A transcript of a CBC News interview with the CEO of a financial industry group has raised new questions about the way the industry treats employees.
The transcript of the interview is available on the CBC website.
In the interview with CBC Radio’s On the Money, Richard Branson, CEO of Virgin Group, says he has received a number of complaints from staff about inappropriate behaviour.
In one instance, a staff member complained about the CEO taking part in a fundraising dinner.
Branson said he’s had to deal with staff complaints before, but this was different.
“It was really concerning to me that a lot of staff were getting up at 4 a.m. to go to work every day and it’s very, very unusual that I have to deal at 4:30 a.mi. with staff who have made their own decisions to go and work in the evenings or to go home and relax,” Branson told On the Bank.
“I have to ask the question, is that the way to behave, is it the way you want to behave?”
Branson added that he and his employees are working to address the issues, but that the issues will continue to be a problem.
“Our culture is always changing,” Bringsonsays.
“And so we are going to be constantly trying to evolve our culture, to make sure that we treat people fairly, that we respect people’s needs and wants, and also to make it easier for people to get the best possible deal and for people who are making the same or similar decisions, to have the opportunity to do so.”
The CEO also said that he will be addressing the issue of the bonuses to his employees.
“So, it’s just a matter of getting back to the basic principle of fairness and the respect of all the staff and the people who work for us,” he said.
“As you can imagine, it is very challenging and stressful working in an industry that is based on bribery, cronies, nepotism, and the abuse of power.
So we are committed to getting it right and getting it fixed.”
Virgin Group had an outstanding $20 billion revenue in 2017, according to its annual report.
Virgin Group has also been involved in an ethics scandal with former CEO Richard Bringson, who resigned from the company in May.
Bringsson has been under investigation for allegedly accepting gifts, vacations and other perks while at Virgin Group.
The company’s chief financial officer, David Sacks, resigned in May after the allegations surfaced.
Sacks has also admitted that he gave employees gifts and was paid for speaking engagements, including a paid appearance at the Cannes Film Festival in 2016.
In a statement, Virgin Group said it was working with Sacks and the Ethics Committee to “make sure that the right measures are in place for our employees and we will do everything in our power to ensure that our culture is as fair and as ethical as possible.”
“The company has committed to providing its employees with the highest level of care, compassion and respect.
As Virgin Group is an equal opportunity employer, all employees will be treated with the utmost respect,” Virgin Group added.
