Compensation Plan Review........

[stomachmonkey]

Originally Posted by Instrument 41

Well I got it the rear. Cut my salary by 30% and commission of only 8% on the profit. Take it or leave and that's it. Said it didn't matter what experience I bring the the table, its all based on their budget for the territory. The resume is getting hot.....crap..

Really sorry and that sucks.

Well you know where you stand now.

They in no uncertain terms told you that you should find a new job.

You’ve got 3 months or until end of Q3 before phase 2 which will be layoffs and you will be on the list.

Not trying to stress or bum you out but that’s how this will most likely go.

Take the rest of the week to make a plan, gather your network, get your headspace together, don’t knee jerk this.

Let us know how we can help.

[Por_sha911]

Any time the employer does something ruthless the motto is "It's nothing personal, it's just business". The whole loyalty thing died many decades ago. I will give the company 100% of what they pay for. No more, no less.

Many decades ago, I had an employer that manipulated people into doing extra work for free. The incentive was that if there were layoffs the volunteers would been considered more favorably. When layoffs came, the volunteers got fired anyway. The people who sold the most were spared. Ever since then, when a company asks for sacrifice like extra hours or training someone (which means I make less sales), my answer is "no thank you". It's nothing personal.

I agree with the observation that these cuts are not a good omen. Companies trying to sell will cut vital people because (in the short term) it makes the P&L statement look good.

[Icemaster]

I'm sorry.

This sounds frighteningly similar to what happened to my Dad many years ago. He was also given a take it or leave ultimatum, pulled in counsel who sent the employer (large publishing house) a couple letters and had some chats. There isn't MUCH that could be effectively done about it, like was pointed out earlier it's at-will, BUT the mere hint of lawyering up and sending the message he was ready to throw down was enough for them to sweeten the deal considerably and let him leave on his own terms.

I don't know if that's worth it to you or not, but it couldnt hurt to at least ask someone.

I'm really sorry man.

[Por_sha911]

One more important thought:
If the employer is ruthless and willing to do this now. The company will be emboldened to do it again. Those who stayed are going to be sitting ducks for the next round of intimidation.

Get that resume out there.

[LWJ]

I didn't read all the above posts. But, I can say from personal experience "DON'T SIGN ANYTHING."

I actually trusted a company that I owned a few shares in. I was a partner. And my trust cost me hundreds of thousands if not millions.

Advice: Read everything first. Think on it. There is no urgency.

Good luck. As you suspect, you are probably in for a screwing. Sorry.

[cstreit]

Originally Posted by Instrument 41

what they are doing is putting lipstick on a friggin pig to make things look attractive for a new buyer. They go around buying 3 legged dog companies so it can raise that EBIDA number. Easier to buy weak companies and pull their numbers in to make the entire thing look enticing.

I've seen this play out several times. Creative math to prep for the metrics buyers want to see. Gotta sell fast though as this tends to burn down quick.