Chinahr a second time before the sale began

Absrtact: January 29, Chinahr the second time before the sale of the staff began. About 50% employees in Beijing headquarters were cut and received a monthly salary of n+3. In the evening, more than 200 employees who did not get compensation protested, the company's headquarters HNA Industrial building

January 29, Chinahr the second time before the sale of the layoffs began. About 50% employees in Beijing headquarters were cut and received a monthly salary of n+3. In the evening, the 200-odd employees who did not get compensation protested, the company's headquarters HNA Industrial building's 13 floors were occupied, the company CEO Luo Bingquan and the parent company Monster sent senior executives were "trapped" among them. Beijing construction outside the police station to maintain order on the scene.

After nearly 10 hours of confrontation and negotiations, Monster CEO Saille Iannouze (Sal Iannuzzi) Finally put forward a suggested solution in a temporary conference call: conditionally providing compensation to employees equivalent to those who leave. However, the final implementation of the plan, yet to date the mysterious acquirer and monster in 24 hours after the final finalized.

It was a sleepless night. The Chinahr, who had been quietly silent since the takeover in 2008, was finally ripped open before the two sale. This opening provides some details for the outside world to observe the decline of Chinahr.

Sina Science and technology to track the entire Chinahr layoffs:

Protesting employees waiting for CEO to appear on 13 floors

The "Sleepy" CEO

7 o ' clock yesterday night, HNA Industrial Building 13, Chinahr headquarters, the company's CEO Luo Bingquan (English name ed) in silence about four hours later, opened his office door. Luo Bingquan looks about 40 years old, slightly senility his "escort" of two burly man down to the 12-storey conference room to negotiate with his staff. Full corridor staff in the turmoil to give him a road, during the period can also hear someone to Luo issued "coward, want what bodyguard ah" such as choking.

At about 10 o'clock in the morning, Chinahr announced plans to lay off the company before it was sold. About 200 people, including sales, technology, human capital and finance, were laid off and received a (n+3) * Monthly severance payment (24 months ' salary for pregnant women), with a reduction rate of around 54%. According to the staff's introduction, the company director, general manager level of management is basically all cut. A lot of sales are still calling the end of the year before layoffs are announced.

Surprisingly, due to the relatively generous severance package, the staff was the envy of the party, more than 200 active staff have launched a collective protest.

"The man who was laid off happily left with the compensation, and we?" More than one employee expressed such dissatisfaction. In announcing the downsizing decision, the management was limited by the takeover agreement, without releasing the information of the acquirer or set-aside the employees ' compensation plan, "the only thing that tells us is that there is no further work to be done." The manager of the customer service department, surnamed Yin, said. Her 25-person customer service department was cut off half the same day.

Around two o'clock in the afternoon, the staff began to gather on the 13 floor, hoping to "get a say" from Luo Bingquan and monster executives who had been sent to perform layoffs. The 13-storey aisle was jammed, while two executives from Luo Bingquan and monster each "hid" in the office. The next four or five hours were a standoff between the two sides. During the construction of the police station outside Beijing to maintain order in the scene.

and Luo Bingquan out of the office means there is hope for renegotiation.

Protesting staff with Luo Bingquan, monster with CEO of the Ocean Conference

Two negotiating meetings

That night, Chinahr's staff attended two negotiating meetings: one with CEO Luo Bingquan, and Monster CEO Saille Iannouze (Sal Iannuzzi Telephone conference.

At about 8 o'clock in the evening, Luo Bingquan and more than 10 staff representatives to communicate the compensation plan. By the time Monster acquired Chinahr in 2008, Luo Bingquan had served in the company. Because it is a Hong Kong-American people, Luo's Putonghua is not standard, fortunately is not caused by communication barriers.

In about half an hour of negotiations, the employee asked Luo to disclose the buyer's information and to propose a compensation package for the incumbent staff. Luo Bingquan still on the basis of the takeover agreement, did not disclose who the buyer. According to him, Chinahr signed a takeover agreement with the acquirer in Saturday. The final completion of the acquisition is subject to the terms of the agreement. According to the agreement, the acquisition deadline is January 31, after the acquisition of Monster will remain Chinahr a small portion of the shares. That is to say, if Chinahr cannot make the agreement before 31st, the acquisition will fail.

The problem is that Luo Bingquan did not disclose the terms of the takeover agreement. As the executive side of the layoff, not the decision maker, Luo Bingquan also has no authority to grant any claims to the employees. Under the pressure of all staff, Luo finally agreed to Monster CEO Saille Iannouze to call the ocean, and staff to hold a conference call to discuss the solution. At that time, the eastern United States should be about 8 o ' clock in the morning.

So Saille Iannouze's voice appeared in Chinahr's 12-storey conference room. Perhaps considering the effect of the call, he deliberately put the speed is very slow, the tone has been very smooth. CEO Luo Bingquan automatically acts as a translator for conference calls. After understanding the staff's appeal, Purcell gave a promise: Chinahr after the acquisition, if the current staff in 2013 years by the acquisition of the dismissal, will be equal to the layoff compensation. In addition, he promised to compensate each employee for one months of extra pay this month.

For Purcell, this could be a generous compromise that he said was hard to understand when he heard his staff opposing the sound. But in the eyes of the staff, 2013 is too far to seize the interest. Once again, they made clear their claims that the employees should be paid the same compensation plan as the employees, and that the employee should decide whether to renew the contract with the purchaser.

Purcell is clearly not going to accept the request, because it means that monster not only has to pay an extra hefty amount of compensation, but that employees are likely to lose out.

The negotiations have stalled.

At around 10:20 in the evening, employees offered a compromise proposal: the compensation package is unchanged, but employees are committed not to leave in 2013 years. Purcell eventually offered to consider the proposal, but it took 24 hours to make a final response and asked staff to stop talking about it within the next 24 hours.

Late at night, more than 11 o'clock, the more than 200 employees leave the office, noisy one day Chinahr headquarters gradually attributed to silence.

Life and death purchase

It was a sleepless night. The Chinahr, who had been quietly silent since the takeover in 2008, was finally ripped open before the two sale. This opening provides some details for the outside world to observe the decline of Chinahr.

In October 2008, the US online recruiting giant, Monster, bought Chinahr's remaining 55% per cent in cash, making the latter a wholly owned subsidiary. According to 2007 annual revenue scale ranked, Chinahr is the second industry, the first worry, the third is Zhaopin.

According to Hitwise, the Internet Data Research Institute, Chinahr's weekly visit has fallen out of the industry's top ten. 2008, Monster disclosed the Chinahr loss amounted to 175 million yuan. According to the I stock report, in the three quarter of 2012, Monster's earnings from Chinahr's losses amounted to $230 million. Rival worry has been in a profitable state since 2004. Zhaopin also succeeded in turning around in 2011.

In the view of employees, the promotion of conservative, web systems blindly internationalization and the inability of executive management is the Chinahr has been acquired since the "deterioration" of the root. A 5-year-old gold sales employee said that after the acquisition of the Chinahr in the promotion of too conservative, and last year is almost completely not put advertising. "If the promotion is not the case, our situation should be much better." ”

"Our losses are not due to the poor performance of our employees, but to the fact that companies are spending too much money to hire senior executives who are now taking compensation." In Chinahr, staff dissatisfaction with management also erupted last night. It is understood that the company director, general manager of the management level of the basic total separation and received compensation, the night scene can see the management layer in addition to Luo Bingquan, as well as Beijing branch general manager Judy. In the negotiations, angry employees sometimes interrupt Luo Bingquan's speeches, so that Luo has to ask employees to pay attention to manners and manners.

A platform upgrade last July has culminated in a monster of corporate decision-making and Chinahr management dissatisfaction with the parent company. At that time Chinahr introduced the monster three technology, the platform of their own "monster." The so-called platform upgrade is to apply Monster's online recruiting system, ignoring the Chinese market's user habits, says a technical technician. For example, the upgraded platform uses the font size of the monster system's default English letter size, and in the same font, Chinese is often more difficult to identify than English because of the complex number of strokes. "A lot of customers look at that word and it's hard to die, and sales come to us complaining that the system is completely useless." ”

This statement was confirmed by the sales staff. Many employees said that the July platform upgrade after the customer churn rate increased significantly. A sales department employee gave a comparison of sales figures in north China. Before July, the monthly sales in north China were about 6 million, and the upgrade was only about 1 million. The 12-storey bulletin board also posted on the company's year-end promotional announcements, the original price of more than 8,000 service packages to 1000 yuan, "it is such a low discount can not sell out, because the customer said our system is too difficult to use." A male salesman said.

All the past and the reality, so that employees feel hopeless. In last night's protests, even some employees shouted "Chinahr is now equivalent to rubbish" words.

and Luo Bingquan has to admit the plight of the company. He made it clear in the negotiations that if the January 31 acquisition could not be completed, Chinahr would not be able to maintain the first quarter of this year's operations. In the negotiations with the staff, Purcell also said that if the staff do not accept his first offer of compensation, Monster can only choose to close the Chinahr business.

For Chinahr, this is undoubtedly a relationship between life and death of the acquisition. But it is still a mystery who is the buyer of this life-and-death takeover. 29th Night in Beijing, The thick mist has not been exhausted, Chinahr more than 200 employees of the protest results, also need more than 20 hours to see.

Note: At the request of the interviewer, the surname of the employee is processed.