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What are some telltale signs that a business might be on the verge of bankruptcy? Also, have you ever worked for a company that went under and did you see it coming?

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I thankfully have never worked for a company that went under while I was still there but I can just share an experience from my friends. They told me that here are some signs: management are enforcing "downsizing", reduced working hours, less office-sponsored extracurricular activities, and not hiring new employees despite being undermanned.

0 ( +0 / -0 )

I did, and it was clear the company was going under. I quit because staying would have meant pulling in more suppliers to go down with us. The company was trying to get out of debt by doubling down, one warning sign.

1 ( +1 / -0 )

Bonus delayed, reduced or not paid at all. Top management keeps telling you everything is great.

6 ( +6 / -0 )

If paychecks are ever late, its a major red flag. As salaries are generally the largest expense for a company, they are the most difficult for companies to maintain when they hit financial difficulties.

6 ( +6 / -0 )

When the boss starts claiming he's the best in everything and says he's paying millions in taxes. And when no bank with any sense will give out loans to the boss, except Deutsche Bank.

7 ( +8 / -1 )

First, bonus are reduced or eliminated. Then the company starts making numerous new rules. If there were occasional parties or the boss would have snacks delivered now and then...that ends. Maybe the bounenkai is clearly reduced to some trays of sushi and lots of fried stuff (if the spread is highly skewed to fried food, the company is really in trouble) or the bounenkai is cancelled.....yeah....not good signs.

1 ( +2 / -1 )

Outsourcing, heavier workload, more equipment failures, staff reductions, and bs messages from the top brass claiming "this year is our best ever". HA!

4 ( +5 / -1 )

I worked in the warehouse. When I started, products were stacked to the ceiling and we had people who's only job was to find the right product for the right order.

Six months later, there were so few products, you could look at the order, look in the warehouse and point. "There it is."

Plus, when I started, delivery trucks were lined up hoping to get loaded or unloaded before 5:00 PM. Six months later, we counted delivery trucks by the week. "Here comes another one!"

Place went belly-up six months after I started. Good severance pay, though, enough for a youngster with an itch to travel.

3 ( +4 / -1 )

Yes, of course I know how that looks like. The bosses smile whole day why you aren’t paid well, keep their lifestyle and go for public funds or other monetary support from banks or private sector creditors with oh so great and loud words, wildly gesturing poses and falsified balance sheets. Until that day of truth....lol

2 ( +2 / -0 )

First, bonus are reduced or eliminated. Then the company starts making numerous new rules. If there were occasional parties or the boss would have snacks delivered now and then...that ends. Maybe the bounenkai is clearly reduced to some trays of sushi and lots of fried stuff (if the spread is highly skewed to fried food, the company is really in trouble) or the bounenkai is cancelled.....yeah....not good signs.

If things get tough, the first thing you do is cut non-essential, discretionary spending. It is not necessarily a sign of bankruptcy.

2 ( +2 / -0 )

I was at NOVA back in 2007(?) when things went south. We were told that our salaries were late due to a "computer glitch". I handed in my resignation three days later and found a new job.

1 ( +3 / -2 )

I handed in my resignation three days later and found a new job.

Still teaching English?

2 ( +2 / -0 )

Still teaching English?

(shudder) Thankfully, no! Now there's an industry which truly is in a race to the bottom.

-2 ( +0 / -2 )

The office is boarded up when you arrive. Somehow you make your way in like a good sarariman and find your computer ripped out of the wall and your desk gutted of all your life's work.

0 ( +0 / -0 )

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