Your company loses 450 million....do you stay? - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

PHXLT1 · 06-30-2014, 08:28 AM

As the title states. My company as a whole has recorded a 450 million loss in 5 years. This company is.big but no company can continue to lose this much money and keep their doors open. I have been receiving emails regarding many cut backs as well as management restructuring (I.e. layoffs). A couple of manufacturing plants have been shut down. As a part of lower management I'm in weekly production meetings and the news is not always good. Would you stay and hope things turn around or move on? I've already made my decision but wanted to hear your thoughts.

Robvas · 06-30-2014, 08:38 AM

There's a few ways of looking at it. If you stuck around until things got better, I could see you being promoted later on - not because you stuck it out but because you'd have more experience than people that were left and in theory there'd be less employees (also competition for promotion) then before.

But if they start dropping benefits and cutting hours, and you don't have any chance of getting a severance package, then leave. Or if you think it will be very hard for you to find another job if you're let go, don't wait until they decide - make the first move.

LBreezie · 06-30-2014, 08:44 AM

All depends on wages and benefits. If you're alright with getting a small reduction in pay then stay. I would say robvas said it well

*Camaro_Corvette* · 06-30-2014, 08:50 AM

It wouldn't hurt to do some interviews. You don't have to accept any offers, but it will give you more options and freshen up your interview skills for when the inevitable happens.

MMC · 06-30-2014, 10:05 AM

Leave, you will sleep better. I went through this at Kodak.

jrhagen · 06-30-2014, 10:31 AM

It is easier to find a job when you have a job. Find one now while you still can.

stoopid · 06-30-2014, 10:33 AM

Quote:

Originally Posted by jrhagen

It is easier to find a job when you have a job. Find one now while you still can.

Been there, done this (a few times).

Also look at it this way, the longer you wait and the more they layoff, the more people with similar background to yours enter the job market ahead of you. Get while the getting is (hopefully) still good.

nyrfan · 06-30-2014, 10:40 AM

Quote:

Originally Posted by jrhagen

It is easier to find a job when you have a job. Find one now while you still can.

Agreed.

Mutant Racer · 06-30-2014, 12:01 PM

Be careful testing those waters PHXLT1. If your current employer finds out you are looking for work somewhere else not only will they get rid of you for sure but they'll burn you behind your back.

Now would I stay? No! After 5 years and nothing positive to suggest a turnaround that company is in free fall and doomed.

Camarodriver2 · 06-30-2014, 12:05 PM

Hopefully upper management isn't a member here. :-)
Find a good company with growth goals and work harder for them.

*Camaro_Corvette* · 06-30-2014, 12:21 PM

Quote:

Originally Posted by Mutant Racer

Be careful testing those waters PHXLT1. If your current employer finds out you are looking for work somewhere else not only will they get rid of you for sure but they'll burn you behind your back.

Now would I stay? No! After 5 years and nothing positive to suggest a turnaround that company is in free fall and doomed.

Yep, you got to be smart.

Quote:

Originally Posted by Camarodriver2

Hopefully upper management isn't a member here. :-)
Find a good company with growth goals and work harder for them.

I guarentee you upper management is probably doing the same thing. Honestly, if they are not hammering out a new 5 - 10 year turnaround plan or they haven't implemented one already, then it's time to think very seriously on what direction you as an employee needs to go. Not knowing anything about this company other than what the OP has told us, I would say it's time to consider other options. Another thing I would consider is the OP's age, but that's not known information.

PHXLT1 · 06-30-2014, 02:11 PM

Well truth be told, I am not job hunting. I like (not love) my job and I make a good living doing it. I would be lying if I said the thought did not cross my mind. Anyone with a Mortgage, car payment, utilities, wife, kids and the need to eat would. I'm going to try and ride out the storm but be ready should this boat sink.

JasonK · 06-30-2014, 02:33 PM

Better hope your employer doesn't ready this forum, or you might be next.

PHXLT1 · 06-30-2014, 03:22 PM

Quote:

Originally Posted by JasonK

Better hope your employer doesn't ready this forum, or you might be next.

I doubt it. None of them are into cars. Not as a hobby anyway. Besides I've said nothing wrong or negative. I don't want to start a new job but I'm certain they are worried too.

06-30-2014, 08:28 AM	#1
PHXLT1 Drives: black Z28 Join Date: Apr 2013 Location: el mirage Posts: 1,323	Your company loses 450 million....do you stay? As the title states. My company as a whole has recorded a 450 million loss in 5 years. This company is.big but no company can continue to lose this much money and keep their doors open. I have been receiving emails regarding many cut backs as well as management restructuring (I.e. layoffs). A couple of manufacturing plants have been shut down. As a part of lower management I'm in weekly production meetings and the news is not always good. Would you stay and hope things turn around or move on? I've already made my decision but wanted to hear your thoughts. __________________ My family 1994 Z28 (mine) 2015 Camaro (wife's) 2015 Silverado (mine!) 54 Belair (wife's) 2004 silverado (daughters)

06-30-2014, 08:50 AM	#4
Camaro_Corvette 36.58625, -121.7568 Drives: Team 1LE Join Date: Mar 2008 Location: Earth Posts: 23,709 View My Garage	It wouldn't hurt to do some interviews. You don't have to accept any offers, but it will give you more options and freshen up your interview skills for when the inevitable happens. __________________ I am seriously never serious vv V vv Next order of business

06-30-2014, 10:05 AM	#5
MMC Drives: CGM 2SS/RS, 1987 & 2014 Silverado Join Date: Oct 2010 Location: Spencerport, NY Posts: 1,012	Leave, you will sleep better. I went through this at Kodak. __________________

06-30-2014, 12:05 PM	#10
Camarodriver2 Drives: FOR SALE! Bumblebee 1 of 1 Join Date: May 2010 Location: Geneva IL Posts: 530 View My Garage	Hopefully upper management isn't a member here. :-) Find a good company with growth goals and work harder for them. __________________ My 1 of 1 Bumblebee: Paint=House of Kolor Sunrise. Shaved door handles and concept handles added. Shark fin removed, concept mirrors, Showstoppers concept LED side marker lights. Wiper blades removed, muffler delete, and Range AFM disable. BMR springs lowered 1" rear and 1.4" front and added Eibach wheel spacers - 20mm rear and 25mm front.

06-30-2014, 02:11 PM	#12
PHXLT1 Drives: black Z28 Join Date: Apr 2013 Location: el mirage Posts: 1,323	Well truth be told, I am not job hunting. I like (not love) my job and I make a good living doing it. I would be lying if I said the thought did not cross my mind. Anyone with a Mortgage, car payment, utilities, wife, kids and the need to eat would. I'm going to try and ride out the storm but be ready should this boat sink. __________________ My family 1994 Z28 (mine) 2015 Camaro (wife's) 2015 Silverado (mine!) 54 Belair (wife's) 2004 silverado (daughters)

06-30-2014, 08:38 AM	#2
Robvas Drives: G8 Join Date: Apr 2014 Location: MI Posts: 28	There's a few ways of looking at it. If you stuck around until things got better, I could see you being promoted later on - not because you stuck it out but because you'd have more experience than people that were left and in theory there'd be less employees (also competition for promotion) then before. But if they start dropping benefits and cutting hours, and you don't have any chance of getting a severance package, then leave. Or if you think it will be very hard for you to find another job if you're let go, don't wait until they decide - make the first move.

06-30-2014, 08:44 AM	#3
LBreezie Drives: 2012 Camaro 45th anniversary Join Date: Sep 2012 Location: PA Posts: 1,027 View My Garage	All depends on wages and benefits. If you're alright with getting a small reduction in pay then stay. I would say robvas said it well

06-30-2014, 10:31 AM	#6
jrhagen Banned Drives: Camaro Join Date: Mar 2013 Location: USA Posts: 2,701	It is easier to find a job when you have a job. Find one now while you still can.

06-30-2014, 12:01 PM	#9
Mutant Racer Drives: 2015 2LT Torch Red C7 Stingray Join Date: Jul 2012 Location: Chicago Posts: 1,807 View My Garage	Be careful testing those waters PHXLT1. If your current employer finds out you are looking for work somewhere else not only will they get rid of you for sure but they'll burn you behind your back. Now would I stay? No! After 5 years and nothing positive to suggest a turnaround that company is in free fall and doomed.

06-30-2014, 02:33 PM	#13
JasonK Drives: 2010 Camaro Join Date: Aug 2010 Location: Topeka, Kansas Posts: 713 View My Garage	Better hope your employer doesn't ready this forum, or you might be next.