The Wall Street Journal, September 21, 2011, Wednesday

The Wall Street Journal

September 21, 2011, Wednesday

The Wall Street Journal (full article)

Even Hints of Layoffs Decay Morale

The extended timelines given by most banks for their cuts—HSBC Holdings PLC said its 25,000 cuts would finish in 2013—will make it more difficult for employees to move on and continue being productive, said Kevin Hallock, Joseph R. Rich '80 Professor of Economics and of HR Studies. "A lot of workers will sit around worrying if it will be them, and some workers will [preemptively] say they're going to leave," he said. Those who are able to find new jobs are the ones managers typically want to stick around, he added. A spokesperson for HSBC declined to comment.