Bear market? How will it affect your company?

[errhine]

I wonder if the owner had done business with my dad's company. The only thing the employees lost during the time of my anecdote was overtime - normally 8 hours on Saturday for a 24/5 company and about 50% of employees had been working the voluntary OT.

My Management has decided to take the opposite approach to a slowdown. All salaried personnel are unaffected in terms of pay, and all hourly personnel have to participate in a 'Work Share' program designed to cut 20% of the labor costs. In my case its better then being laid off, but its upsetting to see upper management still living high on the hog and some of the production personnel dragging their feet so they can collect double time over the weekend.

 

[Wes Bucey]

My Management has decided to take the opposite approach to a slowdown. All salaried personnel are unaffected in terms of pay, and all hourly personnel have to participate in a 'Work Share' program designed to cut 20% of the labor costs. In my case its better then being laid off, but its upsetting to see upper management still living high on the hog and some of the production personnel dragging their feet so they can collect double time over the weekend.

Yep. It is a truism that such managers owe their shortsightedness to the lack of a FMEA (Failure Mode & Effects Analysis) on the "What ifs" inherent in the situation!