Read in the P&J today that the directors have been siphoning off the cash for a while and sending it off to Iceland. Apparantly the staff were paid late in december and none of them have been paid for January, so nothing in 2008 at all! I also hear that the previous round of redundancies never received any redundancy money up front and were put on "leave" and have also not received anything, seems like it was all a cover story from the powers that be!
Some say it was a good outfit but dreams of jets to Texas have definately been part of the eyes off the ball issues.
I'll say this; I know and have met many other of the X9 crew, a good bunch of lads and lassies who did a good and very professional job and who certainly dont deserve to be treated this way. Seems like they have been taken for a ride. The first priority of any company in trouble should be to pay their staff, not divert money abroad to finance pipedreams and if you make people redundant, you have to pay, anything else is illegal. If they have the money to restart as they say, then pay the staff first.
I have been treated like this before by another employer and it leaves a scar (can you tell?). I hope that this sorry shambles works out for those that deserve better.
The real icing on the cake of course is that the CEO collected an honarary doctorate in business and then paid off 20 staff 2 days later in November and then his business collapses with massive debts in January. Shame on him, he knew all along.
Sad all round.