Newarcher Posted February 4, 2010 Report Share Posted February 4, 2010 You know, sometimes it doesn't pay to get up in the mornings. I have been through the career ringer for the last 10 years. As IT became bigger in the 90's, I transitioned from Accounting/Finance into primarily IT through a series of moves. However, as the IT industry shook out, I found myself part of company buyouts and mergers and more buyouts. Finally about a year ago, the whale in the guppie tank bought us and we thought we had it made. We now work from home 100% of the time and have great benefits and our pay did not change. My job is to test software and sometimes assist customer support when there is an issue. We publish our existing releases and are heavily involved in QA'ing new products of the merged entity. We thought we were safe. Then an email came yesterday that our Company decided to move the QA functions for our existing products to India. We have to train the Indians on our existing product QA under the guise that we can move on to testing more aggressive timetables on the new products. We are assured by our management that no job losses will happen. However, our Company's founder and President told a reporter point blank that one of our other acquisition's employees had nothing to worry about, this was an opportunity to join a larger organization and turbo charge their careers. Then he fired almost everyone in that organization once he had the regulatory approval for the merger. So it looks like I will be shopping in the worst economy that anyone in three generations of my family has seen. All so that some billionare can save enough off my salary to buy fast food for a year. The only thing I can manage to say is 'just damn!'. New Quote Link to comment Share on other sites More sharing options...
Jeramie Posted February 4, 2010 Report Share Posted February 4, 2010 We are assured by our management that no job losses will happen. Good luck with that! We were bought out last year but a MEGA COMPANY (37 billion/ year). Things You would think they wouldnt cut were cut immediately. However, they spent more money on trivial things then you would immagine. Now we are moving to SAP program and 90% of our accounting staff is gone. Buy outs are very hard and its even harder to remain "safe". Good luck with the job hunt and sorry to hear about the cut. Quote Link to comment Share on other sites More sharing options...
Orion_70 Posted February 4, 2010 Report Share Posted February 4, 2010 Good luck with that! We were bought out last year but a MEGA COMPANY (37 billion/ year). Things You would think they wouldnt cut were cut immediately. However, they spent more money on trivial things then you would immagine. Now we are moving to SAP program and 90% of our accounting staff is gone. Buy outs are very hard and its even harder to remain "safe". Good luck with the job hunt and sorry to hear about the cut. I've been through more buyouts over the last 10 yrs than I can to think about, luckily I've survived the cuts. I've seen more and more support move to India, it's getting to the point where it's not that cheap anymore either. Hopefully companies will realize this. As for SAP.. Keep buying it it's a great company!!! Quote Link to comment Share on other sites More sharing options...
Adjam5 Posted February 4, 2010 Report Share Posted February 4, 2010 Sorry to hear the AX might swing. I hope it don't for you. What a shame that the CEO's play such a game with peoples lives . IMO, companies that do that to American employees should get hit with the TAX/penalize hammer for hurting OUR economy and boosting India's. Good Luck. Quote Link to comment Share on other sites More sharing options...
Newarcher Posted February 4, 2010 Author Report Share Posted February 4, 2010 Sorry to hear the AX might swing. I hope it don't for you. What a shame that the CEO's play such a game with peoples lives . IMO, companies that do that to American employees should get hit with the TAX/penalize hammer for hurting OUR economy and boosting India's. Good Luck. Well, the very problem that causes the jobs to move to India is our tax system. I don't think my company prefers Indian workers but it is cheaper to have an employee in India. New Quote Link to comment Share on other sites More sharing options...
Newarcher Posted February 4, 2010 Author Report Share Posted February 4, 2010 I hate to complain because I know there are many of you who are in much worse situations and have been out of work for a long time. However, it really pains me to see the absolute greed that runs our world. No more of the Woolworth like Corporate responsibility. I guess the real frustration is that I am in somewhat of a career crisis. If I could go back to Accounting, I would but I make too much money to go back there. So if I do lose this job, I am somewhat out to sea as to what to do. The more I deal with this Company, the more I like SAP. New Quote Link to comment Share on other sites More sharing options...
Jeramie Posted February 4, 2010 Report Share Posted February 4, 2010 However, it really pains me to see the absolute greed that runs our world. No more of the Woolworth like Corporate responsibility. I heard that! We took a 10% furlough last year to keep from having layoffs. That was mother company wide so we are talking THOUSANDS of people. They also implemented our six sigma and lean principles so spending was cut 100%. People don’t even get retirement parties anymore unless its funded by other employees... However, our big dog's reported salary in 2008 was $33.5mm! (wages, bonuses, and comp.) He was paid 600k for using the company Jet instead of flying commercial airways?! How in the CRAP does that make sense? Sorry, not trying to steal the thunder of your thread. Quote Link to comment Share on other sites More sharing options...
layin on the smackdown Posted February 4, 2010 Report Share Posted February 4, 2010 And its a wonder why our countries unemployment rate is the highest its been in 75 years.....lets keep outsourcing all of our work to every other nook and cranny on the planet... and then bail out all the big guys in our backyard, and then maybe throw out a few more billion into a stimulus package that has done nothing but increase our national debt... I hope it doesn't happen for your sake New, nothing sucks more than knowing that the axe might come down. hang in there. im in a similar boat, but its by choice.....i absolutely hate my job. Quote Link to comment Share on other sites More sharing options...
Newarcher Posted February 4, 2010 Author Report Share Posted February 4, 2010 I heard that! We took a 10% furlough last year to keep from having layoffs. That was mother company wide so we are talking THOUSANDS of people. They also implemented our six sigma and lean principles so spending was cut 100%. People don’t even get retirement parties anymore unless its funded by other employees... However, our big dog's reported salary in 2008 was $33.5mm! (wages, bonuses, and comp.) He was paid 600k for using the company Jet instead of flying commercial airways?! How in the CRAP does that make sense? Sorry, not trying to steal the thunder of your thread. I can do you one better than that. I once worked for a company in Finance and we were a non-profit. Hired a new President who took us to a for-profit company under the guise of being more competitive. A year or two later, he sold our company to his best friend's company. He had a huge salary and was given a huge golden parachute bonus for working the deal. His bonus was something like 12.5 million and do you want to know how they financed that bonus? They did a cash option on the pension fund and pulled that exact amount out of it. The cash option essentially is a recalculation of the methodology for calculating pensions. It benefits young workers but if you are 45'ish plus it can cut your pension by 30% or more. How that piece of work sleeps at night I don't know. He stole from old people. I personally know people who were nearing retirement that couldn't retire because of this. One died before he ever reached retirement. Shame shame shame. New Quote Link to comment Share on other sites More sharing options...
hammerforged Posted February 5, 2010 Report Share Posted February 5, 2010 I feel for you, lost my job of 26 years through a buyout back in 2004, then lost my next job in 2008. Nothing much out there for a Marine with no marketable skills and 53 years old. Quote Link to comment Share on other sites More sharing options...
stevebeilgard Posted February 5, 2010 Report Share Posted February 5, 2010 it's a very tough job market, and will surely get worse. hang on for a very rough ride. i'm glad i'm done. Quote Link to comment Share on other sites More sharing options...
Newarcher Posted February 5, 2010 Author Report Share Posted February 5, 2010 I feel for you, lost my job of 26 years through a buyout back in 2004, then lost my next job in 2008. Nothing much out there for a Marine with no marketable skills and 53 years old. Well, if I had a company, I sure as heck would hire you! Being a Marine is skills enough in my book. Heck..if I were rich enough I bet that I could hire you to clean my guns after I shoot (a job I HATE). I usually take so many I spend days doing it. I have a feeling you could get my AR's mighty clean! Hang in there my friend. New Quote Link to comment Share on other sites More sharing options...
The_Kat Posted February 5, 2010 Report Share Posted February 5, 2010 OG & E Enogex bought out the giant compressor station TransOak that sits on my parents property about ten years ago. When they did they laid off several guys that were within 3 years of retiring. It ticked my dad off, so he did everything he could to cost them money. He demanded road improvements, speed limits, and a check in gate to go through our property just to inconvience them for the terrible thing they did. Of course that was ten years ago and now the roads are washboarded, the gate stays open and they all fly down our roads.... Quote Link to comment Share on other sites More sharing options...
redkneck Posted February 5, 2010 Report Share Posted February 5, 2010 I wish you the best bud. I'm hanging onto a job in making auto parts and waiting for GM to sell off our only customer. It's a crappy job market and after 15 years in this business I really dont know what I'll do if I lose my job. If I could swap skills with you I would! I think you're far better off as an IT man than a manufacturing engineer. Best of luck going forward and I hope things pick up in this country for all of us soon, but I'm afraid this isn't going to happen anytime soon. Quote Link to comment Share on other sites More sharing options...
Newarcher Posted February 5, 2010 Author Report Share Posted February 5, 2010 (edited) Reading this post, it really seems like this Country is in a much more terrible spot than everyone realizes. Reading the headlines, I am seeing that most States are in serious financial troubles and it is my opinion that we are headed for another, potentially more severe dip this year. If you have money in the market, you may want to seriously consider getting it out. I think we are headed for real trouble as Commerical real estate markets collapse and their loans go bad on lenders. Further, taxes put in place by our communist president will cause more job losses. Lastly, we are insolvent as a Country and our communist president is spending us out of existence. Hang on and pray folks! I have realized that whatever worries I have, there are a lot of fellows a lot worse off than I and I in no way meant to heap any coals on your head as the saying goes. Nothing worse than listening to someone complain about what MIGHT happen when it already happened to you. New Edited February 5, 2010 by Newarcher Quote Link to comment Share on other sites More sharing options...
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