I enjoyed the many benefits the company offered to its employees like profit sharing, medical allowances and cash bonuses. It was on the 6th year of my employment that it experienced financial difficulties not only because of mismanagement but also because of the Peso-dollar inflation. It could no longer pay the loans which were acquired in dollars and some officers who were holding important positions left the company.
Thanks to the bankruptcy attorneys who offered their services. They were able to trouble shoot the root of the financial problem. Cost –cutting was implemented and loans were redirected. The company was also selective in taking projects which are not gaining much and some employees benefits were slashed. After two years, the company was able to rebound and recover its loses.