Author Topic: Employees asked to take thier vacations  (Read 310 times)

Offline Getback

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Employees asked to take thier vacations
« on: March 30, 2008, 12:51:11 AM »
Some friends of mine where I use to work are being asked to take thier vacations earlier than otherwise planned. I have thought about this for the longest time. The company in which I am referring had 3 owners in the 6 years I was there and no one was asked to take thier vacation early. So if they are being sold I started wondering why. There are rumors to that effect and several senior level employees have left. Being an accountant, this is what I am thinking. That vacation accrual is a liability to a future company that plans to lay off employees. Now if the employees take their vacation there is no accrual and thus no liability. It either makes the company cheaper to buy or allows the owners reap greater profits on the sale.  Now I don't know everything about this type of thing so if anyone has some thoughts they would be welcome. Is there something I'm missing here? Any similar experiences?

Thank you in advance.

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Offline texasmom

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Re: Employees asked to take thier vacations
« Reply #1 on: March 30, 2008, 12:53:56 AM »
Definitely sounds that way. If those employees also have accrued sick/personal time, that can be used first though, since that is usually the use or lose leave.  :aok
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Offline MORAY37

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Re: Employees asked to take thier vacations
« Reply #2 on: March 30, 2008, 01:02:40 AM »
Some friends of mine where I use to work are being asked to take thier vacations earlier than otherwise planned. I have thought about this for the longest time. The company in which I am referring had 3 owners in the 6 years I was there and no one was asked to take thier vacation early. So if they are being sold I started wondering why. There are rumors to that effect and several senior level employees have left. Being an accountant, this is what I am thinking. That vacation accrual is a liability to a future company that plans to lay off employees. Now if the employees take their vacation there is no accrual and thus no liability. It either makes the company cheaper to buy or allows the owners reap greater profits on the sale.  Now I don't know everything about this type of thing so if anyone has some thoughts they would be welcome. Is there something I'm missing here? Any similar experiences?

Thank you in advance.

Yup.  If it's a publically traded stock, you have issues.

  If it's not, it's being shopped around and vacation is a liability to a new owner....an owner that may be looking to really change everything.
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Offline Getback

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Re: Employees asked to take thier vacations
« Reply #3 on: March 30, 2008, 09:22:54 AM »
Thanks folks.

You wouldn't have believed this company when I was first hired. It was like finding the lost city of gold. You would have thought the Politicians would be hanging out all over that place with there hands out. Then this last sale they changed managers. The company these managers were charge of previously was near bankruptcy when that company was sold. This company is, I believe, near bankruptcy too.

I was harrassed into leaving. It was awful. My sin I caught the president of the company cheating on his wife. It's somewhat interesting how it happened. I use to go into work on Saturdays to catch up on projects or to get ahead. When I went to work on Saturdays I dressed in old blue jeans. Our president was MR GQ. He came in one Saturday with his family and there I was in holey blue jeans and a dirty sweatshirt. So I left to avoid embarrassment. That Monday he asked my manager why I left so quickly and what I was up to. I told them I was dressed so poorly and that I was embarrassed about it. They laughed because they knew I was being truthful.

About a month later during close I had a bunch of work to do so I thought I would go in on Saturday. This time though since I didn't want to dress in my work clothes I thought I would go in at night. So after finishing a couple of projects and feeling good I hear some laughter coming from the back. Well, I recognize the one voice as being our president. I thought, well I don't want to appear looking improper again so I went back to tell him I was there and getting ready to leave. I go back to his office only to catch him with a woman that wasn't his wife. His face turned bright red. From that point on I was harrassed daily. They took away my tuition, I submitted a suggestion that saved them over 65k a year and received no award and the list goes on. Ironically, this woman then starts teaching us MS Office. Uh, that was strange because we were pretty darn good at it. I think a little hanky panky was going on. It doesn't stop there. Another friend of mine was wondering why one of the execs is keeping a motorhome in the parking lot. She goes out there to see why they have it there and guess who is there. The same woman I caught with the president and the Sales exec.

That sales exec is soon fired. And I think in another rampage the president fires almost all the sales staff. I'm not totally sure why though. That was right after we had the Most sales in the companies history and the largest margin of profit ever. After that it's been down hill. The next year sales drop by 15% and the next year I estimate by the same margin. Now they are struggling to pay the bills. They have shut down two plants "Temporarily". (They have 5)

When you have all those irate Salesman, with many many years of experience, you get worked over. They publically said they would sink the company and they are.

There is much much more. I'm writing a book about it. It is amazing stuff. I think I may name the book "A Business Affair".

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Offline Gowan

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Re: Employees asked to take thier vacations
« Reply #4 on: March 30, 2008, 06:11:01 PM »
Thanks folks.

You wouldn't have believed this company when I was first hired. It was like finding the lost city of gold. You would have thought the Politicians would be hanging out all over that place with there hands out. Then this last sale they changed managers. The company these managers were charge of previously was near bankruptcy when that company was sold. This company is, I believe, near bankruptcy too.

I was harrassed into leaving. It was awful. My sin I caught the president of the company cheating on his wife. It's somewhat interesting how it happened. I use to go into work on Saturdays to catch up on projects or to get ahead. When I went to work on Saturdays I dressed in old blue jeans. Our president was MR GQ. He came in one Saturday with his family and there I was in holey blue jeans and a dirty sweatshirt. So I left to avoid embarrassment. That Monday he asked my manager why I left so quickly and what I was up to. I told them I was dressed so poorly and that I was embarrassed about it. They laughed because they knew I was being truthful.

About a month later during close I had a bunch of work to do so I thought I would go in on Saturday. This time though since I didn't want to dress in my work clothes I thought I would go in at night. So after finishing a couple of projects and feeling good I hear some laughter coming from the back. Well, I recognize the one voice as being our president. I thought, well I don't want to appear looking improper again so I went back to tell him I was there and getting ready to leave. I go back to his office only to catch him with a woman that wasn't his wife. His face turned bright red. From that point on I was harrassed daily. They took away my tuition, I submitted a suggestion that saved them over 65k a year and received no award and the list goes on. Ironically, this woman then starts teaching us MS Office. Uh, that was strange because we were pretty darn good at it. I think a little hanky panky was going on. It doesn't stop there. Another friend of mine was wondering why one of the execs is keeping a motorhome in the parking lot. She goes out there to see why they have it there and guess who is there. The same woman I caught with the president and the Sales exec.

That sales exec is soon fired. And I think in another rampage the president fires almost all the sales staff. I'm not totally sure why though. That was right after we had the Most sales in the companies history and the largest margin of profit ever. After that it's been down hill. The next year sales drop by 15% and the next year I estimate by the same margin. Now they are struggling to pay the bills. They have shut down two plants "Temporarily". (They have 5)

When you have all those irate Salesman, with many many years of experience, you get worked over. They publically said they would sink the company and they are.

There is much much more. I'm writing a book about it. It is amazing stuff. I think I may name the book "A Business Affair".

wow.... if you don't work there anymore, call the pres's wife and tell her some "interesting" information