Pay cuts where you work?
 

Probably 1/2 of the companies I look at have instituted broad and significant pay cuts at all levels of the company. In some cases, also unpaid leave, eliminating 401k matches. And zero bonuses.

Is the same happening where you work?

Nope, I got a ~10% bonus and a small raise

(then I got laid off within a day or two)

I was informed of a raise the third week of January-it was rescinded the next week as were all increases this year, including the CEO's.

I'm not complaining, I understand all to well what is going on. However, the many of the people in our customer service dept at the plant were upset at this move. That, I can't understand.

no and various facilities are hiring, looking for entry people

My group is working 6 hour days, have been for the better part of a month, and we can't use PTO to top up our hours (apparently it would defeat the purpose. hmmm . . . . .)

Thats a pay cut.
One year ago I was working 10 hours a day six days a week.

Stupid recession.

So far - we haven't had any cuts in pay just lay offs and attrition (no replacements).

Our CEO announced a few weeks ago no raises and no bonus including the CxO staff. Then one of our division's VP announced to his folks (who were in fact profitable last year) that THEY were getting their bonuses. All of the IT folks who support that part of the company were in the meeting when he said this but since they are considered a part of the 'mother company' they get (and by they I mean me) nothing of the sort.

It's awesome. Last year was one of my busiest years for work. I sacrificed personal goals to meet work demands - This year I will be doing that a lot less. I find myself less willing to go the extra mile.

:eek::eek:yup, I'm a contract sales rep and one of my companies that I work for just took 40% of our pay away....but if we hit our 1/4 goal we get 20% back and if we hit our year-end goal we get the other 20...but if a customer goes past 31 days due we forfit all commisions earned for the innvoices past due.:eek::eek:

what is this "work" you speak of?

- PSUP

What does everyone think…

Microsoft 29 billion in the bank /no debt (laid off 8-10k)
Cisco 27 billion in the bank (laid off 3k)
Apple 24 billion in the bank (laid off 2k)

Anyone think these profitable Companies are just using this recession crap as a means to clean house of high paid middle mgt?

I know quite a few video game companies are doing just that.

In their perfect world, a large number of their employees would be contracted for a few months out of the year. In reality, they're not allowed to do that and have to keep them full-time.

I also think that some of the bigger companies are sending a "be happy you still have a job" message to those people raising a stink about the long hours and requests for overtime.

$11 per hour => $10 per hour. 10 hours a week => 6 hours a week. Same number of students...

I just received notice that I'm getting a 10% pay cut. So is everyone who's left...

20% pay cut and then they laid me off.

No cut...in fact a 7 % raise.

Do you mean that you make $10/h to teach students? What do you teach and what level? In my lab, students make $13.05/h when they get part time jobs to help us (that is in a State University).

I'm a public school teacher. There are no pay cuts, but we aren't getting any step increases or cost of living raises for next year. Fortunately, I'll finish my Master's degree this summer so I'll get my pay bump through that... although it'll be to this year's level.

BB.

Some key info is missing here. $10 an hour to teach public school does not sound right. And what teacher works 6 hours a week?

A new public school teacher with zero experience in Kershaw County, SC, makes $29,500 a year. And as I recall the school year consist of 180 classroom days. Based on 180 eight hour days that's $20.48/hr.


Now a sub that's making $10/hr is doing great. The recent budget reduction here eliminated all funding for subs. If you had a "career" as a sub, you're now unemployed. Prior to the change, a sub would earn between $5.00 and $7.00 an hour.

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.

Things are going ok for now. We're way understaffed (I was a department of one, but we took on a second person about a month ago) so days are usually about 10 hours. Hope the economy turns around before trouble hits home.

I know they did that in our department and I know we are getting the message from our CIO 'be happy you still have a job'. I've heard that he is quite tired of hearing we don't have enough resources to do everything that needs to be done - even if it is the truth.