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Have you worked for a company that was "sinking ship"?

Posted on 4/25/17 at 7:14 pm
Posted by Tarik One
Member since May 2016
2094 posts
Posted on 4/25/17 at 7:14 pm
Did your bosses flat out deny it even though a lot of the telling signs were there or did they acknowledge the company's state and that they were taking measures to help improve the business? I once worked for a Mortgage company and they were totally open about the decline of the firm.

Did you ride it out til the end or did you jump ship?

Shyt's bad here, yet they're acting as if everything is smooth sailing.
This post was edited on 4/25/17 at 7:18 pm
Posted by nateslu1
Mr. Belvedere Fan Club
Member since Apr 2012
6437 posts
Posted on 4/25/17 at 7:16 pm to
No but think about it if this is true. Why would they tell you if they know it's sinking?
They are probably looking for jobs right now. They probably don't want to send a bunch of other people to compete with them in the job market.
Posted by Vols&Shaft83
Throbbing Member
Member since Dec 2012
69917 posts
Posted on 4/25/17 at 7:17 pm to
Start putting your resume together immediately.


It's going down quicker than you think
Posted by Bourre
Da Parish
Member since Nov 2012
20280 posts
Posted on 4/25/17 at 7:18 pm to
If it's sinking and you know it, start looking for another job. It is better to be looking for a job while geeting paid than sinking with the ship and being unemployed while looking for a job.
Posted by OweO
Plaquemine, La
Member since Sep 2009
113970 posts
Posted on 4/25/17 at 7:18 pm to
I wouldn't say the company itself was a sinking ship, but a certain part of the company was a sinking ship.

They were expecting to get several big projects and the managers were telling everyone "it is about to start getting really busy soon, we have a lot of work coming in" instead of "we bid on several big projects and if we get them all then we will be really busy, but that's if we get them all". They ended up getting zero of the projects they bid on and they laid off people before anyone had time to jump ship.
Posted by Ed Osteen
Member since Oct 2007
57496 posts
Posted on 4/25/17 at 7:19 pm to
I saw a new sign today for a restaurant named "sushi & saki" at that horrible location on Perkins by Essen. Lassiegns (sp?) just closed down a few months ago and there are now 4 sushi residents within a few hundred yards of each other. I wish I could convince the owner to pay me instead of sinking money into that future failure
Posted by nateslu1
Mr. Belvedere Fan Club
Member since Apr 2012
6437 posts
Posted on 4/25/17 at 7:19 pm to
Definitely better to find a job while you're still employed than to try to find a job while unemployed.
Posted by Gaston
Dirty Coast
Member since Aug 2008
39025 posts
Posted on 4/25/17 at 7:19 pm to
I worked on a program, with 2 thousand engineers, that announced a retention package to keep us while the program ended. I was the first to leave.
Posted by WB504
New Orleans
Member since May 2008
5874 posts
Posted on 4/25/17 at 7:20 pm to
Yes, for a mortgage company. District manager came in and gave a speech saying we were going to focus on debt collection instead of refinances for the foreseeable future. Two weeks later we go in to work to find out the company is closing for good.
This post was edited on 4/25/17 at 7:21 pm
Posted by yellowfin
Coastal Bar
Member since May 2006
97649 posts
Posted on 4/25/17 at 7:21 pm to
Yes but thankfully with my job I'm the first to know.
Posted by nateslu1
Mr. Belvedere Fan Club
Member since Apr 2012
6437 posts
Posted on 4/25/17 at 7:21 pm to
quote:

They were expecting to get several big projects and the managers were telling everyone "it is about to start getting really busy soon, we have a lot of work coming in" instead of "we bid on several big projects and if we get them all then we will be really busy, but that's if we get them all". They ended up getting zero of the projects they bid on and they laid off people before anyone had time to jump ship.



Sounds to me like what they really need is a closer
Posted by jlu03
San Diego
Member since Jul 2012
3320 posts
Posted on 4/25/17 at 7:22 pm to
Yes... Chevron
Posted by OweO
Plaquemine, La
Member since Sep 2009
113970 posts
Posted on 4/25/17 at 7:22 pm to
Like others said, its best to start looking now. There are times when you might think it is worse than it really is, but you always need a backup plan.

You never know, you could actually end up finding a better job than the one you have.. The good thing at this point is that you still have options. You don't have to take the first job that becomes available.. But you want to make sure you do get to the point where you have to take the first job that becomes available.
Posted by Retrograde
TX
Member since Jul 2014
2900 posts
Posted on 4/25/17 at 7:22 pm to
Yup, and if my department is around in 6 months I'll be surprised. Getting my shite ready.
Posted by East Coast Band
Member since Nov 2010
62805 posts
Posted on 4/25/17 at 7:24 pm to
Yes.
I wasn't all that bad.
Because I enjoyed the people I had worked with.
But there was no denying our collapse.
Posted by LucasP
Member since Apr 2012
21618 posts
Posted on 4/25/17 at 7:24 pm to
Best to ride it to the crash, people respect that. And you can file for unemployment while you look for a new gig, free money bro
Posted by nateslu1
Mr. Belvedere Fan Club
Member since Apr 2012
6437 posts
Posted on 4/25/17 at 7:25 pm to
Yeah but how much does unemployment really pay out? I heard like 60% or something like that.
Posted by LucasP
Member since Apr 2012
21618 posts
Posted on 4/25/17 at 7:26 pm to
quote:

heard like 60% or something like that.


More like 35, but zero times the work
Posted by nateslu1
Mr. Belvedere Fan Club
Member since Apr 2012
6437 posts
Posted on 4/25/17 at 7:27 pm to
I guess that would work for someone without a mortgage
Posted by foshizzle
Washington DC metro
Member since Mar 2008
40599 posts
Posted on 4/25/17 at 7:27 pm to
quote:

Did your bosses flat out deny it even though a lot of the telling signs were there


Yep. Worked for one place and fortunately spotted the signs and noped out just in time to receive the last paycheck anyone saw. I warned some coworkers but they disregarded my advice and wound up being rather unhappy when they didn't get paid.

>I once worked for a Mortgage company and they were totally open about the decline of the firm.

I did as well (United Companies actually) and senior management was very straightforward about it with all the employees.
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