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Uh oh...presentation from our company pres
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Replies: 8
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Uh oh...presentation from our company pres


Apr 1, 2020, 4:25 PM

just came out telling us how we'll get through this virus thing together, how cash strong we are etc etc.

Then as I have grown to learn, the exact opposite reality comes in an email 9 minutes later that says we did a business unit re-org, and fired a bunch of sales guys. I guess those guys won't be going through it with us.

If this goes in its normal cycle, HR will be sending out an email shortly that says they have deleted 401k matching or something, and telling us how big of a benefit that is to us.

badge-donor-05yr.jpg flag link military_tech thumb_downthumb_up

awww, pore thang***


Apr 1, 2020, 4:26 PM



flag link military_tech thumb_downthumb_up

If she's a hollerer, she'll be a screamer.
If she's a screamer, she'll get you arrested.


wut***


Apr 1, 2020, 4:30 PM



badge-donor-05yr.jpg flag link military_tech thumb_downthumb_up

We've suspended 401k matching indefinitely.


Apr 1, 2020, 4:31 PM

Virtually everyone was furloughed last week (used vacation) and our CEO and upper management have taken 20% pay decreases. I expect that we will have more furloughs, the plan is to keep everyone and protect benefits for all employees. As I get 4 weeks vacation and carried over 2 weeks from last years I'm not too concerned so far.

2024 white level memberbadge-donor-20yr.jpg flag link military_tech thumb_downthumb_up


They will let you use your vacation? How does that help


Apr 1, 2020, 4:33 PM

with cash flow? Seems to me that would be less productivity and still paying out salaries. Good for you if that works, but confuses me.

2024 purple level memberringofhonor-greenr.jpg flag link military_tech thumb_downthumb_up

takes the liability off the balance sheet***


Apr 1, 2020, 4:36 PM



badge-donor-05yr.jpg flag link military_tech thumb_downthumb_up

Banked vacation/sick time is actually an asset on the books


Apr 1, 2020, 4:37 PM [ in reply to They will let you use your vacation? How does that help ]

for the company. It's seems counter intuitive but if they can lower controllable assets (banked time being one) financials will look better in the short term.

flag link military_tech thumb_downthumb_up

^^^They're correct^^^


Apr 1, 2020, 4:41 PM [ in reply to They will let you use your vacation? How does that help ]

Reduces debt so makes the company more stable.

2024 white level memberbadge-donor-20yr.jpg flag link military_tech thumb_downthumb_up


Good Luck all. Hopefully we’ll get a glimpse of the light..


Apr 1, 2020, 4:58 PM

At the end of the proverbial tunnel _ real soon.

Just retired after working professionally for big corporations for over 40 years. I know the BS speak from executive leadership all too well. There’s always some anxiety in times like these ... at least for me there was. Now I worry about my kids and grandkids.... and all the men and women providing for their families.

Be strong. Keep your faith.

badge-donor-05yr.jpg flag link military_tech thumb_downthumb_up

Replies: 8
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