Tomorrow Calling22 Oct 2002
It's not very reassuring to work for a German financial software company when magazines like The Economist (pay only) and Der Spiegel (cover story) (cover free, story pay only), and even the local Hamburger Abendblatt carry stories on the 'German Banking Crisis', and how the first reaction of the banks is to cut back on IT spending. The Economist article is especially good, since it points out how special treatment for Sparkassen (savings banks) skews the whole domestic banking sector. Most of our customers are Sparkassen (or their IT outsourcers), with the notable exception of the Postbank, yet another special case in the banking market.
Meanwhile, the preliminary results are in, and it looks like that 90% of my co-workers did indeed agree to the pay and vacation reduction for this quarter. I guess many, like me, waited until the last minute. So management got what they wanted, we'll see what happens. I'm cautiously pessimistc. And yesterday we brewed the last of the company-provided coffee. We have to organize our own from now on.