Company A, a prominent cut-throat Wall Street firm, acquired Company B. Co A said, in the initial deal, that its intentions were to absorb all 600 of Co B’s employees.
Two years later, Co A’s price had fallen by half, so cost-cutting time. Co A’s first step was to offer a big promotion to one (formerly) Co B Golden Boy - this guy was someone everyone liked and admired. Part of accepting the promotion meant it would become his responsibility to lay off all 600 formerly Co B employees. Many were his lifelong friends, a tight knit group.
The golden boy accepted the promotion, along with a generous pay increase. He had the lay- off conversation with 600 friends and coworkers.
Three months later, Co A laid-off the Golden Boy.