pay cut at work

Still working 40 hours a week at my job, unfortunately all the overtime has dried up (used to be 10-20 hrs/wk overtime.) We've done a little house-cleaning, laying off a couple bad employees (which was way overdue), but no changes otherwise. We're considered essential since we're part of the supply chain for an essential industry, but it's more of a loophole IMO since the projects we're presently working on aren't at all essential (new Kia dealership for example is one of them.) But I'm not going to complain, I'm fortunate to be able to work.

We're projected to stay busy for the next couple months, it's questionable after that. Most of the jobs we're working on today were bid/contracted 2-3 months ago. So there's a few month delay in our business between when the economy tanks till we begin to feel it at the shop.
 
All field service folks get 10 hours pre approved OT every week but with the situation some are working more. Now with hospitals getting antsy every call they want a stat response.... no longer will they accept service 12-15 hours later.

I'm now temporarily back in the field cause big boss asked me if I could help. Just like hurricane season I say sure no problem.

All PMs are scheduled and will keep you busy. PM compliance for this equipment is 100%. No excuses.
 
I'm down from 45-50 hours a week to 30.
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We're down from 14 drivers to 5.

My wife is working 50+ hours a week, she worked five full days last week and a half day Saturday. Won't be quite as much for her this week, but she expects 5 10 hour days.
 
Originally Posted by Jarlaxle
Originally Posted by LoneRanger
In municipal law enforcement on a dept w/ 300+ sworn. I am in CID as a supervisor of detectives, but all of CID and other support divisions have to keep duty uniform and all street duty and mobile field force equipment (i.e. riot gear) in vehicle and be ready to go for crowd control if things get hairy such as civil disorder begins to erupt, or the more likely scenario of staffing levels to cover the patrol/field functions start dropping to due to personnel in the patrol division have to stay home 14 days in isolation-- then we will be told to suit up and start taking over the temporary vacancies in patrol. We may also go to 12 hour shifts at that time. Likely scenario for me personally if that unfolds might be posting to a critical infrastructure site, say a grocery store or a hospital, for security reinforcement. I'd prefer the grocery store detail vs. guarding a hospital's outdoor triage tent, etc. I'm 31 yrs into it. Original plan has been to retire at 32 yrs early next year. Hopefully that will still be an option.

Could you retire now?


Yes. Wife wants me to. However, I'd like to finish 32 plus the whole don't be a quitter when times get tough thing... ego, pride, esprit de corps, etc. If the situation the world finds itself in eases up come summer, I may possibly go then with 31 & 1/2 instead of 32. Also depends on how the global/national economic recovery goes ... if a recovery happens.
 
Temp layoff at both my jobs.

Hoping this doesn't go months (as I have heard a few say) or I won't have to worry about either job....
 
My boss and his boss drove over 300 miles to meet with my team yesterday in person. Our last day of employment will be April 20th. Not temporarily either...DONE. They're closing down all the satellite terminals and laying us off. The big terminals with 25+ drivers will cut about 25-30% of the drivers.

Never thought I would see a time when gasoline screeched to a standstill due to people not traveling...in just a matter of weeks. It went from great to slightly cut back to being over 50% down on fuel freight in about 6 weeks. The fuel transport industry is wounded and bleeding like never before.
 
It really blows my mind how the businesses have doing so good for so long and got tax cuts, economy was booming, yet they don't have any cash set aside for even a short amount of time to operate and hold their heads above water.
 
No change at my place of work for me, aside from working from home. Most of the work is in the form of multi-year contracts with "essential" projects/companies, so our company continues to get paid to keep us going. Most of the engineers are working, but our shop has been forloughed aside from a few for a critical project or two. They are trying to keep as many people as they can working. No layoffs, paycuts or benefit changes thankfully. They are restricting to 40hrs a week, no more, for all of engineering (we are paid per hour, not salary).

Our annual review should be happening now, and due to COVID I guess they may just do away with face to face reviews and give a 2.7-3.0% raise to everyone across the board, unless our supervisors want to give more to specific individuals.
 
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Originally Posted by Nick1994
It really blows my mind how the businesses have doing so good for so long and got tax cuts, economy was booming, yet they don't have any cash set aside for even a short amount of time to operate and hold their heads above water.


Why does this surprise you? It shouldn't. I'll give you two examples. These are 2 stories I have witnessed/heard of since the start of this epidemic.

Example 1: Downtown Chicago bar and restaurant I go to occasionally for lunch. Owner has Porsche 911, GWagon, and wife drives an Escalade. Owner has million dollar home in north burbs.

As soon as restaurants got closed, he let everyone go. Nothing to his employees. Now he's claiming if he doesn't get a loan he'll lose his business entirely. It's been two weeks.

Example 2: Good friend of mine is an executive at a Fortune 500 company. He's probably top 75 in the company. Once the virus hit, they laid off a ton of people and closed a few locations. A lot of the middle managers and below took some sort of pay cuts. Meanwhile my friend got a slight promotion, which meant a 50k cash bonus, another 50k to his base salary, and another 100k in stock/year. The only thing he lost was his 401k match (which had nothing to do with Covid 19).

I'm positive the restaurant owner pays himself way more than he should instead of putting it in to company savings. He'd rather have his business go under and screw his employees than give up that lifestyle.

Regarding my buddy, executives are going to take care of executives no matter what. It's really the good old boy network in these companies. No way they are going to be effected when there are people they can lay-off.
 
Good old boy sometimes … and good old analysts that pressure companies to push every dollar to the limit or your stock gets hammered. Then reinvent the fundamentals. Like the WG analogy about where the puck is going to be. Somehow they know where it's going to be ?
 
Originally Posted by Nick1994
It really blows my mind how the businesses have doing so good for so long and got tax cuts, economy was booming, yet they don't have any cash set aside for even a short amount of time to operate and hold their heads above water.


The reality is there is big opportunity now for people who saved to swoop in buy a business bottom dollar / fractional cost and start up. Not same owner but jobs will flow back.
 
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My wife's 401k contribution cut at hospital non union. Nurses and other non professionals people in union Get paid more due to "hazard" and keep 401k.
 
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Example 1: Downtown Chicago bar and restaurant I go to occasionally for lunch. Owner has Porsche 911, GWagon, and wife drives an Escalade. Owner has million dollar home in north burbs.

As soon as restaurants got closed, he let everyone go. Nothing to his employees. Now he's claiming if he doesn't get a loan he'll lose his business entirely. It's been two weeks.


Unfortunately lots of business owners think that way.

You know he has $$$$ in the bank probably sheltered in wife's name and won't hesitate to walk away from restaurant and file for bankruptcy. Even if he gets a loan how long can he stay in business with no customers?

Lots of business owners feel you should be happy that you are employed. Once bad times hit you are out the door with nothing.

At my job they pay you 1 week of pay for every year worked + all unused vacation / floating holidays, etc...
 
I work at an auto parts store. All of our locations are open. But we've already permanently laid off one employee at our location and I'm sure there is more to come across all 5000+ locations. And hours are being cut back. We can use our sick time to get to 40 hours if we want. But no more OT. I'm totally screwed. I relied on OT to barely scrape by. I might have to go for bankruptcy.
 
At my company, last week they started laying people off with high points. Normally, if you reach 6 points your terminated. Point/points come off annually.
 
Pay cut? My job has been stagnant on pay raises in the last decade. So much that we are 20,000$ or so a year disparity with the competitors. Hard to cut what isnt there.
 
Originally Posted by Nick1994
It really blows my mind how the businesses have doing so good for so long and got tax cuts, economy was booming, yet they don't have any cash set aside for even a short amount of time to operate and hold their heads above water.


How many businesses can survive weeks (or months) with ZERO income? Bills still rolling in, no revenue.
 
Originally Posted by Jarlaxle
Originally Posted by Nick1994
It really blows my mind how the businesses have doing so good for so long and got tax cuts, economy was booming, yet they don't have any cash set aside for even a short amount of time to operate and hold their heads above water.


How many businesses can survive weeks (or months) with ZERO income? Bills still rolling in, no revenue.


Cruise lines idle like Carnival and burning their cash. Same with the AMC movies.
 
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