What a shame that Lehman Brothers employees found out the bankruptcy protection filing through the media. The New York Times earlier this week reported that, while Dick Fuld tried to the very last minute to save the company, he ended up issuing a news release at 12:30 on Monday morning announcing the filing.
Where is his PR team? Do they not have a seat at the table? Is the internal communication run by their HR department? Where is their senior HR person? Not at the table?
The Times reported, “Some Lehman employees wondered whether Fuld, who many inside the bank now view with deep anger, would address workers and explain what they could expect.”
In today’s age, how is it that employees still receive devastating news via the media? I thought the days of going to work and finding the doors padlocked or receiving a voicemail at work saying the company was bankrupt were over. Am I being naive to think they know better? I don’t get how a 158-year-old company doesn’t talk to 25,000 employees AT ALL.