So I work for a large tech company and their 1Q and 2Q numbers have been in the red, as have the past few quarters going back a couple of years. Last quarter they have asked all of our business towers to “make cuts” and “work efficiently” and “reduce unnecessary travel”…yadda yadda. This quarter they asked all towers to look for ways to reduce the work force, because apparently in the Q2 presentation the main reason we're loosing money is because of the “high cost of labor” and have asked groups to reduce workforce and ask for voluntary furloughs. (work 4 days and take a 20% pay cut until January). I found out from talking to my co-workers (I'm fairly new to the company) that they've been through this before. They lay people off, reduce work time and the like, basically to bring people back at lower salaries. One of my co-workers has been there 15 years and still makes under 60k, (and he agreed to be furloughed) while another has been there 20+ years and has been laid off a number of times only to be asked to come back, and still is below 60k. Several managers I worked with have been let go with little to no notice. Apparently I am the only one in my team who makes close to 70k, and have a feeling I may be cut, or forced to take a mandatory furlough next year if “we cant right he ship.”
My question is, if the company is in such trouble, why doesn't our CEO (who makes ~300x the about of he average employee) take a 20% cut? How about he set the example? How about the other execs? I posed this question in the online chat during the Q2 presentation and got no responses–and I know “he is the CEO! he keeps things going!” and all that BS, but still…set the example!. I also asked my manager at our one-on-one if there were any set pay grades or a pay scale for the different positions, and apparently that isn't a thing here, which explains why when I interviewed and named a price for my salary I got it…and probably why so many employees aren't paid well…there is no clear path for working up the pay scale, so to speak…since there isn't one! Even managers who oversee several accounts (5, 7…some a dozen) don't get paid enough…the management structure is terrible and disjointed (from what i hear) and our back end billing is horrific.
Needless to say, I'm ready to jump ship after 8 months at this place, so if anyone knows of any tech openings over 70k, let me know!
PS–thanks for letting me rant, i needed to get this off my chest!