Posting from a throwaway for obvious reasons.
I have a feeling the web consultancy I work for is going down, but I'm not sure whether I'm overreacting. Let me give a basic timeline:
We began as 30 people. In the middle of last year, an organizational psychologist was hired to establish a set of core values.
One person was promptly fired for violating those core values, despite being one of the best developers on the team. Two people then left, both to work at much larger companies.
Near the end of the year, a business consultant was called in to try to restructure the company to be more hierarchical and focused on quarterly performance (presumably to obtain a higher sell value). Then, another senior person was fired, leaving a few projects with loose ends. Several people were promoted to "lead" status, one of whom having no idea what she's doing.
Then, the real fun began: around the beginning of January, all employees were transitioned from salaried to hourly and given equivalent pay + a small raise.
Just when I thought it couldn't get worse, just a few weeks ago, we were told that we wouldn't be able to receive our normal payroll on the normal day due to some delays in client payment. The company was literally unable to pay the remaining 24 or so (hourly, so no overhead) employees.
The company, however, is undergoing rapid growth in terms of client quality and project scope, and some people I've spoken to have told me that this is just a part of the normal growing process. Before all of this began, my experience with the company was wonderful. The same management is still in place, so I'm unsure who's to blame in this situation. The founders have always seemed inexperienced but I'm not entirely sure what caused this collapse (if it's a collapse).
How many of you have encountered something similar? Should I abandon ship and find a new job? If so, any advice on how to part amicably without saying "I feel like I'm on a sinking ship"?