Thursday, March 19, 2009

When the business is tanking, should you tell the staff?

By Emily Maltby

FARMINGDALE, N.Y. (CNNMoney.com) -- Gary White has a problem many business owners share these days: His company has taken a financial hit, and he's not sure how honest he should be with his staffers about the situation.

White (not his real name) runs a legal services firm on Long Island. The companies he represents are losing sales, and consequently, so is he. But when White mentioned to his employees that the business was not doing well, he ended up scaring them.

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