is occurring and that I’m just trying to get more information on the situation. If the executive is messing with the financials, I would first ensure that the correct course of action is taken against this executive. If finances continue to be an issue, I would like to announce to each company in-person if possible the situation that is occurring and the chance of laying off 20% of the workers. I would also like to ensure that I can get the best unemployment benefits possible to these employees and present such.
2. I believe that I will try my best as the CEO to find another solution. I would first like to analyze the solution more and look into our profits to determine how much is loss to exact number. With this number, I will see if there are other options to cut budgets of the company (i.e. office supplies, company vacations, etc.). If there is a way I can avoid laying off employees or way to cut the amount of employees I will have to lay off, I will go this route. I understand that I have to do what is best for the company’s profit but I understand laying of employees can be hard financially and mentally for many of them, which is what I want to try to avoid.
3. I had to make a decision between choosing to go to an orchestra trip or visiting my elderly grandmother in China. I knew this trip will be once-in a life time and was in amsterdam which i have never been. But also I have not seen my grandmother in a while (I only see her once a year). I chose my grandmother because I ruled out the pros and cons and realized I do not get to see her often and I personally valued family time over a school trip.

(Please ignore grammar and spelling errors as this does not affect CASPER scoring)