Corporate America Sucks (Here's Why)

Corporate America Sucks (Here's Why)


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[alexpurrington]

The problem with corporate America is that everyone is focused on short term profit over long term sustainability

[engineered-mind]

Funny thing is all their websites still display their core values of respect, trust and accountability lol

[shanemathews]

I worked for the biggest car dealership group in Canada and in all the meetings they would always talk about integrity Integrity core value Integrity turns out the management was embezzling money, if someone has to always tell you they have integrity they don't have any

[robertpopa]

The new owner of Barnes & Noble said that the worst descision b&n made was when b&n cut full time positions, as this removed highly experierienced booksellers from the company.
When other members of corporate hinted that the stores might shrink employee numbers again, forgetting that he knew who brought money into the company. A month or two later, upper management was restructured and a lot of unnecessary buyers were let go, shrinking the head shed, not the boots on the ground.

He also took the company private, removing the stock holder pressures

[herbderbler]

My dad worked thirty years for a company that did that every couple years. Lay off 600 people, stock prices go up, then the top dogs all take five and six figure bonuses. Thankfully he never ended up on the chopping block. Wouldn't ya know it, that company is all but gone, parting itself out to buyers one division at a time over the last decade. The people at the top never intended to run the business. They just wanted to milk it for all its worth and then run off to the next predatory venture.

[EddieTownson]

When my boss said I was part of a “family”, didn’t realize it meant the toxic, hateful, backstabbing kind.

[jimdob]

This right here is why several of my families businesses are thriving and have thrived even through Covid. 2 of them are in Washington state and they prioritize their staff and their staffs home life over profits and have found that those same loyal employees that are treated well will try to achieve greater productivity and problem solving skills and increase profits for my uncles. My uncles could increase their salary to 7 figures a year but instead prefer investing into their staff so they don’t have to work very hard themselves. One of them is “soft retiring” at 45 and will be making 200k a year as the owner of his company. Dude works maybe 3 hours a week now because he found the right people and paid them well for it. He is even paying for his receptionists kids to go to local colleges. It’s wild.

[cakepie]

I work at Amazon, I've seen this exact thing. Right now, the season we are in, there isn't much work coming in. We are just after the holidays, coming up to tax season and summer, they laid off like half the people they brought on during the holidays...

And now that things are starting to spin back up again, we don't have nearly enough headcount to get the work out on time and they are missing their daily production quotas, well, daily.

Yeah... I hate it here lol

[erikkovacs]

Circuit City was legendary for its customer service. Their employees were very knowledgeable and helpful. They were also paid well. So they had to go. In their place they hired less knowledgeable lower paid employees and lo and behold profits went up. Flowed shortly by customer traffic going down, then sales, then profits and then came bankruptcy.

[jcb]

This path leads to a scared workforce or one that engages in "malicious compliance" and "quiet-quitting".

[longWriter]

A couple of years ago, the company I work for decided they needed to get lean, so they offered voluntary separation packages for any employees who choose to take them. For context, they aren't publicly traded, so there's no stock price to goose.

This was a much more ethical route. For one thing, it gave employees a real choice, albeit one that included some risk if the employee chose to stay: no one knew how many layoffs, if any, would be needed after everyone who chose to take VSP did so. As it turned out, no layoffs were needed after everyone who chose to take VSP left, but we didn't know would happen that at the time we were making the decisions. But the decisions were real, we were able to see them coming, and they were as transparent as they could be.

[joemurdoch]

Absolutely correct. I've had to learn the hard way that being on time, dedicated, coming in on your day off means nothing when it come time to layoff.

Not only have I been laid off because of a failing stock price, I've had to suffer the consequences of being a salaried manager when they chop payroll to smithereens and you end up stuck at work for 70 - 80 hours.

The problem is that people at corporate have very cushy jobs and they know it. And when those profits or stock prices dissolve, they have to look like they are doing something about it, and they sure as hell aren't going to do it to themselves.

[JeremyBelpoisX]

My local Kroger is cracking down on people taking overtime, even though they fire people left and right without hiring new workers and overwork us to the point where we don't take breaks anymore. My dad thinks I'm lying, lazy, or stupid, but it's happening all around us. This is a toxic environment, and it needs to change.

[jeremyjeremy]

this is why you cannot be dependant on an employer

[mikemcmullin]

Just got my notice of severance. HR head said that they were cutting this second time and admitted that when they get busy, they're screwed, all the talent they let go won't be coming back for a long while if ever. For me that's going to be never.

[FancyRPGCanada]

THANK YOU! Dave is the real one. Big heartless corporations are too short sighted and they suck

[hafezj]

I have to admit, I feel lucky, every time I got laid off or moved to a new job, my wages went up. I think there are a couple of key things to keep in mind, one is mindset, you will find something and it will pay you more, two, don’t buy shit you don’t need, minimize everything. Don’t have cable, keep the cheapest phone, don’t drink/drugs, keep it simple and you will realize how much crap you really don’t need to be happy and then you can set yourself on a new course. Lasty, clean up and organize yourself, meaning the home, the car, your yard, etc. when you get rid of things that are unnecessary, you will give way for new things to come in, sounds crazy—but in a matter of 3 years, I increased my pay by almost 50%. Believe in yourself, sometimes you do have to wait a bit, which is aggravating, but something good will come about.

[Random]

It also burns two of the most important assets a business has: goodwill and reputation.

Intangiable assets such as the knowledge and experience of employees and the productivity that that entails increase the value of the company, though this usually only shows up as a numeric value behind a dollar sign on a balance sheet during acquisitions.

Reputation is pretty obvious. The least shitty company is going to attract the best talent who do the best job.

[Savvyann]

I love the disgust in his voice as he describes this corporate greed.
I met a man at the unemployment office that had put in almost 40 years at Kroger. He was a few months from his pension and retirement when suddenly he was "no longer a good fit" and terminated with zero notice, taking away his full pension. So he'd only receive a fraction of what he deserved. These are the common practices here in "right to work/fire for unethical reasons" states now. Thanks politicians for allowing working Americans to be thrown away/destroyed as yesterday's trash for the benefit of the corporations that donate $$ to you. Our country's quickly spiraling down due to these unethical, greedy politics.

[HistoryGek]

It also makes the remaining staff work their butts off in fear of losing their job. This is how Corporations "encourage" people to work unpaid overtime as staff have to take additional responsibility for roles once staffed by those recently laid off. Everyone wants to keep their job so taking additional work, often unpaid, becomes the norm.