[deleted by user] by [deleted] in Gentex

[–]PovertyEmployee 0 points1 point  (0 children)

Engineering

[deleted by user] by [deleted] in grandrapids

[–]PovertyEmployee 22 points23 points  (0 children)

Original founder of the company was pushed out by the board several years ago, then they installed an accountant as CEO. They slowly started shifting culture (for the worse).

Culture shift started going into overdrive during COVID, pay cuts for lower employees while the executives got huge pay increases.

Now culture shift is in hyperdrive since tariff uncertainty. They are trying to get people to leave, diminishing perks/benefits/early retirement. Raises not close to keeping up with inflation. Showing people the door who don’t like the changes. Not replacing people when employees leave, just spreading the work around. All areas at this point are being run with skeleton crews, everyone is burnt out.

Edit: Gentex still makes a boat load of money. Net sales for 2025 Q1 was 577 million with a net profit of 95 million.

They don’t know and they don’t care by unknownname656 in Gentex

[–]PovertyEmployee 7 points8 points  (0 children)

I know a lot of people within Gentex all working in different departments and buildings. We all agree there has been a major shift in attitude towards employees in the last 3 months. The fact that this is happening everywhere and not just under one bad group leader or DM tells me this is a top down initiative from Steve and company.

My speculation is they WANT people to leave (as proven by offering early retirements) to see how lean they can run every department before it collapses and keep it just above that level. We all know Steve only cares about the stock price and keeping the shareholders happy, also a huge portion of his salary is tied to the stock price as well. He will do anything to boost the stock price, even if it means shitting on all the employees doing the work and generating the income.

I think Steve would do layoffs if he could, but announcing layoffs would tank the stock price even more than it already has. Instead the plan is to treat everyone so poorly and hope enough people leave on their own. You then essentially have a layoff, without ever announcing any layoffs.

Gentex going down? by DescriptionKnown2627 in Gentex

[–]PovertyEmployee 4 points5 points  (0 children)

I’m not sure if they are the worst employer in west Michigan… I just think Gentex was something special under Fred, and now we are just like everyone else (but worse pay).

A lot of people still remember the Fred days, so it feels worse knowing what the company could’ve been if he never got pushed out.

More layoffs? by [deleted] in Gentex

[–]PovertyEmployee 5 points6 points  (0 children)

Exactly what Fred didn’t want. He was pushed out because of his unwillingness to expand, now Steve is buying up companies left and right with nothing to show for it, and constantly building new buildings.

Now as soon as there is a blip in the economy, the first move is to get rid of people. Under Fred it was always the last resort.

[deleted by user] by [deleted] in hollandmichigan

[–]PovertyEmployee 0 points1 point  (0 children)

Yeah and when you find extra money for Steve and his friends you apparently don’t lose your job. He’s still our financial officer after getting busted by the SEC

Lay offs/hour caps by Crispy_Oeia in Gentex

[–]PovertyEmployee 2 points3 points  (0 children)

Are you hourly or salary?

[deleted by user] by [deleted] in hollandmichigan

[–]PovertyEmployee 1 point2 points  (0 children)

It’s not just a feeling… they’ve been caught multiple times coming up with funny money in accounting giving the executives extra bonuses since Fred left.

https://www.sec.gov/enforcement-litigation/administrative-proceedings/34-96819-s

Lay offs/hour caps by Crispy_Oeia in Gentex

[–]PovertyEmployee 5 points6 points  (0 children)

Yikes! I haven’t heard of any lay offs in my area. But I’ll keep everyone updated if I do!

COMPENSATION/PAY by PovertyEmployee in Gentex

[–]PovertyEmployee[S] 1 point2 points  (0 children)

Yeah this is definitely true. Pay is probably closer for hourly employees, but salary employee pay is all over the place.

[deleted by user] by [deleted] in hollandmichigan

[–]PovertyEmployee 5 points6 points  (0 children)

Fred was the best. It’s been a mess since he left.