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Article: Employees Pay the Price in Merging Firms' Quest for Profit.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- March 23, 2001
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Janet Kidd Stewart, Chicago Tribune Knight Ridder/Tribune Business News
Mar. 23--When British Petroleum PLC announced its $48 billion merger with Amoco Corp. in 1998, Robert Rodriguez spotted an opportunity for a one-of-a-kind experiment.
As the huge deal got under way, the human resources executive organized a study assessing the career aspirations of 212 Amoco colleagues from the purchasing department.
Initially, the workers were buoyed: Believing the merged company would follow through on a pledge to expand in Chicago, more than 80 percent said they were hopeful of a better future for themselves as a result of the deal.
Nine ...