Most of the persons who lost their jobs included civil servants who are middle class persons.
In order to ensure that the corporations save some money, most of these workers were laid off. This is because even though the companies are somehow at a loss, the firing of all those employees means that so many people are going to suffer.
There are several factors which explain the growing interest in corporate social responsibility.
The first factor is the new concerns and expectations of citizens, consumers, public authorities globalisation and industrial change.
Consumers expect goods and services to mirror socially and environmentally accountable business conduct at reasonable prices.
Shareholders also are seeking improved financial performance that interlinks social and environmental elements, as regards the opportunities they present (Banerjee 13).
The wanton disregard of the environment by a few companies when it comes to handling of industrial waste, the use of recyclable paper or sheer indifference when it comes to environmental protection is shocking.
As aforementioned, corporate social responsibility involves activities that give back to the community, or ensure fairness in the running of activities (Crowther and Rayman-Bacchu 69).
Business ethics is an upcoming issue mainly due to the sheer number of persons involved.
The actions of a few persons may seem safe on a small scale but on a large scale such actions could be devastating.