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P.M. BRIEFING : Bank Cancels Layoff Secrecy Pledge

June 16, 1989|From Times wire services

BUFFALO, N.Y. — Goldome today rescinded its policy of requiring laid-off workers to sign an agreement promising not to talk to the media about losing their jobs in order to receive full severance pay.

The policy had embittered current and former employees who felt the bank was threatening laid-off workers.

Goldome Chief Executive Officer Thomas Cooper said, "Our intention, to help assure the confidentiality of employee, customer and corporate information . . . has been submerged by misperceptions of the agreement. This makes its continued use counterproductive."

As many as 150 people had been terminated in recent weeks and asked to sign the "Release and Confidentiality Agreement."

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