Orix Employee Cries Out Loud
We need your help!
The employees of ORIX Financial Services, Inc. (Kennesaw, GA) are in turmoil!
We read and follow the leasing news and have for some time. I'm unsure who
your contact(s) are, but the info so far has been right on the money!
Many of the events that have transpired in the company for the past year were news to the employees. Well, all that "didn't" follow the Leasing News.
The employees are not being told "ANYTHING." So many are jumping ship out of the pure "fear" of the unknown.
We've heard everything from "Today's the day" (the day the majority of us get our walking papers); Feb. 28th's the day; It will happen in March;
We all read the Leasing News "Every Day." Looking for some small tidbit of
conforming info to support the rumors flooding the office.
This is a fact: TownPark, the landlord of our office building, has been
quoted as telling the other tenants in the same building that "ORIX has notified TownPark that they will be downsizing and leaving one of the three floors currently leased by them by the end of January 2004, and will be totally out of the building by March, 2004. ORIX stated that their company had been sold to another company located in Texas."
The other tenants in the building, we believe, were unaware that ORIX had an office in Dallas, Texas. Therefore, we are almost certain that this info is
fact. Our company has stated "Employees shouldn't listen to office gossip."
Well, true. Gossip is not beneficial. But, ORIX has left it's employees nothing
more to cling too. They are not disputing any rumors nor confirming them.
The employees are sick. Sick, everyday. Nerves are shot. Tempers short. Yet,
work must go on. It's difficult to maintain a productive state of mind when
your future is so unstable, unsure.
We have all lost our respect for the management of this corporation. It's
more like working in the center ring while the monkey's and Lion's put on a show in the two rings beside you. The circus is closing, that we know. We feel it. We believe that it's not just unfair that the employees are the last to
know, we feel that it's "inhuman" the way things are being handled.
We have had NO POSITIVE INFO given to us. ORIX notified it's employees in Kennesaw via a Human Resources meeting last month that there are going to be changes. No specific changes to the future of our company was given. But, the following was:
1.Pension Plan Frozen with an undetermined termination date scheduled for the future.
2. Non vested employees wouldn't have an opportunity to become vested if
employment was terminated prior to the termination date of the Pension Plan. (ORIX will save a lot of money).
3. Upon the date of termination, any employees remaining would become fully vested (if there's any of us left).
4. Job opportunities would be emailed to all employees when newly posted.
(all notifications have only been for positions in the Dallas office).
5. Severance packages were severely cut. What was 4 weeks plus 1-2 weeks
additional pay for every year worked has been reduced to 1 week per every year worked.
A 3 year employee let go last January received 7-8 weeks pay. Now, that same employee is going to receive 3 weeks severance. All points to a "HUGE" layoff.
Our "gray” past Company policy has been revamped to follow the federal laws to a tee. They are leaving no room for a possible lawsuit.
Reduced severance......No Pension........Vacating floors......I suppose were
I think the truth is probably much worse than what the employees are
If the Leasing News receives "any" info that may be informative to the little
guys (we employees), please post it ASAP. At this point, the Leasing News
has been right on target, we look forward to your future articles.
I suppose we are all hanging on for a miracle. But, a confirmation from
someone in the know, good or bad, would be just as helpful to us all.
I'd appreciate your utmost confidentiality regarding this email.
Thank you for your time!
An ORIX Employee.
Fetured on 1/16/2004
Fetured on 1/16/2004