Re: Loyalty cuts

Subject: Re: Loyalty cuts
From: "Gary S. Callison" <huey -at- interaccess -dot- com>
To: "TECHWR-L" <techwr-l -at- lists -dot- raycomm -dot- com>
Date: Wed, 11 Jun 2003 15:48:27 -0500 (CDT)



On Wed, 11 Jun 2003, cornellier1 -at- stavanger -dot- oilfield -dot- slb -dot- com (John
Cornellier) wrote:
> 2003-06-11 14:24:59, eric -dot- dunn -at- ca -dot- transport -dot- bombardier -dot- com wrote:
> | Employees are the first to suffer when the market goes down.
> | Layoffs and benefit cuts come before management or shareholders feel
> | any real pain.
> Lots of bluechip stocks - household names - on the NYSE have seen their
> values cut by 50 per cent in the past few years. For shareholders,
> that's pain.
> Yet I don't believe those same companies have cut worker compensation
> by 50 per cent. Or have they?

The relationship isn't that linear, but it does exist.

WorldCom: (according to their own webpages)
Jan 1999: 77000
Today: 58000

In more than a half-dozen different rounds of layoffs, many of those cuts
were given to management in terms of "lose 10% of your personnel budget",
so a disproportionate number of layoffs were people who had been there
longer and were paid more.

> Don't modern tech companies nowadays realize that one of their biggest
> assets is their employees' brains?

The tech sector downsizing strategy seems to weed out from both ends; you
lay off the incompetent people you were already looking for an excuse to
fire, and you lay off the really talented and expensive people because
you know they were going to stop putting up with all the BS and jump ship
eventually anyways.

--
Huey (if I was a Star Trek character, I'd be "one of 19000") Callison


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