My company conducted
a workforce reduction today. As with every other company trying to remain competitive, profitable and sustainable, it was an
inevitable step.
This is the fourth workforce reduction in twenty months. Another 11% of the workforce is gone this time around; a total of 27% of the workforce is gone compared to the prior year.
More friends and acquaintances are gone--just like that.
I still have my job. My team still have their jobs, for which I am very thankful.
Every time this has happened, the day starts out eerily quiet, whether we know it's coming or not. This time, I knew it was coming. Not everyone did, though.
Here's how it goes: HR comes over to the person and quietly says, "can I speak to you in this office?" A five minute conversation goes on behind a closed door. Shortly thereafter, the person emerges with drooped shoulders, head down, perhaps red-eyed. He or she quietly return to their desk where moving boxes have mysteriously shown up. It doesn't take long. The
cube mates nearby talk in hushed voices, wondering whether they should approach the most recent victim of the process. Finally, a brave soul goes over and confirms the obvious. Hugs, more tears. They have been told they should leave the building as soon as reasonably possible. Oh, and it's not personal (in so many words...).
It's all over in a couple of hours. Then for those who are still left with their jobs intact, the quiet is replaced with guilt. Guilt that they were the lucky ones to still have a job and that they had to say good-bye. If they said anything at all. Guilt because they were stacking up the pros and cons, creating "what-if" scenarios in their head and the selfish sentiments of "better her than me." Guilt because they may be thinking, "that
could've/
should've been me."
It's no good. No good at all. But that's business. It's about right-sizing our company to run as efficiently as possible to drive sales. "Today was a very dark day in the company's history", said our COO of the company this afternoon. And he slept terribly these past couple of nights. "It was a difficult, difficult decision." He feels our pain. But it was doing greater good for the greater number of people--our shareholders. Our stock has gone from $0.28 /share a week ago to $0.54 /share at close of today, so I guess that's good for them. Oh yeah, we also learned today there will be a company-wide wage freeze and the company 401K match is suspended for FY2009. Did I tell you that it's all about business? It's buying more time to ride out this current economic
shit hole we're currently in. I certainly hope we have enough cash...
And we still don't have an answer on where the board is leaning on the strategic alternatives review currently being wrapped up. I guess we'll know by January 31.
When is it all going to stop?
the elder table
