Ok, so the vast majority of you don’t care, but this makes for some entertaining irony for the small minority of you who might care. So I started working for this firm last fall that works in affordable housing (don’t be fooled–there’s massive sums to be made in this industry). However, while I learned a lot at this company and the firm’s name has helped me, this company was poorly managed, the employees were treated poorly, and the firm renegged on many of its fundamental promises. To top it off, the firm renegged on its no layoff policy and laid off a huge number of its employees, and nearly all of its junior level employees, of which I was one (and I was none too happy with the way my manager treated me on layoff day). Layoffs were due to the fact that the tax credit industry has suffered major setbacks in the last 3 or 4 months (but also to my firm’s foolish hyper-specialization and continued resistence to diversification, in spite of years of employee pleas). So, 13 days after being laid off, I’m offered a job for about 28 percent more than I was making before with the biggest player on earth in affordable housing. In fact, the company that just offered me is my former firm’s SECOND biggest client. The most poignant irony is the fact that, as 1 of 8 members of this company’s affordable housing team, I will have considerable sway over the survival or dissolution of my former employer. Oh, and I still have 2 1/2 weeks of severance pay and my commute time is cut by about 60%. Haha. BUT, truth be told, I’m not going to seek any revenge (better to not burn bridges), but it’s just nice to know that I have that power. Wow, this has been a crazy 18 months!
Hey, I DO care and that’s a great story for you! Congrats on the new position. I can completely relate, especially to the “poorly managed, the employees were treated poorly, and the firm renegged on many of its fundamental promises” part.
It sounds like the new company is great for you. Congratulations!
Thats good work KKent. Willy
Thataboy K. Glad to hear things are going well.
Ahhh … karma Good to hear
I hope I get to dole out some pain for my current shop this week. Gonna be great giving them the big “FU”. Willy
Congrats. The Blacksburg training is no joke.
what’s a “no layoff policy”?
No layoff policy – a policy instituted by management that gives employees a false sense of security in their employment situation. It is typically instituted under two circumstances. 1) Management deceives employees by making a promise (to boost morale, reduce turnover, etc.) it know it can’t or doesn’t need to keep or 2) Management is delusional in believing that business conditions could never get bad enough to warrant a layoff.