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Re: How many worthless stock options do yo

Subject: Re: How many worthless stock options do yo
From: Bruce Byfield <bbyfield -at- axionet -dot- com>
To: "TECHWR-L" <techwr-l -at- lists -dot- raycomm -dot- com>
Date: Sun, 23 Sep 2001 18:41:23 -0700

Peter wrote:
>

During the last recession another company
had a meeting in which the entire workforce of about 50 were told that
the company was in trouble. If they all, including the owner, took a
reduction in pay there would be enough capital to pull the company
through the crisis. If sales reached a certain level the cut would be
restored. A schedules of increases in pay keyed to levels of sales was
established. The workforce went along with the deal, the company pulled
through and salaries were paid in accordance with the agreement.


That sounds like an enlightened employer, to take a cut along with everyone else. I only wish that people like that were more common.

Unfortunately, the request for a cut is far more likely not to include the the owner - and to be one of the first steps in the movement towards bankruptcy. Worse, if employees continue to work at the reduced salary, their employment benefits may be reduced when the company tanks, since (in British Columbia, anyway), they're based on your salary for the last few months of work.

--
Bruce Byfield 604.421.7177 bbyfield -at- axionet -dot- com

"Waiting for the ferry, tickets in their hand
Good people that were never out of sight of land
Waiting for the ferry, tickets in their hand
Good people that you knew would never understand."
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Follow-Ups:

References:
Re: How many worthless stock options do yo: From: Marilynne Smith
Re: How many worthless stock options do yo: From: Sabahat Ashraf
Re: How many worthless stock options do yo: From: Bruce Byfield
Re: How many worthless stock options do yo: From: Peter
Re: How many worthless stock options do yo: From: Bruce Byfield
Re: How many worthless stock options do yo: From: Peter

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