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Out of the elevator they marched single file into the trading floor. Two held mobile file boxes. Two were security officials, but all held deadly intent. After identifying their targets, they firmly ushered them into an awaiting conference room and unceremoniously dismissed them.
"Mr. Dale, these are extraordinary times as you very well must know..."
As the recently released independent movie Margin Call opens, a majority of
the trading floor of this fictional circa-2008 trading firm are being let go.
No
one is given any notice. Their severance terms are quickly dictated to them
just before they are escorted to their office or work station to collect
their things and then escorted off the premises. No deference is given to complete projects in process or even to phone anyone as all
access to their phones and computers has already been terminated.
Sadly this is a fairly standard method that the corporate world
employs when they decide to end your employment. There is no real
respect for the person or appreciation for your work. There is no tangible loyalty or opportunity to discuss the situation. There is no room to negotiate or find a compromise situation.
The employer seeks a quick and clean break attempting to minimize any business "messiness." The employer effectively also seeks to avoid any possible ramifications of their decision. They look to surprise you and shut off
access to prevent any possible removal of information or customers as
the employee departs. I personally have experienced the online version of this unceremonious departure on more than
one occasion. But much like in Margin Call, there is no such thing as a
clean break without ramifications. It can take months or years to
recover from the swift dismissal of key personnel and what they brought
to the business.
In Margin Call, some of the work of a dismissed employee, Mr. Dale, (portrayed by Stanley Tucci) will initiate a spiraling of events over the next 24 hours that will shake the entire financial industry.
I highly recommend you see Margin Call. It has some great
acting from the likes of Kevin Spacey, Zachary Quinto, Demi Moore,
Stanley Tucci, Paul Bettany and Jeremy Irons. The low budget independent film by J.C. Chandor was shot over
just 17 days capturing well the swift and intense hypothetical portrayal of events one
night in New York City that led to the financial crisis of 2008.
Although I don't want to spoil the movie for you, I do want to share
a couple of exchanges from the powerful board room scene where the
billionaire chairman, played by Jeremy Irons, holds court after flying
in by helicopter in the middle of the night.
He expresses that there are three ways to make a living in this business...
1. Be first
2. Be smarter
3. Or cheat
"and I refuse to cheat." His advice translates to most businesses, although his resulting decisions might call into question whether he didn't ultimately cheat his friends, customers and the industry. He asserts that his entire job consists of being able to see into the future for his business so they can maneuver correctly.
At
some point in the meeting, long time executive Kevin Spacey objects to
his plans by saying "You're selling something that you know has no
value"
To which Jeremy Irons vehemently explains, "...so that we may survive!"
In
that moment it becomes clear what ultimately motivates a cutthroat
corporation, survival. Survival at all costs, regardless of the harm it
causes to employees, customers or innocent bystanders. Margin Call is a gripping film and gives great insight into the culture of the financial industry and its inexhaustible thirst for profit. The film also highlights one of the weak underpinnings of capitalism and our society in its lack of respect for the workers and their role. They aren't simply a commodity easily fired and replaced. There is no such thing as immediately erasing an individual and their contributions. Each employee has value and has given value to their employee. Finding a more optimal means for managing the transition is something corporations could invest more time and effort into.
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