Pay cuts where you work?

[efhughes3]

Originally Posted by campbellcj

It's definitely the case that some strong companies are taking advantage of the timing to clean-house of dead weight.

I'm making more money than ever, and still hiring. Solid businesses can ride through these cycles. The others that can't should shut their doors and their people should compete for jobs with the stronger survivors. That my friends is capitalism.

You paint to broad a stroke on that statement. Not all businesses and fields are hit the same. Our company is as solid as any, more so than most. We've been running lean manufacturing for 10 years and are poised to weather a storm-within reason. We've adjusted budgets to where we think they need to be, as best as anyone can envision at this time.

But, as a durable goods manufacturer we depend on customers placing orders to keep going. Right now, most aren't. Unless something does change in the next several months, I do envision more serious maneuvers to adapt.

[jyl]

What do you do?

It's definitely the case that some strong companies are taking advantage of the timing to clean-house of dead weight.



I'm making more money than ever, and still hiring. Solid businesses can ride through these cycles. The others that can't should shut their doors and their people should compete for jobs with the stronger survivors. That my friends is capitalism.

[jcommin]

No raises this year. Salaried personal taken 4% cut in pay for the first and second quarter. Hourly people working 37.5 hour work week.

I'm looking at small bonus from last years performance in late March.

Not pretty out there.

[Hard-Deck]

$1200/mo raise in December. No layoffs in sight. Of course I have to put my life on the line at at times.

[Aurel]

Originally Posted by Snapper33

$1200/mo raise in December. No layoffs in sight. Of course I have to put my life on the line at at times.

Do tell more about the job...$1200/mo raise seems exceptional.

[Hard-Deck]

Originally Posted by Aurel

Do tell more about the job...$1200/mo raise seems exceptional.

Army officer

[campbellcj]

Originally Posted by jyl

What do you do?

Niche enterprise software business. We are very small but highly profitable and have survived tough times before.

I didn't mean to sound totally heartless earlier, but all this nonsense with the government bailouts and the new "save jobs at any cost" mentality really, really bugs me.

[jyl]

Over the past few quarters, publicly traded enterprise software companies have not reported much weakness. At IBM and HPQ the software segment has been much stronger than the hardware segments. Similar with the small cap software companies we look at. In the last quarter, some cracks have appeared. Sales cycles longer, conversion lower. But still overall doing well. Big contrast from the hardware and semi companies that I mostly look at, where even the best companies are struggling to protect profitability in the rapid downturn since fall 08. I'm skeptical that this benign state continues. I expect enterprise software to get hit hard before this is over. That is a general comment, not a comment on your business.

[jyl]

Reporting from the finance side, it is ugly which is no surprise. Our parent company has laid off 1/3, cut all salaries by 10%, bonus pool is 1/3 of last year, all the other opex savings measures. My group has not been affected by any of that, but there is a lot of pain going on around us.

[Neilk]

For once I'm happy to be in healthcare. Our side of the company sells claims billing software for hospitals. We're hiring.

I got a small bonus and should be getting a raise, but that is long over due in my case.

[Scott R]

Just got a large bonus, and everyone gets raises this year. My company kept our health care prices the same as last year by kicking in a little. My company is also allowing what we call "band 7" and higher to offshore our work address to keep us from additional taxes this next year.

The only issue we have is that consumer debt is going down, but that's only a small area of where we make our money. On the upside we service a lot of government debt which means we are going to show a nice profit this year.

This is "banking" btw, if you ever see a "star" emblem on an ATM or a red "telecheck" sign on a cash register, that's us.

[J P Stein]

I work for Boeing....one of them greedy union guys. A small layoff is in the works. They tell us that this is it for the year.....nobody believes that of course, but it's the company line.
After 9/11 (no offense, guys) the cuts were close to 50%. Over the next year or 2 there is no reason to believe this will be any different.

[bigsid]

No bonus this year...... no raises for the last eight years......... just big increases in in the amount we pay for health insurance......... sales are booming..... but at least I have a steady job and am near retirement .. if my 401 ever comes back!!