We all understand that corporations solely care about revenue, profits and their shareholders. CEOs and top brass hyperfocus on their own financial interests. It’s hard to blame them, as this is how the game is played.
Lately, it seems that the chasm between the uber-wealthy and the average American family is the greatest we’ve seen since the bygone era of robber barons. The top 1% are thriving during the pandemic, while the rest of us are desperately trying to survive and eke out a meager living. More than ever before, a small group of powerful CEOs and executives have usurped the lion’s share of their company’s money by awarding themselves lavish salaries, stock options and bonuses.
The Covid-19 pandemic seems to have enhanced the chasm between the average worker and the upper echelon. This marks the beginning of the end of corporate loyalty. It’s obvious that we’ve been forced into a new era of free agency. The companies clearly don’t care about the workers and now the workers need to care about themselves.
Here’s a great example exemplifying the callous, nonchalant behavior of corporate executives toward employees. In late March, Covid-19 hit the United States hard. A then record-setting 3.28 million people filed for unemployment benefits for the week ending March 21. At the time, it was the highest level of claims in reported history. Those numbers seem quaint now, as more than 60 million Americans have filed for benefits since then. Due to the drastic health, economic and job-loss crisis, prominent CEOs—many from financial services and Wall Street—promised that they would not lay off workers through 2020. Six-plus months later, a number of these companies are now laying off employees.
Here are just some of the large corporations that have changed their minds about their pledge to hold