Due to a downturn in the market, production slowed, and with the failure to introduce new products, the business drastically declined.
The Hibon division is actually costing Ingersoll-Rand money rather than generating profit, and will sadly be closed soon.
A combination of poor management and ill-informed decisions means that there is no chance of recovery. The implementation of Sox compliance was a very expensive and badly executed move which resulted in job-losses and out-of-control expenditure, which left the company bleeding dry.
Products are of a very low quality and due to the numerous defects and non-conformance issues, customers began pulling their business and moving to competitors.
They cannot afford to hire new staff, because there is not enough work to warrant new employees, so they bring in short-term contract workers to do little projects while they struggle to deplete their remaining old and worthless inventory. Once these tasks are completed, the contractor is dropped without as much as a thank you.
At Hibon, they operate on a buddy system, and the person who impresses the president most with their servility, not their qualifications or effort, is the one who will be recognised.
Staff are constantly at each other's throats due to this level of back-stabbing in order to get ahead.
Grievances amongst employees are not dealt with because the management does not want the parent company, Ingersoll-Rand, to know how bad it is.
The obsequious sycophants get away with treating others disrespectfully because they know nothing will be done about it.
Many people who work there are not qualified for the positions they are in, and will have difficulty finding other jobs when they do close.
