Saturday, March 5, 2016

“It’s a depression” — The disturbing email a Houston CEO sent his soon to be laid off employees These are challenging times for everyone

This is the email that David Little, Chairman and CEO of Houston-based DXP Enterprisessent to his employees to explain why, “due to bank obligations and to continue a positive cash flow profile” the company has to freeze 401(k), why it is cutting pay in some cases as much as 60% and  why many employees are about to lose their jobs in the middle of what is an “oil and gas depression.” It is a disturbing read.

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