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I have 95 employees and I am in debt

Discussion in 'Making Money' started by ginder, Mar 19, 2009.

  1. ginder

    ginder BANNED BANNED

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    i had a contract with an IT company in Delaware for their outsourcing needs. Overtime i hired 95 employees to meet their growing needs but contract expired last month and i guess the company was waiting for it to get expired even though they were very happy and satisfied with the work but they hired their own team using two of my main employees who were managing everything and they knew everything. I did not have any contract to protect them from doing something like that so right now I am in a very bad position. I have 95 employees and i have no work for them and i need to pay their salaries every 1st and 15th of the month. On top of that i have all the office and equipment cost including all the bills and everything which are very high. I dont know what to do at this point. I have 20 software developers including php programmers. I have 18 designers. I have 23 data entry agents and i have 34 technical writers. all of these employees are very well trained and expert in their fields. My total costs to maintain everything is over $53000 employees salaries range from $300-$800 dataentry workers work for 300-400 and technical writers work for 400-500 while all others are high paying labor ranging from 600-800. I have 6 months left on contract with dataentry and technical writers. I have one month left on contract with programmers and designers so i can get rid of them thats no issue but i dont know what to do with data entry and writers. can anyone here please help me? things have gone very bad due to my bad planning and i am in a situation where i dont know what to do. any ideas what i can do with these employees? I have enough money to pay for their salary for upto 1 more month but after that if i am not getting any return i will be in big trouble. any help will be appreciated
     
  2. bizcredit

    bizcredit Power Member

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    wow man.. i feel for you... either whore them out on scriptlance or rent them out monthly to others... startup a website and become an outsourced employee provider by the month.
     
  3. catchme

    catchme Regular Member

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    I don't want to take decisions for you, but if I was in your shoes I wouldn't allow myself to be in debt.

    I would be honest and tell them what the problem is and cut down most of them.
     
  4. ginder

    ginder BANNED BANNED

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    i cannot even cut down on employees. i can get rid of designers and programmers by the end of this month but i have to keep dataentry and writers for 6 more months. if anyone is wondering where are these employees located. they are located in india and they work 10 hours a day for 5 days a week
     
  5. arbydar

    arbydar Newbie

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    Ouch! That's gotta be tough. I used to have employees, equipment and lease space too. They can become like an extended family (the employees anyway). Am really glad to be out of that gig.

    Have you tried calling on this companies competitors?
     
  6. unknownn

    unknownn BANNED BANNED

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    Did they hired already their whole new team?.....If not offer them to take over your employers and you pay 1 month of their income....This is a nice deal for them making 54k and you are rid of the people
     
  7. lifefzr

    lifefzr BANNED BANNED

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    Stop paying them. They will run on their own. Declare you are broke. At least do it with those who don't live near to your house.
     
  8. ashilicious

    ashilicious Junior Member

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    I would first of all tripple check with your attorney that you can't infact let some of them go (depending on their individual contracts of course).

    If the answer is still no, as to what to do with them...

    You could try setting up a small dataentry-content firm. I would be all over places like elance, getafreelancer, odesk, craigslist, etc. looking for work and trying to establish some credibility fast! I would also list the service in every forum I can think of that has a 'Buy, Sell, Trade' section (including bhw). If you start making a name for yourself as one of the best in the business it could actually turn into a nice little profit turner.

    Apart from that I would contact Howie Schwarts or someone like that whos business is creating content to flood web 2.0 properties. You may even be able to do a jv with Howie as he has thousands of students who are also in this market. If he is not interested I'm sure he might be able to point you in the right direction.

    References and previous work examples will be one the biggest determining factors for all of the above as alot of people are scared of Indian writers, including me.

    Considering you have them for 6 months, this could be the perfect opportunity to dive straight in to your own affiliate business using Howies methods. There is HEAPS of his work here in the download sections to help you get started.

    Just a few thoughts.

    Ash
     
    Last edited: Mar 19, 2009
  9. xvoidx

    xvoidx Registered Member

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    do you live in india aswell? or are just your employees located in india? If just your employees are in India I would think that any contract with them is voided on american soil. I mean how in the hell would they take you to an AMERICAN court with a INDIAN contract? I'm no lawyer but it seems you can get away with letting them go. Maybe I'm missing something though.
     
    Last edited: Mar 19, 2009
  10. ginder

    ginder BANNED BANNED

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    the major problem here is not letting them go. I am sure i can find a way to do that and worse come to worse i can just declare myself bankrupt BUT first of all i dont want to let these guys go like these. They depend on me their families depend on me so my first choice would be to somehow use them and keep them second i also cannot just let them go i was making over $80,000 a month profit after all expenses and my standard of living has increased with my income and if i lose all this i may have to lose my house my cars and lot more stuff that i cannot afford to pay unless i have good income coming in. i have enough saved up to take care of all expenses for maximum of 2 months before i hit the road. i really need to find something where i can profit from these guys. i am very well experienced in managing such big team with help of supervisors so even the most difficult task could be easy for me with help of everyone
     
  11. keinehabe

    keinehabe Supreme Member

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    I think he's main problem is not the legal way how to get rid of employers , it's seems hes looking desperate for other work for hes employers since the company for which he hired them busted hes a$$ out of the game . Writers can be used even to make content for AC or similar ... programmers / designers / coders ... if you still have them just jump on same market and same niche like the bastard's who put you in this situation , even if you explain to them what's the problem right now with their salaries I think you can get still some decent income at least to pay them a part of salaries ( gaf/scriptaliance/elance and all other freelance networks ) ... anyway next time try to protect yourself with an contract when you have to do similar thing ! and most important since this company put you at one step of the ''hole'' I think is time to start to compete them even on same area where they are .
     
  12. stinky_boy

    stinky_boy Junior Member

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    Really good advice. Trim your employees down to the core team. It's hard, but you have to lay off the rest. You may need to file under chapter 7(it's been a few years so not for sure), steal some of their employees, if possible, and go after the bastards in their area. You may have several ventures you can start with the core. Don't give up.
     
    Last edited: Mar 19, 2009
  13. stinky_boy

    stinky_boy Junior Member

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    duplicate post, mods sorry, if you can please delete.
     
  14. kayzne

    kayzne Power Member

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    Create a Captcha Form Filling Company and Work With Bot Makers. Have them Fill in captchas all day.
     
  15. ramakazi

    ramakazi Regular Member

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    you could always hire them out to people on bhw to cover expenses.
     
  16. plut0

    plut0 Regular Member

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    You can build big PLR then sell it on WSO. People are hungry about fresh content.
     
  17. lifefzr

    lifefzr BANNED BANNED

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    start every kind of service at BHW.
     
  18. chowyoungfat

    chowyoungfat Regular Member

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    I agree with this idea, renting them out to members on bhw is another good idea.
     
  19. DrJekyll

    DrJekyll Senior Member Premium Member

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    1-9 for your Keyword goodluck
    Hit up every freelance site, and bid, bid, bid
     
  20. win292

    win292 Junior Member

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    GOOD!!!BID, BID, BID and money will COME, COME, COME!