Another method:
Thinking further about your problem, if you wish to show negative times in an hh:mm format, I think it's possible to "fake" a correct result using the CONCATENATE, MID, TEXT AND INT functions.
Let's assume that cell F5 shows the equivalent negative numeric time value (negative hours as whole numbers and minutes as a decimal of an hour after you've subtracted the standard 8 hours), let's say F5 = -3.0833 (ie. the staff memebr worked 4 hours 55 mnutes).
The following cell formula will give you the deficiency in worked hours and minutes (ie. -03:05 ). This will actually be in a text format but it will look like its negative hours and minutes' time value equivalent:
=CONCATENATE(MID(TEXT(F5,"00.00"),1,3),":",MID(TEXT((F5-INT(F5+0.99))*0.6,".00"),3,2))
As an explanation of the steps involved, I've:
1) Isolated the -3 simply by converting it to text and using mid(text) with a format which Excel requires to be specified.
2) Isolated the decimalised minutes value by subtracting the integer value of the whole hours. Because the Excel integer function takes the integer to next highest whole value (a negative one in this case), it would opt for -4 unless we add 0.99. In this step we've now isolated .0833 which is the decimal hours' equivalent of 5 minutes. It (.0833) now needs to be multiplied by 0.6 in order to be converted to minutes. Having done that the mid(text) function targets "05" as two character values beginning with the third character in the derived string.
3) The CONCATENATE function now simply places the two derived pieces of text into the one cell and separates them with a colon ":"
Ted1
PS. If you're an OZZIE, I haven't quite been up all night on this, I'm replying from Canada.