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Re: Loyalty cuts

Subject: Re: Loyalty cuts
From: quills -at- airmail -dot- net
To: "TECHWR-L" <techwr-l -at- lists -dot- raycomm -dot- com>
Date: Thu, 12 Jun 2003 22:49:43 -0500


MBNA cut the rates of all contractors by 10% this year, simply because they only made a 19% profit.

Please note that everyone else got their bonus.

Greed, not loyalty.

Considering that about half of their operation is maintained by contractors, they are dancing over dangerous ground. The day that the market turns around, you can bet that a lot of Cobal programmers are going to be asking for more than 10% increases in their compensation.

Scott

At 8:24 AM -0400 6/11/03, eric -dot- dunn -at- ca -dot- transport -dot- bombardier -dot- com wrote:

>>What about the old fashioned concept of loyalty to an organization, for
so long as they keep their commitment to you.

The same thing that happened to company commitment to lifetime employment for
their employees. Paying you a salary for as long as they can be bothered keeping
you is not company loyalty towards employees.

Companies will happily rake in profits hand over fist due to good market
conditions, but good luck getting them to match market salaries when they go up.
And before someone says that employees don't take a cut when the market goes
down, think again. Employees are the first to suffer when the market goes down.
Layoffs and benefit cuts come before management or shareholders feel any real
pain. Most employee hitting cuts these days are to stem dropping profit margins
not to avoid corporate losses.






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Re: Loyalty cuts: From: eric . dunn

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