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.