From the bureaucratic conglomerate American corporations that rode high during their heydays of making the dough; a lot of these institutions are dwindling down into extinction and liquidated by means of company closures, bankruptcies and through acquisitions from other corporations.
During this economic downfall, millions of Americans are without jobs, in addition leaving the other millions of Americans to speculate of their own future with their current company.
Employers aren’t handing out free passes to anyone, especially the lower level laborers who are always left in the dark with the many decisions upper managements make. These companies aren’t going to give you a 12 months heads up to forewarn you of the closure or lay-offs. Although this is the case, here are five (5) for sure signs of an ailing company that may be ready to take the plunge into “FAILING.”
1) Cutting down operational expenses. Nothing’s coming in or going out. You find yourself sweeping floors, reading a book or two daily and dusting off the machines. This is definitely a clear sign of an ailing company. Funny though, your direct supervisor says that things are going to get better and they’re looking at other avenues to expand the business which is the reason why they haven’t had anything come through lately.
2) Hiring freeze. There are abundant of work orders, but the company isn’t hiring anyone. From experience, a company that I used to work for did this and soon enough they laid off the whole operation in the state, and called it “consolidating the operation elsewhere.”
3) Hours cut at work. They are trying to limit their expenditures in paying you, the employee, because demands for the company’s product has dwindled, or their contract has expired and they weren’t able to bid the right price to renew the contract. Too bad for you, upper management is also taking a hit, so they don’t really care about what you think.
4) No raises for anyone in the company, although your yearly performance appraisal shows you’re doing exceptionally well; how unfortunate for you, your income has stayed stagnant for the last decade or so. The company isn’t willing to fork up any additional funds to you hourly because they can’t afford to. Personally again, I’ve had this same situation work against me, which resulted into closure in the operation a year later.
5) Downsizing: lay-offs. Even though you didn’t go down with the first wave of lay-offs, you might on wave two. A recommendation: You better be on your feet to get ready for yours.
It is what it is. Companies of all sizes are trying to cut down on expenditures to gain a buck or two. Their sole responsibility is to report a positive earning at the end of the year to their shareholders, even if it means laying off a few hundred employees or closing down operations in a local community that relies on that company, so to simply open off shore operations in other countries. Why not? It makes sense for the reason that laborers are abundant and willing to work for a lower wage. Like aforementioned, it’s all about the Benjamins.
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