
Published on October 4, 2007
My elder brother (call him "Thong") was laid off too. He decided to invest all the money he received in his own company. He didn't have enough, so he asked me for mine too. My husband agreed with him, so I let him have everything we had.
I help Thong out in his office every day. I'm also an accountant, so I do his tax returns every year. I know how well the company is doing.
Now the economy is going down, and the company is affected. I know Thong will have to downsize by letting some of his staff go.
When my brother first started his company, he hired a guy (call him "Ouan") he had known in primary school. They weren't close friends, but my brother liked Ouan's personal skills. My brother thought that he needed someone like Ouan for the new company.
My brother persuaded him to leave his job and join the new company. Although Ouan was not familiar with the work, my brother felt that he could "learn on the job". At that time, he promised Ouan that he would always have a job. I guess he wanted to make Ouan as comfortable as possible.
Now my brother admits that Ouan hasn't really tried to learn the business. Sometimes he makes bad mistakes that cost the company lots of money.
Our cash flow needs to improve. I think we could find someone to replace Ouan at a lower salary, but my brother doesn't agree. He wants to keep his promise.
Please help me to persuade my brother to let this man go.
Younger Sister
Dear Younger,
You may be correct that Ouan is a weak employee. I wonder if you and your brother made any agreements when you let him have your money or if you have received anything in return over the past 10 years? Apparently your brother feels that the company belongs to him and not you.
I've always felt that letting employees go should be a last resort.
Perhaps you and your brother should consider other avenues to improve cash flow.
Problems that Melanee can advise you on? Fax (02) 751 4446 or
e-mail her at: melaneepetra@hotmail.com.
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