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The organization I've worked for has been in financial difficulties lately. It had to be bailed out by the government last month or surely it would go bust. My manager has tried to find some solutions to improve the budget management, so he contracted out some departments to other companies to attempt some spending cuts. The firm also has been commited to drumming up some business to increase profits so that the situation might level off.
The plan is to phase out the government loan over the following three years, especially after the rolling out of a new product we've been developing since last week.
Things have become better since Mr Matin, our former CEO, stepped down two months ago. After that a consortium of companies have taken over the group and I trutly believe that even if it is so hard dealing with all these changes we've been facing lately, those actions have been quite helpful and only the future will tell whether they will measure up.
A representant of the government told us two days ago that if the company shows them it is totally commited to this new Reconstruction Project, the debts might be written off – those are good news to our team, and I really believe that this matter only depends on us – I dare say we are going to do it.