Work has been very interesting.
I work for a company that was a spin-off of a very prominent, well-funded Kliener Perkins startup. The company that spun us off went bankrupt on May 9. While our operations are separate, they are a large customer of ours and owed us a great deal of money when they sought protection from creditors. Furthermore, we are/were pretty short of money. Supposedly, we have bridge loans coming (from the investors, which is a much much better sign than getting bridge loans from a bank) and our next round of funding is secure...but I'm still wondering if this here paycheck is going to bounce.
The bankrupt part of the company lied to everyone right up to the last minute. They stiffed people for 3 days of work...then their paychecks bounced and they found out they'd been stiffed for 13 days work. 401K deductions from paychecks have gone astray. Insurance will not be paid, so the newly unemployed (with no real warning, since management was saying "everything's fine" up until the moment they filed) cannot get COBRA expenses. They also didn't pay business expenses.
This all adds up to gross negligence, fraudnabuse, etc. It's a bit worrying, eh?
So, supposedly we got our funding. There are rumors that our staff will be cut in half as a condition of that investment, and frankly, I think it's appropriate. Whether or not I am deemed essential remains to be seen. Man, I really don't want to look for a job. I applied for 4 jobs one week ago and didn't hear a damn thing back, which is unusual. Usually, I would have heard back from one of them.
I really like things the way they are, and I don't want them to change. On that note, I'm going to go work on my latest piece of work, which happens to be marketable to someone else, should I get canned here.
Really, the smart thing to do would be to find another contract and cut this one to part time. Another contractor is doing something like this and it seems like a great way to hedge one's bets. In other words, I have to go work now.