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All big corps do this nowadays. And most hold the "we will offshore you" card over employees heads.
Actually going hourly may not be such a bad thing. Cause many corps take advantage of the "salaries" anyway and require 60 hour work weeks. They save $ by not having to pay overtime. Once they go to hourly - you can believe that the corps won't make them work 60 hour weeks anymore.
The problem is corporations are under so much scrutiny from Wall Street to make quarterly numbers they have been reduce to the point of screwing over employees to make their numbers.
Good senior employees are laid off to make numbers, other good employees get fed up and walk, and the corporation over the long term loses because new employees do not have the same knowledge of the company and operations and products. Training new people is very costly.
Executives rotate around so much they do not care. They make their bonus and then the divisions they cut up have to rebuild and pick up the pieces.
I see it all the time.
Just be happy if you still have your job with IBM. "Big Blue" pulled out of Scranton about five years ago and left employees like my father high and dry in a metropolitan area with scarce I/T opportunities. As unethical as it may seem, the company actually made the Scranton branch employees train their Indian replacements. He went from earning $72,000 to earning MUCH less now. It's a disgrace.
The problem is corporations are under so much scrutiny from Wall Street to make quarterly numbers they have been reduce to the point of screwing over employees to make their numbers.
Good senior employees are laid off to make numbers, other good employees get fed up and walk, and the corporation over the long term loses because new employees do not have the same knowledge of the company and operations and products. Training new people is very costly.
Executives rotate around so much they do not care. They make their bonus and then the divisions they cut up have to rebuild and pick up the pieces.
I see it all the time.
Agreed, I've seen this also.
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