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2nd Trimester
has anyone else gotten a pay cut?
My boss just announced that we would all be receiving a 10% pay cut because business has been soo slow. I'm not going to go into how tight this makes things for us now especially with the baby coming, but has this happened to anyone else. If so, were you given any sort of compromise like working from home for a day or shorter work days because of the pay cut?
Believe me, I am very very grateful that I still even have a job, especially since I may not in a few months...who knows if the whole company will go under.
Just wanted to know if anyone else was in a similar situation.
Thanks!
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Re: has anyone else gotten a pay cut?
yep. mine was effective the last week of December, oh and this will be the 2nd year in a row that we have not received raises and only "comp" days instead... like you i'm just grateful to still have a job... but it still sucks!!
oh but to answer your other question, there was no sort of compensation for the pay cut just a be glad you still have your job vibe.
Yes, our pay cut took effect this paycheck. 5% across the board for all salaried employees (CEO and executives took a higher cut, I think). We're a huge company with a pretty good cash position, so they haven't had to do too many layoffs at this point and I'm not worried about that, but I miss that $200 or so dollars a month. But I'm happy to have a job.
They just announced that they would let us do a flexible work schedule starting in May - basically, if we add one hour to our M-Th shifts, we can work eight hours one Friday and have the next Friday off. I might give this a try, but it might be more difficult once the new baby comes...
We also didn't get raises this year (although we did get bonuses for 2008). So the pay cut actually puts me at making less than I did when I was hired two years ago...
If I could work from home, it would all be worth it, though!
DH got a paycut not too long ago. more than 10% so its really hurt us. as soon as he told me i started looking at new apartments and we had to move to a smaller place just to save some cash. hes been looking for a new job since but hasnt had any luck so far.
its getting pretty bad out there. I work in education and so far my job has not been affected surprisingly. but so many of the people i work with are being let go. its sad
My company announced 3% and 6% (depending on your salary) in February. Then my husband's company cut all employees' hours by half in March. So we are VERY worried about money these days. Sometimes I feel like this is the worst possible time to have a baby (and then I feel guilty for thinking that, because of course we are so happy).
My company did not offer any compromises. We were told that once things turn around, we will not receive our old salaries again (we have to work back up to that pay). It would be lovely to work a percentage fewer hours to compensate for the reduced pay (or even little perks like wearing jeans to work), but I think the general feeling these days is that just having a job at all is something to be happy about.
I had a 25% pay cut effective January 15th. Ouch! It's supposed to be temporary and will be revisited quarterly. We'll see though...
It's bad timing that's for sure. Good luck to everyone!
We got a 10% pay cut starting on Feb 1st, suppose to last until Oct 1st. They also took away the company matching 401k program, and changed our vacation policy (vacation is no longer cumulative; you have to use it or lose it in the same year). However, they did change our STD to pay out 100% for the full 12 wks.
DD1: 9 DD2: 6
Due date Aug 3, 2019
We had a big cut in Oct of last year. Many of our benefits were cut too, so it effectively made our take home pay and out of pocket items much worse for the personal budget.
At first, they let everyone work 4 ten hour days. I loved having a three day weekend everyweek! It almost made the less pay worth it and all of the co-workers with children in day care could cut their expenses and everyone could shorten commuting time/expenses.
THEN- they decided to back track on this and we all need to wrk five days a week again.
Yes. I work in the financial industry - luckily my company is doing well even w/ the economy.
But...No pay raises this year. We went from 7 hr work days to 7.5 and my office moved further away this year so my commute is longer and I have to pay turnpike tolls now.
My company did something similar. Back in the summer, they told us we could start working one day a week from home and it really did make our low pay and no raise more worth it. They gave it no chance though and cut it after two weeks. It would have been better if they didn't even make it an option before.
With my type of job it's totally doable too.
But like I said before, I am very thankful that I have a job. I just have to remind myself frequently.