Multiple reasons. Worried about the crisis, many executives no longer switch businesses and “stick” with their jobs. “Even though their position might be removed, most executives prefer banking on benefits” Christoph Kleinen, partner at Korn Ferry, the world’s largest executive recruiting firm, told the Handelsblatt daily. Besides, because of the crisis, many businesses started reorganizing their management structure and some carry out reforms they wouldn’t have dared before the crisis. Units merged and vacancies remained open. “Entire management units are being removed” said Dietmar Fink, Professor specialized in corporate advice at the Bonn-Rhine-Sieg institute of higher education. The last example is the first restructuring program of the German steel giant ThyssenKrupp (see our dispatch No. 090491) which provides for a merger of 5 units into 2, which should lead to 50 executive positions cut.
any executives no longer switch businesses and “stick” with their jobs. “Even though their position might be removed, most executives prefer banking on benefits” Christoph Kleinen, partner at Korn Ferry, the world’s largest executive recruiting firm, told the Handelsblatt daily.
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