RE: Loyalty cuts

["Spreadbury, David C." <David -dot- Spreadbury -at- marconi -dot- com>]

In a word, "No". Or at least, "probably not" (okay two words, maybe).

Most companies think only bottom line, and one of the fastest ways to change
the bottom line is through a reduction in force. Granted most don't want to
do this, but that is just how it is. They will try to retain those brains
that they feel should, or must, remain, but still, salary and benefits is a
large piece of a companies expense. Cutting expenses directly affects the
bottom line.

-----Original Message-----
From: John Cornellier [mailto:cornellier1 -at- stavanger -dot- oilfield -dot- slb -dot- com]
Sent: Wednesday, June 11, 2003 7:58 AM
To: TECHWR-L
Subject: Re: Loyalty cuts



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?

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

John Cornellier

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.

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