Saturday, 17 October 2009

R.E.O shuts down operations

I’m back! (but maybe not for a long while)

I have been super busy lately. I feel I have no life anymore xD

For months I and my colleagues got the vibe that the company is not doing well. After getting this big project 4 months ago we forgot how bad the situation is and got caught up in work.

September 16, 2009: early Eid gift: The Mexican resigns after giving up on the directors in Dubai. They have been so unsupportive, so negative, so stingy, and worst thing: they keep lying over and over again.

September 26, 2009: The board of directors gets into a very long meeting discussing the resignation of the Mexican and the situation of the company. 3 possible solutions were proposed:

Appointing the COO to be the new CEO.

Appointing a new CEO from Dubai.

Closing down the company.

(Last option is the most likely option they will pick)

October 3, 2009: The directors send an auditor to check all company’s accounts and files. (can it get any more obvious??)

October 4, 2009: CFO flies down from Dubai to give us the hit: R.E.O decides to shut down all its operation due to negative liquidity and insufficient funds. This means that all employees are to be terminated from their jobs!

The news of the company shutting down operations wasn’t as shocking as the fact that the board decided to give us a pity amount as compensation. To be thrown in the streets jobless with so little money isn’t pleasant at all …

Thank god I saved enough money to survive and I have my family to back me up, but what about the others?? Some of my colleagues support 3 families, have couple of loans, and are struggling after the salaries cut. Is it humane to throw them in the street with only a month notice?

October 10, 2009: Chairman Sh. A.M. is back in Oman after a long business trip, TOTALLY unsatisfied with the compensation the directors gave to the employees. He got them to pay us 3 times what they previously promised us. I (and I’m sure all the employees) can’t thank him enough for his support =)

October 10, 2009 – present: Serving my notice period of 1 month, finalizing everything.

I think I can start a whole blog about this closure, probably make a movie out of it, but just wanted to share this part with whoever reads this blog.

I have already received 2 job offers that I need to study and will hopefully start by beginning of November.

End of blog entry…


nosa said...

this is 1 sad post!!

allah y333nkum.. we3een elkel..

inshalah u get a beter job

good luck

Lil Me said...

Whoaa.. that was sudden!

It's great news that you've been compensated enough at the end.. sad how it all ended though..

InshAllah you'll make the right decision in picking your next job.. and hopefully you'll love it =)

All the best Coyoto0!!

Anonymous said...

WOW! I never saw this coming :S.I'm really really sorry to hear that, but in the same time (& I'm sorry to say this) I'm kinda glad it did happen.These guys sucked in everything they could get from you! :S

I'm glad it ended in a better way in the end, bs Mu93ab please be careful and picky this time and dont get toooooo caught up with worrk.You deserve better! =)

Good luck and inshallah this time everything will go smoother and much better than a5er mara =)

Amarant said...

Thanks all for your support =)

Nosa: Thanks, and aaameeen.

snazzy: yah we were all glad when the Chairman came and forced them to pay us more, he put them where they belong =P
thanks and inshallah =D

welllll there isn't anything assuring that the coming job would be easier, but afa 3alaish, this time qabel ma awaqa3 any contract, i'm going to put a list of demands, no more Mr. nice guy =P
thank you so much for the support oo allah yesma3 minnish =)

s a t i r said...

wow! really bad news!
i lost my job to the financial crisis too, finally recovered from it..
u seem to have a good cv though.. and since u already have job offers am sure u'll recover as well..
good luck with it all!

FAITH said...

Trust you already started your new job. Wish you all the best 3amarant

Amarant said...

Satir: well my CV isnt a WOW bas alhamdulilah I got these offers (they are 3 now btw) ;)

Faith: yes I started the new job but nothing official yet, I still can switch if I don't like it here =P