Chicago, Illinois
“Thank you for coming on such short notice. I’m sure you’re all wondering what this meeting is about, especially since we just met on Friday.” David Weisman paced across the front of the large board room, running his fingers through his dark thinning hair. “First, let me say that here at the Weisman and Cohen Group, we couldn’t ask for a better team. We appreciate all the long hours and work you’ve put in, as well as your commitment to our clients. With that said, it makes it even harder to tell you about the upcoming changes. As you know, the investment industry has taken a few hits over the last couple of years. After numerous meetings and very careful consideration, we have determined that cutbacks are needed. This afternoon, we’ll meet with each of you, individually, to discuss our plans for the future and the role we see you playing.”
William Cohen, senior partner, looked on as managers and staff exchanged confused looks, and murmurs floated around the room. He, too, had been surprised when David suggested cutbacks, and decided then that he needed to be more involved in the day-to-day operations. On paper, their company seemed solid. Apparently, that wasn’t the case since David recommended cuts.
“Again, thank you for your hard work and commitment to the firm.” Everyone stood and exited the room.
William followed David back to his office and shut the door. “Dave, I’m not comfortable with letting people go at this point. I need more information about why you feel we have to make these changes.”
“Bill, years ago we agreed I would oversee employees and managers. So I would think after thirty years you would trust my judgment,” David said, with a dangerous calm in his eyes. “I have given my all to this company. And yes, I’m just as disappointed, but so that we don’t get any deeper into debt, I feel we need to make these cuts.”
William stood in front of David’s desk with his hands in his pockets. “I definitely respect your opinion and your recommendations. All I’m saying is I don’t want to be too hasty in letting people go. Even if it’s temporary, I don’t like the idea of disrupting these folks’ lives if we don’t have to. Besides, if we let them go, how will all of the accounts be covered?” David stood and walked over to his file cabinet. “I have that all worked out. Just until we get back on our feet, I have divided up the work load among our investment managers.”
David handed the folder to his partner, and William leafed through the thin file. “At first glance this looks fine, but I’m concerned about piling more work on Dallas,” he said, removing a sheet from the file. “She already has a full load, and with her accident, I’m just not comfortable adding more to her plate.”
“Yeah, that did cross my mind. But knowing Dallas, I’m sure she’ll be able to handle it. Besides, she knows she’s in line to make partner, so this is a good opportunity for her to show us her commitment.”
William dropped the file on David’s desk. “She should’ve made partner years ago. We both know she’s more committed to this firm than anyone. Why keep stalling? She has proven her abilities over and over again. I have no doubt she’d make an amazing partner.”
“Well, I disagree.” A shadow of irritation crossed David’s face. “I think she still has some growing to do. Once I see how well she handles these additional accounts, then I’ll be able to determine if I’m ready to cast my vote.”
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