Sticking with a Failing Company: The Dilemma of Loyalty and Survival

Many of us have encountered situations where we have felt the impending doom of our company. In such cases, the decision to stay or leave can be challenging. Working at a failing company can be a test of loyalty and survival. I once worked with a partner who led a company that was struggling, yet I had to navigate through difficult times and stay until the company not only survived but thrived. On the other side of this story, my father worked at Eastern Airlines for 28 years, faced the brutal reality of shutting down, and struggled to survive the long and painful process.

A Struggle to Survive: My Personal Experience

I joined a company with a bad partner, and together, we were facing harsh layoffs and financial struggles. The situation was so dire that it felt like we were on the brink of closure. Although I wished I could leave, the reality was that I didn't have the luxury of doing so. I had to stay and help the company through tough times. We managed to navigate these difficult waters, and to this day, the company is more successful than ever. This experience taught me a lot about loyalty and the power of perseverance.

Father's Long Journey at Eastern Airlines

My father's experience at Eastern Airlines was different but equally challenging. He spent 28 years working there until the company closed down in 1991. His last five years were like watching the slow death of a loved one. He saw his pay repeatedly cut, and his colleagues lose their jobs, one by one. Many of them had worked together for 15 to 20 years. My father managed to stay employed through the long and painful process of restructuring, even when he sometimes had to stay overnight to cover for colleagues who were laid off. He complained about the sale of assets to Frank Lorenzo and Continental Airlines, and how they stripped the company down to its core.

The final blow came when the airline stopped flying, and my father was left to deal with the logistical issues of shutting down an airline. He was devastated. That was the last straw, and he felt guilty for not leaving sooner. However, his family obligations, mortgage, and the uncertainty of finding another job made it impossible to quit. He convinced himself that things would eventually turn around. But by the last year when conditions were especially grim, the market was saturated with other airline employees seeking employment, and my father was 54 years old, which created a significant barrier. He stayed, feeling like he was failing his family.

The Impact of Restructuring on Employees

Restructuring can have a profound impact on employees, and my father's story is a testament to that. After Eastern Airlines closed, he faced severe financial issues and had to take on multiple part-time jobs to compensate. He worked in maintenance at a hotel, delivered auto parts, and did side carpentry jobs. The stress was immense, and he looked for other airline jobs but faced a saturated market and age discrimination.

It took my father 4 years to get any airline job again. Finally, at 60, he found a job at a cruise ship airline with a salary half of his highest salary at Eastern. The work was 60 hours a week, and the commute was an hour each way. After two years, he got a better job at an international delivery service but unfortunately, his health began to fail. My father unexpectedly died of a massive heart attack at 61, after a lifetime of dedication and perseverance.

Conclusion

The stories of both my personal experience and my father's highlight the complexities of working in a failing company. Loyalty and survival during such times can be a double-edged sword, bringing both challenges and opportunities. While staying can be a necessary measure to support one's family and fulfill professional commitments, it also comes with its own set of risks and challenges. Understanding the implications of such decisions can help individuals and companies make better-informed choices.