Westinghouse just put a freeze on salaries and eliminated senior management bonuses for the fiscal year. While not traded as a public company, the struggles of parent company Toshiba are placing extreme pressure on Westinghouse to make up for the losses. Westinghouse is in the middle of several challenging contracts in China where it is expected that the company will be hit with losses as the first AP1000 plants are constructed and come on line. Cash flow issues are being blamed on engineers but management does not look at themselves. In the past two years, the CEO has preached change, but procedures and beaurocracy remains a heavy burden borne by the working class of Westinghouse. The CEO has done little to bring effective change, settling rather to but cut benefits (pension), cut personnel (layoffs), cut overtime, freeze hiring, and allow key knowledgable technical leaders to walk away from the company. Patronizing weekly messages from the CEO advise employees that they are in control of their own morale regardless of how many cuts are handed down.
While a handful of good employees continue to work at Westinghouse, many are leaving. The remaining majority are people with lackluster careers (sub-par talent and work ethic) that can't find work elsewhere, those holding on for retirement, and those looking for jobs outside of the company.
