Wataniya Telecom on the Line
Wataniya Telecom has pulled the same move as Commercial Bank of Kuwait, Fire everyone and rehire, just to lower the costs. So the breakdown of the situation is simple.
They are giving presentations about the changes and open discusssions, for a little while. And a Wataniya Telecom employee has only 4-5 hours to decide if they will sign the new contract with the new terms, or else they will be terminated, fired, out of job, on the street.
They have lowered the basic salaries of a majority of the employees, but compensated for it in large allowances. Now they have changed the working days to 5 days instead of 6 days which is good, vacation days have improved. Bonuses are calculated at a lower rate because its based on the basic salary which has been lowered, but health insurance has been improved towards people with families and three days for compationate leave. They even added one week for weddings not included with your vacation, both male and female.
Overall its an interesting combination but they are putting their employees
Update: They only have two hours to sign or they are terminated
Daddyz Girl
Great job posting that :)I am sincerely grateful Marzouq … well done ;)
vampire
ppl should understand the economy crisis and its impact! the 2nd largest automaker in the world announced bankruptcy and Kuwaitis r still ignorant
KTDP
@vampire
But firing and rehiring isn’t the right solution longterm. Re-evaluating policies and improving regulations en masse is …..
Anas
Organization restructure is needed is such economy crisis, but unfortunately its painful.
Someone
They also increased their working hours to include a lunch break, so its 8 to 5 if you take the break, and 8 to 4 if you dont leave for lunch break
Abdullah
Thats nasty. I thought we went away from such mess.
My heart is with those who are undecided, lost or shattered.
Jacqui
Get rid of top management (i.e. those who get salaries of 20,000KD per month) and let the little ones live. Don’t restructure on the backs of those little ones.
xyz
SHAME!
Blaming the credit crisis or global economy is only applicable if it is actually true. All to ofetn many companies are using it as an excuse to restructure its compensation policies under false pretenses.
A little bit of corporate social responsibility would do Watiniya good.
Do they not realize that by strong arming employees the employees that stay will most likely work to undermine the company.
AnA
I agree .. it is a big SHAME wallah
my friend he used to take 580 KD now 310 KD
kuwaiti ,married,kids
wondering about the non kuwitis how they will survive