Economics
White-Collar Job Security Exposes Huge Gap With Service Industry
Committing $100 million to keep paying salaries, Booz Allen Hamilton joins Salesforce.com, Verizon and large banks in avoiding layoffs.
Photographer: Eric Thayer/Bloomberg
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Chief Executive Horacio Rozanski told employees Wednesday that Booz Allen Hamilton Inc. would set aside at least $100 million to guarantee their jobs over the next three months as the Covid-19 pandemic rocks the world economy.
Bank of America Corp., Citigroup Inc. and Morgan Stanley have also pledged to keep their workforces intact through the downturn. Salesforce.com CEO Mark Benioff is challenging all company CEOs to commit to 90 days without broad layoffs.