For Goldman Sachs, a public-relations disaster had real consequences this week — $2.15 billion consequences on Wednesday. That’s the market value stripped away from Goldman’s stock price when shares dropped 3.4% after Greg Smith’s farewell to the company in The New York Times Op-Ed section. (The Times paid Smith the standard $150 rate for the unsolicited letter.)
Today on Sound Off, Sterling’s semi-regular podcast series, Kevin Pedraja and Lisa Hawes discuss the media firestorm ignited by this and a spate of recent public resignations. What are the dangers posed to companies when employees use traditional and now, social, media to air their grievances? What lessons can be learned? All this and more in eight minutes.