Increasing profitability of a firm by layoffs is a grave sin, Pope says

On Wednesday during the General Audience at the Vatican Pope Francis strongly criticized the concept of the economic restructure of a company to increase its profitability through cutting jobs. He focused on the moral aspect of such strategy: “Whoever for the economic reasons closes negotiations with workers and lays them off commits a grave sin”, Pope Francis said. Pope repeated again that “depriving people of job” is a grave sin.

“Those who, for economic schemes or in order to make deals that are not fully transparent, close factories, shut down enterprises and take work away from people, that person commits a very grave sin,” he said.

Addressing tens of thousands of people in St Peter’s Square for his weekly audience, Francis strayed from his text after mentioning he was worried about how families might be affected by a labor dispute at TV network Sky Italia, making clear that he was concerned about the problem in many countries.

“Work gives us dignity. Those who are responsible for people, managers, are obliged to do everything so that every woman and every man can work and thus be able to walk with their heads held high, to look other people in the face with dignity,” the pope said.

(Reuters, pht)