TOKYO/LONDON ¨C For all the assurances by Nikkei executives last week that the Financial Times will retain editorial independence under their ownership, some staff at the London-based business daily are fretting about everything from journalistic standards to holiday allowance.
Most acquisitions cause workforce anxiety, but some of Japan Inc.¡¯s overseas buys have foundered on perceived differences in corporate culture and values.
Nomura¡¯s cut-price purchase of parts of failed Wall Street broker Lehman Brothers during the financial crisis caused tension and resentment, and hit the bottom-line. Gung-ho Lehman bankers champed at Japanese conservatism and bureaucracy, while Nomura veterans chafed at how much Lehman staff were paid.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.