a bad day

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LadyEllen -> a bad day (12/19/2008 4:47:16 AM)
Just returned today from doing something I've never done before and which I really didnt want to do. I looked at the last three months, our financial standing and the prospects for next year. From that I had to restructure the company to make things more efficient. From that and the available incomes it was apparent that half the positions in the company had to be made redundant. Just before xmas. So yesterday I broke the news that to save the company in the short to medium term, half of my staff would be out of jobs as of tonight. Yes, I feel like a shit. But on the other hand it was basically a case of half today and the other half keep jobs - for now at least - or keeping things as they were and everyone likely being out of work by April. Do I blame myself? In some ways yes - but on the whole absolutely not. This is the result of nothing that I have done, no error, no omission, no negligence; this is the result of bankers' and financiers' errors, omissions and negligence - and designs. Am I angry? Absolutely. What can I do about any of it? Little or nothing more or less than what I have done. What would I like? The heads of the executive board members of many financial institutions, politicians, regulatory bodies and other guilty parties on pikes. But such thoughts make me a terrorist in our brave new world where one can "see guile" in everything but may not speak it. E

sirsholly -> RE: a bad day (12/19/2008 4:58:16 AM)
LadyE...a difficult time for all involved.

LumusandtheLady -> RE: a bad day (12/19/2008 5:16:13 AM)
It's a hard time and you did the best thing possible. Even with the fluctuating markets, who's to say what will happen in 6-12 months? The value of the dollar/euro/pound is changing at incredible speeds. I've seen accounts valued at $5 million now valued at maybe $2 million. Nothing fiscally irresponsible was done - it's just the change in market values. My thoughts are with you and your employees - past and present, LadyE. Rain

pahunkboy -> RE: a bad day (12/19/2008 6:13:06 AM)
Lady E., from the ashes a new Phoenix will rise. those independent thinkers will mode a new business model, that will return prosperity to the few that have the creativity to unleash it. You should do some thought stream, expand your mind. You are 1 of a dozen on this board that WILL EXCEL. We cant clearly see what the future is, and things will decline over the next many months. But there is hope. So embrace your sadness for the moment, then later spot the ideas that will build that new tomorrow. Humanity has the potential... we dont know everything there is to know. tune in to just one right idea, and the days get brighter. :-)

GreedyTop -> RE: a bad day (12/19/2008 6:14:20 AM)
big hugs

ScooterTrash -> RE: a bad day (12/19/2008 6:39:46 AM)
You had to make the same decision many companies are faced with right now. Keep everyone and face possible failure for all in the next few months, or cut back and save the company, so there will still be a company for the remaining ones in the future. The company I am with has never had a layoff since it began in 1978, in Mid January that will all change, nearly 1/3 of the employees will be let go. It's necessary to insure the existance of the company into the future. Hard times make for hard decisions.

pahunkboy -> RE: a bad day (12/19/2008 6:53:27 AM)
and yet, there is ALWAYS work to be done. the money changers got too greedy, and now they are obsolete by their own doing. no doubt it is a challenge to figure out what toil can be traded for what item. ACF laying off 230 workers here. Min 6 months. You should see these men. I can picture it, able bodied men, with 6 idle month. 24-7 to hang out, drink, smoke, and chase woman. sometimes said woman are the property of some other guy. SO fight. But drinking will make all the problems go way. until ... the fight. all that testostrine, looking for pussy, 6 month, 24-7. pussy beer and no money. I think we are in trouble.

servantforuse -> RE: a bad day (12/19/2008 7:31:55 AM)
When this economy starts to turn around, probably late this spring, it is very probable that those same employees will be hired back again

SilverMark -> RE: a bad day (12/19/2008 7:50:32 AM)
Having to lay-off people has been one of the hardest things I have had to do as a business person and as human. I have for the most part been able to help them get placed with friends who are still in need of employees and most have seemed pretty happy when I followed up with them. It never gets easier, it never hurts any less but, it is reality.(for now) Do what you can to help them land as well as possible and go back to work to do the best you can to maintain the company or there will be nothing for anyone to depend on. I empathize with you 100%. If there is any solace to be taken, my stores have actually performed well enough to make a few dollars and wouldn't have without the cuts in personnel, and I am not really in a "Christmas sensitive" industry.

UncleNasty -> RE: a bad day (12/19/2008 8:54:35 AM)
That really sucks for you, and for them. Even when unavoidable firing people is not easy or comfortable. Uncle Nasty

LadyEllen -> RE: a bad day (12/19/2008 9:04:07 AM)
Thanks everyone; I know its the right decision (its the only decision) but it doesnt make it any easier. PA - I feel your confidence in me might be misplaced. In UK one can be the very, very best there is (not that I am but just for illustration) - if you dont have security you dont get finance even in a happier market, and if youve failed in business thats that generally - no second chances, you usually lose everything and often youre bankrupted too. We really need a US style system where entrepreneurs dont have to win or lose all forever and can have a second chance. E

pahunkboy -> RE: a bad day (12/19/2008 10:51:51 AM)
Lady E., In a way it wont matter too much which country you are in, everything is turning upside down. I understand the UK has alot of red tape. Refocus. Mode your mind into outside the box. So winners ARE going to emerge later. The "state" will never 'save" us. We, will save us. Not the state.

myotherself -> RE: a bad day (12/19/2008 11:01:38 AM)
my thoughts are with the people who now have to look for jobs in the new year. As someone who was made redundant without warning 4 years ago in the week before christmas, I know how devastating it can be. No job, and next to no chance of finding one until the holiday is over. I was one of the lucky ones - I was able to retrain into another career, although it took nearly a year in claiming benefits and going through the humiliation of welfare assessments before I could start my training, an experience I hope I'll never have to go through again. Times are hard - we can only hope they won't get too much harder.

kdsub -> RE: a bad day (12/19/2008 11:52:02 AM)
I hope you were able to provide severance packages. I've always wondered why small to median sized employers when faced with your situation don't try to negotiate some sort of profit sharing as a salary base.. Otherwise if they choose to stay their salaries will be based on a percentage of your profits only. Most likely this is too simplistic I know...but still it seems an option. Butch

susie -> RE: a bad day (12/19/2008 12:42:02 PM)
I know how hard the situation must be for you LadyE. We have just had to tell our apprentice that we cannot afford to keep him on in the New Year. We are one of the small business that the banks are supposed to be helping. In our case they have done that by suddenly demanding the repayment of the small overdraft (5k) we have with them. Obviously if we had the extra 5 grand hidden somewhere we would not have needed the overdraft in the first place. So back on the dole is a young lad with no qualifications and little hope of finding another job with so many others out there looking. kdsub: Profit sharing would only work if there was a profit being made. In our case we make enough money to pay our bills with nothing left over. Small business do not make huge profits these days and whilst all employers would love to provide severance packages and support their employess the money is just not there to do that.

LadyEllen -> RE: a bad day (12/19/2008 4:21:34 PM)
quote: ORIGINAL: kdsub I hope you were able to provide severance packages. I've always wondered why small to median sized employers when faced with your situation don't try to negotiate some sort of profit sharing as a salary base.. Otherwise if they choose to stay their salaries will be based on a percentage of your profits only. Most likely this is too simplistic I know...but still it seems an option. Butch theyre getting four weeks notice payment we could propose a split on commissions - but we'd have to pay minimum wage anyway, whether they made anything or not, so the percentage of the commissions would have to be quite small and only start at the c. £1000-00 level each month (they'd have to achieve that before any profit share); if they were each making that sort of revenue for the company now, we'd have less and maybe no need to take the decision.... E

LookieNoNookie -> RE: a bad day (12/19/2008 5:19:14 PM)
quote: ORIGINAL: LadyEllen Just returned today from doing something I've never done before and which I really didnt want to do. I looked at the last three months, our financial standing and the prospects for next year. From that I had to restructure the company to make things more efficient. From that and the available incomes it was apparent that half the positions in the company had to be made redundant. Just before xmas. So yesterday I broke the news that to save the company in the short to medium term, half of my staff would be out of jobs as of tonight. Yes, I feel like a shit. But on the other hand it was basically a case of half today and the other half keep jobs - for now at least - or keeping things as they were and everyone likely being out of work by April. Do I blame myself? In some ways yes - but on the whole absolutely not. This is the result of nothing that I have done, no error, no omission, no negligence; this is the result of bankers' and financiers' errors, omissions and negligence - and designs. Am I angry? Absolutely. What can I do about any of it? Little or nothing more or less than what I have done. What would I like? The heads of the executive board members of many financial institutions, politicians, regulatory bodies and other guilty parties on pikes. But such thoughts make me a terrorist in our brave new world where one can "see guile" in everything but may not speak it. E Sweety, you always write so well...and so politely. It's the times...people aren't buying...it happens. I'm sure there will be more than several responses; "hang the bastards"...but the truth is...we're the bastards...we're simply not buying. And people suffer. Be thankful...and be sure to extend your hand where you can.

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