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Managing Trust in the Workplace – The Perils of Breaking Promises to Employees

BIZCATALYST 360°
BY BIZCATALYST 360°

When Donald F. Hastings took over as CEO of the welding-supply manufacturer Lincoln Electric in July 1992, he anticipated a little time for celebration. But literally less than a half hour later, the new executive’s bubble burst: The European operations of his Cleveland-based company reported $7.5 million in losses, which, added to losses in Latin America and Japan, made for a devastating overall $12 million second-quarter plunge in assets. “I could imagine the headline in the local newspaper,” Hastings later recalled: “New CEO at Lincoln Electric Fumbles in First 24 Minutes on the Job.”

via Managing Trust in the Workplace – The perils of breaking promises to employees.

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BIZCATALYST 360°
BIZCATALYST 360°https://www.bizcatalyst360.com/about/
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WE ARE THE AWARD-WINNING PUBLISHING DIVISION OF 360° NATION —PRESENTING OUR LIFE, CULTURE, AND BIZ MULTIMEDIA DIGEST AS A HUB OF CREATIVE EXPRESSION AND PERSONAL GROWTH. WITH AN EMPHASIS ON ACTION, OUR VAST GLOBAL CONTRIBUTOR COMMUNITY EMPOWERS PEOPLE TO TRANSITION FROM KNOWING WHAT TO DO TO ACTUALLY DOING IT —ALL COMPLEMENTED BY SYNDICATION RELATIONSHIPS WITH A CHOICE GROUP OF EQUALLY INNOVATIVE MEDIA OUTLETS. TODAY AND EVERY DAY, WE SIMPLY DELIVER THE VERY BEST INSIGHTS, INTELLIGENCE, AND INSPIRATION AVAILABLE ANYWHERE —DOING IT OUR WAY BY PLACING OUR WRITERS AND OUR AUDIENCE AT THE FOREFRONT. IT'S MAGICAL. IT'S EVERGREEN. AND QUITE FRANKLY, IT'S JUST GOOD STUFF. PERIOD.

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