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How is your company coping?

March 3, 2009

Been talking to a few people on both sides of the causeway about how their companies are taking the hit.

These are the top 17 things that keep coming up.

  1. All training and seminars canceled.
  2. No overseas trips unless you are senior management.
  3. Annual dinner or company trip canceled.
  4. All recruitment stopped.
  5. Employment contracts not renewed.
  6. Staff perks like free coffee gone.
  7. Expense accounts slashed.
  8. Non-sales staff asked to do sales.
  9. Asset sell-off, like idle company vans.
  10. Advertising expenses slashed.
  11. Salary or allowance cuts.
  12. Staff asked to multi-task.
  13. Dialouts to cellphones thru company line disabled.
  14. CSR (corporate social responsibility) programs ditched.
  15. Salaries paid late.
  16. Retrenchment.
  17. Boss ran away.

How’s your company coping?

7 Comments leave one →
  1. March 3, 2009 1:43 pm

    so far so good. jz no bonus πŸ™‚ surprisingly…but yeah. hahaha. and i’m glad !

    Too bad u don’t work at Merril Lynch. You’d get a bonus even if your co loses everything! πŸ˜€

  2. LC Teh permalink
    March 3, 2009 2:23 pm

    Huh… Looks like we’re still pretty healthy. Or is it blur?

    #4 implemented. #5 considered (still need experienced staff to carry on business). No OT. Boss will probably be the last to run away… heheheh

    Looks like you are one of the lucky ones. πŸ™‚

  3. Dee permalink
    March 3, 2009 4:33 pm

    Surviving, although we’re trying to ‘save’ as much as possible. Cost cutting is definitely the main agenda. We’re constantly keeping our fingers crossed, only thing is we’re non-profitable. LOL.

    Hey Dee, yeah its either raise sales or cut cost. Lets hope this blows over soon enough.

  4. March 3, 2009 11:23 pm

    #2 is pathetic. It will be more appropriate if they said “only customer related travel is permitted”.

    One company I’m familiar with tried as far dusting off their old video conferencing set to avoid travel. I don’t think it worked though.

  5. LC Teh permalink
    March 4, 2009 8:30 am

    I can’t decide between lucky or unlucky. They’ve run out of challenges to throw at me except some repeat issues and boring paperwork. (I’d rather watch my brushes and guitar brush up and string one another…lol). Besides, it still looks like they haven’t touch bottom. So, on this side of the globe maybe the worst is yet to come?

    Oh it’ll come alright. Its only a matter of when.

  6. March 4, 2009 9:21 am

    During lunch time, all air-cond & lights must be off, pc are optional but encouraged to off too.. well my company is doing quite well just that they want to cut some cost

    Yeah, electricity savings is usually one of the easiest to achieve and the least intrusive.

  7. LC Teh permalink
    March 4, 2009 9:38 am

    I assume they haven’t touch bottom because more bad news still coming in.

    Denso and a few other major suppliers have shed off workers in the US. I haven’t heard much about Continental, I suppose most of the parts are used outside the US so the effects won’t be so immediate.

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