Working in Polaris gives me an insider view of the company and therefore I am thoroughly surprised over this year end's results.
The surprise is on two accounts:
One, we are clearly struggling to get new projects from existing clients let alone get new clients. In fact the existing clients are cutting back on budgets and the workforce is nervous owing to the uncertainity.
Secondly, though I can't claim through knowledge regarding the entire Polaris revenues, the profits look groovy to me. This is thoroughly disturbing owing to the salary cuts we had to take. In the beginning of the quarter we were treated to all the difficult-market-conditions, uncertain-future and the rest of the recession jargon. In effect we were coerced into accepting a 50% cut in our variable performance pay. This we were told ran across the board and effected all the employees. Why this double standards? When you speak to employees, you say " Company is having problems" and cut salaries. But when you speak to share holders and declare the quarter end results, You show profits. How is this justifiable? The management owes an explanation to us. After all, how can you justify cutting back on salaries to show profits?
The surprise is on two accounts:
One, we are clearly struggling to get new projects from existing clients let alone get new clients. In fact the existing clients are cutting back on budgets and the workforce is nervous owing to the uncertainity.
Secondly, though I can't claim through knowledge regarding the entire Polaris revenues, the profits look groovy to me. This is thoroughly disturbing owing to the salary cuts we had to take. In the beginning of the quarter we were treated to all the difficult-market-conditions, uncertain-future and the rest of the recession jargon. In effect we were coerced into accepting a 50% cut in our variable performance pay. This we were told ran across the board and effected all the employees. Why this double standards? When you speak to employees, you say " Company is having problems" and cut salaries. But when you speak to share holders and declare the quarter end results, You show profits. How is this justifiable? The management owes an explanation to us. After all, how can you justify cutting back on salaries to show profits?
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