Quote:
Originally Posted by Rusty Heap
Boeing used to be a Family. You said you worked there with PRIDE.
sigh. Follow the Money, and large corporations are simply about increasing $$$ in quarterly returns.
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It's really not the corporation's fault. Through the 80's, 90's, and 2000's, large institutional investors (hedge funds, pensions, mutual funds, CALPERS in particular) took large stakes in corporations. They voted their shares to put their people on the boards, and their people wanted short term gains at all costs. The will fire uncooperative CEOs. Now we are essentially in a cycle where a CEO lasts 2-5 years, and the fact that they sacrificed long-term gains for short-term profit will eventually be the reason for their dismissal. Then a "turnaorund expert" CEO is brought in to fix the messes that were made to appease institutional investors. Rinse and repeat. This is the world we are in.
I took a job with a nonpublic company to avoid this mess. And it worked...for awhile. The long time CEO retired and the company man who replaced him wanted to do what everyone else was doing. He cleaned out management, initiated mass layoffs, and now everything is a short term decision and we all feel disposable. We used to be a 9-5 company in recognition that employees have families and lives, but now I'm expected to be available 24x7. No extra compensation is given, but you get a lower rating (raise) for not giving the company first crack at your time. I find myself working long hours and having to take vacation time to sleep. (Work a full day, work overnight, and find myself needing to sleep the next morning, but I have to "miss" work the next day to do so.) The big conflict I have now is that I can't take vacation time to miss uncompensated overtime work so that I can attend my kid's events. I'm just expected to be there and there's nothing I can do about it. The thing is, most of this after hours work is very unproductive. We generally end up chasing our tails until we can get a hold of some person the next day.