Source: Fortune
Summary
ABN Amro CEO Marguerite Bérard is cutting 5,200 jobs over the next four years to boost profits. To get staff on board, she’s having weekly lunches with employees to hear their views and build consensus. This approach is not unique, as other CEOs like Chris Tomasso of First Watch and Tim Cook of Apple also use mealtime to connect with employees. Bérard has adjusted to a new cultural norm, taking shorter lunches at her desk, and is committed to making progress despite the challenges ahead.
Our Reading
The strategy enters a familiar phase.
ABN Amro’s CEO is using a classic move to rally the troops: breaking bread with employees. It’s a tactic also employed by other CEOs, like Chris Tomasso and Tim Cook. But what’s really being served here is a side of cost-cutting and layoffs. The bank’s plan to reduce staff by 5,200 over four years is a bitter pill to swallow. Bérard’s weekly lunches may help build consensus, but they won’t fill the seats of those who are leaving.
Author: Evan Null
Leadership Lunches
CEOs like Bérard, Tomasso, and Cook are using mealtime to connect with employees and build consensus.
Cutting Costs
ABN Amro’s plan to reduce staff by 5,200 over four years is a drastic measure to boost profits.
Cultural Shift
Bérard’s adjustment to a new cultural norm, taking shorter lunches at her desk, is a small but significant change.
