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Business Society - Tmp Directional Marketing

Essay by   •  August 20, 2011  •  Essay  •  301 Words (2 Pages)  •  1,335 Views

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I began working for a company in 2004 that was called TMP Direct which was a tall organizational structure; while it was family owned it also had a board of directors. In 2006 the father decided to split the company and gave the advertising side to the son, and we became TMP Directional Marketing. The son right away sold his half to investors. For the next 3 years things began to change. Before the company was split we could get bonuses, had hot lunch served and yearly company picnics; as a result to having been sold to investors, the social structure changed and all that ended. Being bought out by the investors changed this business society forever.The investors weren't seeing the profit they had been promised so the company started holding on to money and not paying their customers to grow interest in order to pay the investors. In 2008 when the economy fell, customers began pulling their ads, because they had not been paid, and began moving to online advertising which was less costly. The investors decided they still weren't seeing enough profit so the company began downsizing all across the state. I was laid off in August of 2009.

By that time TMP Directional Marketing tried to launch its online advertising, but they owed a lot of big companies. Now the investors still not making the profit they had expected no longer wanted to do business with the company so the son had to find another investor who was interested in buying. Unfortunately after multiple layoffs and not having money to show enough capitol for someone else to be interested enough to buy them, they closed their doors June 8, 2011. They were so broke they could not even offer the employees that were left a decent severance package.

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