Here’s the latest email we’ve received…. Remember, we’re making a profit….
Like every employer, ### is grappling with very difficult economic conditions in the midst of an unprecedented global slowdown. As a result, we are bracing for a potential slow down in our sales in 2009. For the long term success of our business, we are proactively looking at ways to control our expenses.
Our single largest expense is the people expense – i.e., salaries, and fringe benefits for our employees.
After considering many options, we have decided to suspend our employer match contribution to ###’s 401k plan. This change will be effective immediately. At the end of 2009, depending on how our business performs in the coming months, we may or may not decide to make a one-time contribution. This one-time contribution is at the Company’s discretion and may or may not represent the same aggregate amount that we would have contributed under the bi-weekly payroll match process that has been used in the past at SMT.
If you have any questions on this matter, please do not hesitate to reach out to #### or myself.
So there you have it… I’ll bet that there are more things coming. Maybe we don’t get free coffee anymore. They’ve entered into a contract, so that can’t take away our health insurance (at least I think they cant)
Papa says that this is what it’s like working for investors. I’ve no doubt that he’s right.
We’re going to lose a lot of good people. The software companies are still hiring and are, in fact, growing. They’ll just go there.
Me? Well I’ll stay here, I like my job. However, I’m going to shove as much money into my savings as I can so that, just in case, I’ll have something to hold onto.
© Fizz 2009