Interesting article on /. (aka Slashdot) the other day. It wasn’t long, but the discussion got me thinking about the tech sector and how poorly some companies are doing. This segued into how many big companies are handling things.
The article is http://tech.slashdot.org/firehose.pl?op=view&type=story&sid=11/09/17/2237256 (Opens in a new window)
How much oversight is there for big companies. According to NewsWorks.org, Merck reported high profits last year. Yet now they’re planning on laying off 13,000 jobs by 2015. From what I’ve read, the CEO makes wonderful money though. If you want to consider a mere $24mil in 2010 wonderful money (pay rate from FiercePharma.com). Maybe it’s just scraping by for those high paid CEO’s.
Yet from the looks of things, some of these high paid CEOs couldn’t find their butt with both hands and a map. Sorry, but someone needs to regulate what’s being done (and no, I’m not talking more government regulation, let’s try for some self discipline by the companies). If the company is making enough profits to pay their CEO that much money per YEAR, why are they laying off employees 2 years later? Does anyone on the Board of Directors stop to think about who makes the high pay possible? I know some people serve on multiple Boards. Others serve on a Board of Directors in addition to their own full time jobs. Do they have the time to sit down and figure out the budget and look over work load reports?? Do they even bother gathering work load reports? Are they concerned about just the bottom line?
At the company I used to work for, my former coworkers are working 10 and 12 hour days to keep up with the work load. Some were doing it before I left, now everyone is. Yet when I complained about the work load, the department manager kept saying there was a light at the end of the tunnel. I sincerely hope for my friends’ sakes, the light isn’t an oncoming train. Or a hyperactive kid with a glow stick.
In other news, the ice cream truck just passed by, yet it’s thundering and getting ready to pour. I wonder how much business he’s going to get. LOL