Taking advantage??

  • Posted by a hidden member.
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    Sep 12, 2009 10:41 AM GMT
    Do any of you guys think that thier companies are using the economy as an excuse to screw them? ( cutting pay, no raises,etc.)

    My boss keeps informing everyone how bad business is ( I work with the books, and while business is down it's not as horrible as he paints it )
    and that he can't afford to do anything for the staff ( I haven't have a raise in 2 years and the last time I inquired he went ballistic)

    Yet he also talks about the new boat he bought for wake boarding on the lake that he lives on, How he decided to put his kid in hockey ( not a cheap sport ) , He even put in a swimming pool at his house AND HE LIVES ON A LAKE!

    wouldn't you think if you're asking your employees to tighten their belts that would wouldn't rub your spending in their faces??
  • Posted by a hidden member.
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    Sep 12, 2009 5:37 PM GMT
    I totally get what you are saying. My company said no raise or promotions in last cycle due to bad economy. But that didn'y stop them from throwing a huge party for upper management spending loads of money.
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    Sep 13, 2009 1:10 AM GMT
    Yeah, I'm definitely seeing it at my company. I'm in financial services, but we've actually been profitable. Despite that, they've been cutting back.

    - Cutbacks in all "non-revenue generating" (ie, non-sales) departments.
    - Holiday parties for last year and this year have been canceled.
    - Our annual 'wage adjustments have always been pretty paltry to begin with, but this year it was a mere 1% raise.
    - They discontinued the quarterly bonuses, in favor of an annual bonus (so, if you quit your job before the end of the year, or are hired mid-year, the company keeps your a portion of the pay-out).

    (Now, to management's defense, they did also discontinue catered meals for executive meetings.)

    They are even taking advantage of the tight job market to make non-financial changes, knowing people can't leave. For example, just this week, they rescinded "casual Fridays", and are more strictly enforcing the every work day "business casual" dress code. And lately, they have even began to restrict internet usage.

    The managers keep this atmosphere of "well, you should feel lucky to have jobs in this economic environment", despite the fact we are profitable and buying up the competition.
  • EricLA

    Posts: 3462

    Sep 13, 2009 3:41 AM GMT
    I would find it incredibly difficult to work under the conditions you describe. I'd keep an eye on other things out there. But I most certainly wouldn't quit over it. But I'd find it hard not to become contemptuous and bitter about supporting his lifestyle when his employees are the ones shouldering all the burden.