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Old 12-13-2012, 05:40 AM   #1
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Corporate Restructuring

My company is "restructuring", I get that they may want to start a fresh new year, but why do they always do this to people at Christmas? IMO it puts a bad taste in everyone's mouth, including the people who survive the restructuring.

I feel really bad for some of my co-workers right now, it's Christmas for Pete's sake!
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Old 12-13-2012, 06:55 AM   #2
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I've always thought that sucked big time also. I've heard it had some thing to do with they way books and benefits are kept. who knows.
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Old 12-13-2012, 07:09 AM   #3
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My sisters pharmaceutical company "restructured" EVERY Christmas for like 5 years. She survived each one until last year when they axed 75% of the company. They do it at Christmas due to how the books are kept/how their fiscal year runs. It sucks.
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Old 12-13-2012, 07:46 AM   #4
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The arses I work for always for the "restructuring" before a holiday. That way they don't have to look the people left in the face for a few days after they do it. We keep laying people off and cutting benefits for all employees except upper management who is running us in the ground all while paying themselves huge bonuses.
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Old 12-13-2012, 08:02 AM   #5
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Usually its because it is the end of the fiscal year. They need/want to start the new fiscal year with the changes in place.

We've had to lay off people during this time. Its not fun for us either. We don't do it to be mean or because we have no heart. It's never an easy decision but unfortunately, the end of the year is when you look back, see how the company did, and have to make decisions for the beginning of the next.
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Old 12-13-2012, 08:27 AM   #6
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Usually its because it is the end of the fiscal year. They need/want to start the new fiscal year with the changes in place.
I was going to say the same thing. If the company is a Dec. 31st year-end, changes that affect the company as a whole usually are done right before the end of the fiscal year.
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Old 12-13-2012, 08:46 AM   #7
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My department is loosing three, and it's the three who have been here the longest. Which probably means they are some of the highest paid. I just think it's a crappy way of doing business, loyalty gets u no where!
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Old 12-13-2012, 09:01 AM   #8
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There is no good day for a downsizing.

We should all know that our paycheck is not a guarantee and plan our budget accordingly. Saving an emergency fund and not spending money not yet earned is a must.
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Old 12-13-2012, 09:03 AM   #9
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The fiscal year end at my company is in July. They are restructuring right now. I think it is effective in January. There are a lot of worried people here hoping they don't lose their jobs. The good thing though is our company is eliminating more managerial positions.
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Old 12-13-2012, 09:12 AM   #10
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Quote:
Originally Posted by Minerva Mouse View Post
My department is loosing three, and it's the three who have been here the longest. Which probably means they are some of the highest paid. I just think it's a crappy way of doing business, loyalty gets u no where!
I am an HR Mgr. Just because someone has been there the longest doesn't mean they are the best employees. Usually during reductions in force, those employees who either are not doing their jobs or who won't be able to absorb a larger work load are let go.

Some companies look at who makes the most but companies also want the best people retained going forward. So you may think your coworkers are great but perhaps the supervisor has had to speak to them about work quality or attendance or attitude.

As for doing reductions in force at Crhistmas, it is uncomfortable for us as well. I have had the discussions with management about whether it is good to tell someone before or after a holiday. One train of thought is it is best to let people know prior to a holiday so they can trim their spending while the other train of thought is to let the employees enjoy the holiday without the bad news hanging over their heads.

Really there is no good time of year to let people go. People have myriad things going on in their lives and the company cannot plan around these events.
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Old 12-13-2012, 09:21 AM   #11
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The fiscal year end at my company is in July. They are restructuring right now. I think it is effective in January. There are a lot of worried people here hoping they don't lose their jobs. The good thing though is our company is eliminating more managerial positions.
You have a fiscal year and a tax year. they want to avoid paying benefits for the next year. I had a strange thing happen to me when I was downsized. My last day was to be Dec 24. At the last minute it was changed to Jan 2 thus I got all my vacation pay for the next year.
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Old 12-13-2012, 09:25 AM   #12
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Quote:
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You have a fiscal year and a tax year. they want to avoid paying benefits for the next year. I had a strange thing happen to me when I was downsized. My last day was to be Dec 24. At the last minute it was changed to Jan 2 thus I got all my vacation pay for the next year.
Comapnies vary as to how their benefits are granted. My company uses an anniversary year roll over. Many companies are moving away from lump sum vacation days (no matter when they are given) because states can require payout of accrued but unused vacation time.

For instance I live in MA and it requires the payment. My company gives you 3.08 vacation hours biweekly while DH receives lump sum on his anniversary. So if he left a week after his anniversary he would receive a year's worth of vacation time. If I left I would only receive the 3.08 hours accrued.
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