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Started By
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Has this ever happened where you've worked?
Posted on 9/27/22 at 2:09 pm
Posted on 9/27/22 at 2:09 pm
A local company I interviewed with recently laid off several people due to lack of cashflow this quarter. Since they laid them off several others have jumped ship on their own. Now the company is struggling with lack of manpower and are trying to hire more people now. Just seems strange to me
23
Posted on 9/27/22 at 2:14 pm to PEwannabe
Shitty company lays people off
People leave company
Company then needs to hire more people they will eventually lay off
The circle continues.
People leave company
Company then needs to hire more people they will eventually lay off
The circle continues.
Posted on 9/27/22 at 2:14 pm to PEwannabe
Never had it happen anywhere that I worked but saw something similar happen where my wife used to work. They laid a bunch of people off citing shrinking profits. Well, that scared a lot of people off who went literally next door to a company in the same industry who were hiring like crazy and paying more.
Turned out my wife's old company was poorly managed. Shocking, right?
Turned out my wife's old company was poorly managed. Shocking, right?
Posted on 9/27/22 at 2:37 pm to PEwannabe
It happens frequently. An employee with some value might see the company as struggling because it doesn't have good cash flow, so that person of value wants to control their own destiny and jump to a more stable company.
Posted on 9/27/22 at 3:10 pm to PEwannabe
Saw it years ago with the O&G companies...they layoff employees and then within a year, hire them back as independent contractors at a much higher pay
Posted on 9/27/22 at 3:40 pm to PEwannabe
quote:
A local company
What’s the name of the company?
Posted on 9/27/22 at 3:43 pm to PEwannabe
You really make a mistake as a manager when you push your employees to the point that they begin to explore other job opportunities. To me it's best to keep what you have if they are effective. Unfortunately nobody sees the long term anymore, just the current quarter.
Posted on 9/27/22 at 4:24 pm to PEwannabe
Can't blame people who know a sinking ship when they see one. Sounds like you need to polish up your resume.
Posted on 9/27/22 at 4:33 pm to PEwannabe
There’s so many shitty companies out there. Unfortunately (or fortunately depending on how you look at it) a lot of them are about to die.
Posted on 9/27/22 at 4:35 pm to PEwannabe
Sounds like the oilfield to me. Make massive cuts during a downturn then scramble for people when it picks up cause they laid off all their best employees 
Posted on 9/27/22 at 4:39 pm to PEwannabe
Did the top 3 people take a pay cut to try and make the company work before they laid folks off?
Posted on 9/27/22 at 4:58 pm to Fat and Happy
quote:
Did the top 3 people take a pay cut to try and make the company work before they laid folks off?
Posted on 9/27/22 at 5:45 pm to PEwannabe
quote:
A local company
What is local? What does local mean?
Posted on 9/27/22 at 6:02 pm to PEwannabe
The workforce is in a weird place right now. In our quarterly call last week they talked about how talent management is struggling trying to balance managing employees who are content doing the bare minimum to meet expectations with a global workforce that is extremely competitive over talent right now.
We all got off the call thinking wtf did we just listen to.
We all got off the call thinking wtf did we just listen to.
Posted on 9/27/22 at 6:31 pm to PEwannabe
Well, I have been forced to lay off employees. This forced the remaining employees to work through breaks and be stressed out during their lunch. Also, forced people to work overtime. I warned the administration this would happen. I was already 4th most efficient lab in a company of over 300 labs. I knew also, that if overtime did not happen after the cuts, administration would say, "yep, you were overstaffed...that proves it." So, after a couple of months with no relief, employees began to leave. I left after another 6 months.
Posted on 9/27/22 at 6:35 pm to PEwannabe
Yes, my first employer had a round of layoffs in 2009 and several people left voluntarily over the next 6 months because of the work load and because the people who were laid off were friends and great coworkers. I lasted until my favorite manager left. The partner was a massive dickbag in the meeting when I told him I was leaving, which made me feel better about the decision.
Posted on 9/27/22 at 7:05 pm to PEwannabe
No directly but one of our vendor/machine shops.
Machine shops suffered badly last year. Machinists laid off, then company went to 4 day work weeks. Business picked up earlier this year and not enough machinists to run orders. Quotes went from 6-7 weeks before last year to 9-10+ weeks this year with late deliveries common.
Was speaking with owner and they had to turn down some big orders because they couldn’t afford to carry $55K in raw material costs for 16-18 weeks. 10 weeks to make plus 6+ weeks of billing cycle to get paid.
It’s a death spiral if not managed properly. It’s our best machine vendor and we utilize a lot of metal-to-metal sealing is essential at high pressure of 20,000 to 30,000 psi. To help them we are paying for raw materials at time of order.
Cash flow is a bitch.
Machine shops suffered badly last year. Machinists laid off, then company went to 4 day work weeks. Business picked up earlier this year and not enough machinists to run orders. Quotes went from 6-7 weeks before last year to 9-10+ weeks this year with late deliveries common.
Was speaking with owner and they had to turn down some big orders because they couldn’t afford to carry $55K in raw material costs for 16-18 weeks. 10 weeks to make plus 6+ weeks of billing cycle to get paid.
It’s a death spiral if not managed properly. It’s our best machine vendor and we utilize a lot of metal-to-metal sealing is essential at high pressure of 20,000 to 30,000 psi. To help them we are paying for raw materials at time of order.
Cash flow is a bitch.
Posted on 9/27/22 at 7:10 pm to Tridentds
Nothing like that but I was in a first round of layoffs at a company about 10 years ago. We had two separate govt contracts and the funds on my side were dwindling down. I had thought I’d make it to the summer then start looking. I was laid off with about 25 others at the end of March. Decent severance package and was working again before May started. Many of the remaining employees stayed on because there were supposedly two years left on their side before contract renewals would start. They shut their doors in 18 months though. Sort of glad I got out when I did. At the time it was rough. The owners had some side businesses and would throw some work at the accounting staff, but eventually they couldn’t justify keeping a whole team and the ones that supported them. Shame because it was a great company with a good culture. Literally, Thanks Obama, for shutting it all down.
Posted on 9/27/22 at 7:23 pm to PEwannabe
Haven’t personally had it happen to me. Closest was probably covid scaring a few big firms to go into cost cutting mode that lead to people jumping because they wanted stability and now same big firms don’t have near enough people.
Posted on 9/27/22 at 7:29 pm to PEwannabe
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