Reply to post: Re: You can't just fire people like that.

User rats out IT team for playing games at work, gets them all fired

Fatman Silver badge

Re: You can't just fire people like that.

I have a friend who works for such a company.

Back in 2010, a 'parasite' found itself on the company's BoD, and in a few short months, drove out the other directors, who were replaced by other 'parasites'.

In September, they arranged to 'force out' the entire executive team that ran the company profitably, and install more parasites in their regional offices.

In September 2011, they had their tickets to the Gravy Train Express1 renewed, riding that train for another year. Repeat in 2012, 2013, 2014 and 2015. All during the while the company was slowly losing money. They hid their losses by mortgaging the company's future receipts (i.e. loaded up on debt), turning an original 96% shareholder equity/4% debt ratio around (4% equity/96% debt). In early 2016, the stockholders pawned off the company in a quiet 'fire sale', because the buyers wanted time to root out the cause of the losses. The new owners contacted the legal firms handling their affairs in each of the more than 50 cities they did business in, and arranged to 'loop in' one key assistant in each regional office to perform much of the 'leg work'. My friend who was an assistant regional COO was contacted, and agreed to assist in ridding the company of the 'parasites'. My friend had to keep knowledge of the ownership change, and their plans to rid the company of the 'parasites' quiet for nearly 6 months all the while doing the necessary digging.

The new owners waited until September 30, 2016 (the last day of the contract) to deliver the bad news. It was delivered by employees of the company appearing at the executives' company housing at 8 AM with moving vans. They carried a message from the owners that said: "YOUR CONTRACT WILL NOT BE RENEWED, and we do not need your services any more. You have 4 hours to get out of company housing."

It was no secret to the office staff that the executives were Milking The Cow, and, some wag decided that a perfect metaphor for the events of September 30, 2016 could be expressed by a drawing of a cow leaving behind a pile of tape worm infested shit. Within an hour or so of its first appearance, that cartoon was scanned and emailed to every other regional office. It was a morale booster.

They are still attempting to determine exactly how bad the losses were, as the executive fools compromised the books, and getting an accurate picture just might involve reviewing all transactions since October 2010. <sarcasm>I know that the office staff would shed loads of crocodile tears should the company bring charges against the executives.</sarcasm>

1 The derogatory term used by the office employees to describe the compensation package, perks and benefits these executives enjoyed. Work from home, company car for both business and personal use, company credit cards often used for personal items, no limit on vacation time, FREE company housing.

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