Sinking Ship

December 18, 2008 at 11:32 am 3 comments

How do you know if the ship you are on (Your employer) is sinking?

I have the feeling that my ship may be sinking. Evidence.

1. This time last year the company announces that it is appointing a new president.
2. The next day the company announces that it is adding $80 – $100 million to the subsidiary I work for in order to cover obligations that were not planned for.
3. Due to #2 above the stock price goes from a high of $23 in August 2007 to $12 in December of 2007.
4. The company continues to loose money over all three quarters of 2008.
5. Due to #4 Stock Price is now at $4.75.
6. In May the President of our subsidiary is replaced.
7. Management of the company keeps telling us that things are going to get better. This is all by design. We are terminating unprofitable programs.
8. Four subsidiaries are merged into two.
9. Company sells a subsidiary.
10. Company freezes hiring and raises for 2009.

What are your thoughts?

Sinking or Not?

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Entry filed under: Uncategorized.

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3 Comments Add your own

  • 1. Jeff  |  December 20, 2008 at 11:57 am

    Unfortunately time to put on a life jacket.

    Reply
  • 2. Brian  |  December 22, 2008 at 10:59 am

    I tend to agree with Jeff. It’s so hard to say though. Obviously we are living in difficult economic times. So does that mean companies tighten the belt, streamline and “batten down the hatches” and move through the storm.

    Or is the company taking on water and they are just tossing all the weight overboard because there is no way to control the influx of water?

    Either way I would think it is going to be a stormy time. Life vest, rain gear and some Dramamine I think are all in order.

    Reply
  • 3. The Sinking Ship is all but Sunk « Strousenet Blog  |  February 11, 2009 at 4:17 pm

    […] this time instead of the company being sold the company ran out of money. I previously posted here about my fears that my company was going […]

    Reply

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