Layoff's Firings

[TXbroker]

Well the company i've worked for since 4/2001 which was an employee owned company until 11/2005 just closed its 3rd office this year. We are letting 15 people go all together and closing 2 offices by the end of December.

Before we were purchased we would have hunkered down as a company and cut costs and saved jobs.

All this will do is lead to the fall of our parent company as everyone will have one foot out the door.

The freight business is a tough one but the great thing is if you are good there is always another opportunity through the next door.

Luckily I saved myself and my staff. We still have our jobs.

Merry Christmas )(*&)(*^*&*&^%*((*#)(*)($#*)(# in KC

[Banshee34]

Let me guess they had an independent company come in and evaluate how to cut costs, right?

Luckily you and your staff have been spared!

[SCUFFY828]

my wife is a loan officer for a living they just shut her entire branch down today at 12:00 ,no severance package or anything

[TXbroker]

Originally Posted by Banshee34

Let me guess they had an independent company come in and evaluate how to cut costs, right?

Luckily you and your staff have been spared!

No the company that bought us the owner is backed by an investment firm. They wanted 1.2M in EBITDA reduced. They got it.

[Banshee34]

Originally Posted by SCUFFY828

my wife is a loan officer for a living they just shut her entire branch down today at 12:00 ,no severance package or anything

OMG YOU'RE KIDDING!

[Banshee34]

Originally Posted by TXbroker

No the company that bought us the owner is backed by an investment firm. They wanted 1.2M in EBITDA reduced. They got it.

Basically the same thing. They don't think about the employee, just the bottom line.

[TXbroker]

Originally Posted by SCUFFY828

my wife is a loan officer for a living they just shut her entire branch down today at 12:00 ,no severance package or anything

That sucks,

[bmiller2000]

Yeah makes for a Merry Christmas dude. Prayers go out to you and your families. Keep looking up everything happens for a reason, maybe the housing thing is worse than they think and she's out before everybody else. Jumpstart on a new career maybe? Best of luck though.

[sea71]

Dang Scuffy!! Sorry bout that man. Sucks that these things always happen at the start of the holidays. Every dang year. Good Luck!!

[TXbroker]

Company's cut cost at the end of the year to show a strong finish to improve their EBITDA and to show investors a strong move towards an even more profitable next year.

I hate knowing what I know somedays.