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peppertree

peppertree's Journal
peppertree's Journal
January 30, 2023

'You Cut My Paycheck, Watch What Happens'

Company misses yearly $925 million target, corporate furloughs employees to cut expenses, leading to malicious compliance.

Companies are out here making millions in profits (but not enough millions) and still manage to screech like a toddler who is upset about the color of a lollipop.

So, what to do when you're sitting up on your high horse in corporate, and your company is going to miss their annual target of nearly one billion dollars by exactly $75 mil? Who is gonna pay for your third beach house in the Maldives? Action must be taken!

One man shared his experience via Reddit, working for a Fortune 100 oil and gas tech company that took it upon themselves to cut everyone's paycheck by 10%.

They didn't take into account human nature, because this industry had a lot of very educated, talented, and dedicated scientists and engineers.

As ‘Mr. Incredible’ explained:

Everyone quit working unpaid overtime and only worked 36 hours to the minute. And any time something happened on a Friday, sorry, there's no one here to help.

Come September, summer hours end and everyone is leaving after lunch on Friday.

But it gets worse:

Older people decided retiring for 80% was better than working for 90% and retired - and because it was specialized they were very, very hard to replace.

Originally the program was supposed to save the company $17M; they lost way way more than that in lost productivity.

At: https://www.msn.com/en-us/money/smallbusiness/you-cut-my-paycheck-watch-what-happens-company-misses-yearly-925-million-target-corporate-furloughs-employees-to-cut-expenses-leading-to-malicious-compliance/ar-AA16SoDQ

January 15, 2023

Argentina sees prices almost doubling last year

Argentina saw prices almost double last year as the country's annual inflation rate hit its highest level in more than 30 years.

Official figures show consumer prices jumped by 94.8% in the 12 months to the end of December.

It marks the South American country's fastest annual pace of inflation since October 1991 - when the country was emerging from a bout of hyperinflation.

Last year Argentina's Central Bank raised its main rate of interest from 38%, to 75%, as it tries to rein in the soaring cost of living.

On a monthly basis, Argentina's monthly inflation rate stood at 5.1% in December.

The monthly figure marks a small victory for the government of President Alberto Fernández as the country's official inflation rate remains below the peak of 7.4% in July.

At: https://www.bbc.com/news/business-64258488



"Fair Price" placards festoon a supermarket in La Plata, Argentina, the day of the program's introduction by Economy Minister Sergio Massa on December 1.

The program - a price truce agreed on with leading retailers on 1,900 popular items - helped keep inflation for all of 2022 at just under 100%.

The 94.8% rate was, however, the highest in 31 years - and polls show that re-election chances for President Alberto Fernández, despite a vigorous recovery from the inherited "Macrisis" as well as the pandemic, are suffering as a result.

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