Just attended the company presentation last Monday. It is extraordinary the company to have company briefing before Q1 of 2009. But, anything can happen anytime and anywhere. A solid example is, none of the leftover 2008 annual leave could be refunded as salary after a very SUDDEN memo released by the HR department!
This company briefing is undoubtedly having "financial" smell. As usual, it was presented by the CEO of the company. In this briefing, he presented the performance of both companies. Again, Synthomer contributed the most earnings in 2008. However, the figure was still great far away from the targeted value. Overall, the companies' performance was not "so bad" last year due to the economic recession happened in September 2008.
Apart from that, he also announced that the management will be implementing all kinds of "cost saving" measures in 2009 and thus it will be a hard year ahead. As for others, there will be a MODEST increase for the employees, starting from January for executive and staff levels. For managers and above, the increment will only be effective after April 2009. Bonus, yeah, there will be, however, likely to be SMALL! Sigh.... Moreover, a total plant shutdown during the CNY week will also be implemented. Following of this, the employees are, of course, forced to take leave during the week....
In a nutshell, this presentation can be concluded with 6 words: cut cost, modest increase, small bonus
This company briefing is undoubtedly having "financial" smell. As usual, it was presented by the CEO of the company. In this briefing, he presented the performance of both companies. Again, Synthomer contributed the most earnings in 2008. However, the figure was still great far away from the targeted value. Overall, the companies' performance was not "so bad" last year due to the economic recession happened in September 2008.
Apart from that, he also announced that the management will be implementing all kinds of "cost saving" measures in 2009 and thus it will be a hard year ahead. As for others, there will be a MODEST increase for the employees, starting from January for executive and staff levels. For managers and above, the increment will only be effective after April 2009. Bonus, yeah, there will be, however, likely to be SMALL! Sigh.... Moreover, a total plant shutdown during the CNY week will also be implemented. Following of this, the employees are, of course, forced to take leave during the week....
In a nutshell, this presentation can be concluded with 6 words: cut cost, modest increase, small bonus
