Yeah, just before the recession hit, my employer was doing that, despite profits being sky high. They made the Inc. 5000 list with 263.2% growth.
Then they let me go because they found someone who would work cheaper, and I was pretty cheap. I even trained the guy, lol.
He quit about three or four months later.
But now, I have a better paying job, with less stress, and more respect. Totally different industry, though.
Unless they make some serious changes, I don't think my former employer will last - it makes no sense to fire your best employees to avoid paying out well deserved raises. Yeah, you save lots of cash short term, but service quality suffers in the long term.
