Except from an advisor hub article that references MS CEO’s “new blood” comment dated 6/23/23:
“When CEOs talk about “firing people who make the most money” that’s been deemed by courts to amount to “another way of saying age discrimination,” Trulock said. Although “new blood” comments are not always presumed to mean age discrimination, “Managers who say things like that have to be educated that you can’t do that,” she said.
When a CEO makes the types of comments that Gorman made, plaintiff lawyers will likely be motivated to file discrimination claims and the company may “have to go through the time and expense of showing that here’s the exact reason why this person was let go, as opposed to a different person,” and “they’ll have to prove that in court,” Trulock said.
The good news for Morgan Stanley about Gorman’s bluntness is its timing. He made his remarks after the layoffs already took place, and lawyers defending a company in such a situation could argue that his talk didn’t influence the decision makers who were determining whom to hand pink slips, Trulock said.”
I’m sure T legal team has documentation ready to go that proves location vs age. Nothing is going to happen Stank regarding his comments, unfortunately.