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christine215's avatar

Johnson & Johnson's ready to lay off hundreds more, their CEO is the highest paid in "big Pharm"... how is this following their "credo"?

Asked by christine215 (3163points) October 8th, 2009

Here’s the J&J Credo
http://www.jnj.com/wps/wcm/connect/c7933f004f5563df9e22be1bb31559c7/our-credo.pdf?MOD=AJPERES

J&J has been consistently laying people off for years now, people are being expected to do the work of three people, everyone’s walking on eggs, waiting to see whos’ next to get pulled into a conference room with your boss and HR…

are they really holding to their credo?

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7 Answers

wundayatta's avatar

Several aspects of that credo can become contradictory. How do you be responsible to shareholders if you don’t maximize profits? How can you give employees a sense of job security, if you have to lay them off in order to cut costs, so as to maintain profitability? I’m sure there are many more ways in which that credo can put the company in impossible positions where they have to violate one or another aspects of it.

La_chica_gomela's avatar

Their “credo” became a joke a long time ago as far as I’m concerned.

SpatzieLover's avatar

What do you expect of corporations? They have shareholders to please.

CMaz's avatar

Sure they are. The credo of business. He who has the most money wins.

Everything else is just creative marketing.

tinyfaery's avatar

A big corp screwing their workers to pay their execs the big bucks? What? I’m so surprised.~

Garebo's avatar

I know when times gets tough company’s prep rally falls instantly hollow. It is paramount to keep their stock price high, so cutting cost makes wall street happy and the insiders can exercise their stock options at unbelievable profits, as well. It’s the disgusting side of capitalism. They know their days are numbered, so in my opinion, the chosen giants; such as J&J’s elite, are being compensated to capitulate to this new nationalized health care system.

snowberry's avatar

Big Pharm doesn’t follow a credo, except of course for what ever is good for the budget is good for all. It’s the way it’s always been. Don’t believe the hype; follow the money instead.

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