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My employer has recently terminated raises across the board, with no reinstatement planned, replacing it with a "bonus" program for work quantity, not quality. My boss has hinted that it is nowhere near the amount of a raise. A few months ago they cut 401k benefits and added an hour onto our work day bringing it up to 8. It was also stated that "coming in and doing the normal" isn't going to cut it anymore.

This all happened shortly after I was hired, within 6 mos.

Is this a sign of financial problems for the company? Or just poor planning on the executive side?

By poor planning I mean, within a few months of each other they have taken away a decent chunk of income for their employees. I can see maybe wait two years between cuts to lessen the blow but it's kind of all at once here which is bad for morale.

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    Update your resume and get it out, the company is almost certainly in financial trouble – Retired Codger Jun 23 '17 at 20:40
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    It is impossible for us to give the reasoning for your company making this change. All you can do is decide whether you want to continue working under that deal, or go looking for a better deal somewhere else. – Seth R Jun 23 '17 at 20:50
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    Stop reading this answer, and update your resume instead. You need to get out now. – PeteCon Jun 23 '17 at 20:51
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    Yes, you might have been one of the last rats to board the ship, but that does not mean yous should be one of the last to abandon it. Get yourself our while there is still a ship to abandon. – dlb Jun 23 '17 at 21:38
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    You should show loyalty and stick with .. no, just joking! Good luck at your next company. – Fattie Jun 24 '17 at 12:22
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My employer has recently terminated raises across the board, with no reinstatement planned, replacing it with a "bonus" program for work quantity, not quality.

I could have stopped reading right there. Even if this isn't a death knell for the company, if you have the opportunity to work elsewhere you should definitely explore other opportunities.

Morale will most certainly fall, and the workers most capable of working in better conditions now have a very good reason to do so, probably exacerbating existing problems within the company. Tailspin.

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    The ship is sinking, the OP just doesn't know it yet. – DLS3141 Jun 24 '17 at 0:19
  • OP was probably hired to try to plug a leak in the ship that was created when someone else saw it was sinking and left (creating a bigger hole in the process.) We sure do love naval analogies don't we... – corsiKa Jun 24 '17 at 20:40
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    Nothing more need be said. there is no way on earth that this could be good news. – Retired Codger Jun 26 '17 at 12:33
  • I stuck out a sinking ship way too long. Unless there is some great skill opportunity here, it's time to realize that it is time to move on. Later in your career when people ask about the short stint, you can be honest, you were hired into a company that was having financial difficulties. – Bill Leeper Jun 26 '17 at 13:35

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