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For the first time in the 15 years I have worked here, the company is taking cost reduction measures that include:
* No annual merit based pay increases in FY2009 (Apr 2009 - Mar 2010)
* No match of 401K contributions in FY2009
Matching will resume with an even better than before matching program in April
* 75% cap on bonuses for those of us who are bonus eligible
* Hiring freeze
Which really means you have to justify the shit out it before you can hire
someone into a new position but not impossible
* Mandatory one week of furlough for ALL employees including the CEO and Chairman
This will actually save 430 jobs from being cut
Hourly people can take one day at a time
Salaried people must take 5 consecutive days in the same week
Furlough means we have to take a week off without pay. I will be taking my furlough week next week, so with the Thanksgiving holiday, I will have an extended time off. I'm not supposed to check voice mail or email, but I will read my email from my Blackberry so as not to have so much to catch up on when I come back. I do the same on vacation so that I don't stress about what I am missing and how much is piling up. But for next week, I cannot respond to any emails or calls.
My wife has a Honey-Do list ready to go. We will spend a couple of days in Vegas, at the Venetian, though.
Tough times call for tough measures, but this is really hard on our lower income and hourly workers. In CA, they can apply for unemployment, but there is a one week waiting period, so they won't get a dime. However, if we have another furlough week in the next 12 months, they would get paid for that week.
Obv, defndrofangels won't have this problem. -
Iran is having the same issues as the USA is having with their jobs? Crazy!
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All the teachers at the school I worked at the last two years had to take two or three furlough days this year... By doing so they were able to save all but one teaching position at the school.
Mine. -
In Norway, you can demand or your employer can force you to take up to 5 weeks unpaid vacation every year. BUT... your employer also have to pay you 12% of your total salary last year when you take this vacation. Even if you don't take the vacation you still get the 12% from last year. I've never taken more than 3 weeks of during the summer (which is when people usually take this vacation).
I have taken two weeks vacation during the summer, gotten my vacation pay, and then taken another week off later in the year without pay. I don't know if this is the same. -
Sounds a lot like what our company has gone through.
Our entire division at work started taking 1 week furloughs. In October, they realized this wasn't enough, so half of my team got put on reduced hours (32 vs 40, with the 20% pay reduction) and the other half are having to take furloughs, some as many as 2 weeks before the end of 2009.
I've taken both the reduction and a furlough week. Applied for unemployment on the first week but not have to use it since I went on reduced hours.
The good news is they are allowing us to claim partial unemployment through an initiative our state has (Arkansas), so I will be able to draw some each week in order to help offset the 20% loss a bit. I get to claim back pay from mid-October, so I'll get a nice size check sometime in December.
Furloughs suck, minus the being off work, but I guess it is better than getting laid off. -
That's very different than here. Most companies offer full pay during vacation time, though we, in general, get less vacation time that employees in Europe and Asia. After 15 years with my company, I get 4 weeks of fully paid vacation per year, but someone that has only been here for a few years only gets 2 weeks. Unpaid time off (furloughs) are new to me and are being used more than I have ever seen.
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Next week they are gonna hand out 30 layoff notices at my department. The guys will have 14 days until they are laid off. They will be offered a furlough as well. What that means is that they keep their badges and guns and will be able to work extra jobs in uniform (i.e. security at ballgames, stores, etc). they will also get to keep their health insurance. So this means they wont be getting a salary but will be able to make some sort of money. Many fo the guys are gonna pass on this and take the layoff to get unemployment. The problem with that is that once you have a break in service the clock starts ticking on your commission. After a certain amnt of time you have to go back to the academy and I don't expect any of them to be brought back for at least a year.
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I'm currently on furlough.
It's not that bad. They take our pay out over the course of the entire year so we still get a paycheck even when we're on furlough.
I'm looking forward to Christmas time. Between 2 comp-time days and furlough, I'll be off from December 18th through the New Year!
Weeeeeeeeeeeeeeeeeeeeee -
Nice Christmas & New Year break.
I like the idea of having them spread the pain over the entire year. In our case, the decision wasn't made until September so we have to bite the bullet in one check.
In the case of ess' fellow police officers, that a lot tougher when looking at a year or longer. I think if I was in that situation I would try and keep the benefits and try making some money working in a security capacity. -
Must be nice guys.
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LOL - Maybe you need a career change.
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How long where you working there defnder? Tough break to get caught and fired, but if you're not passionate about what you do for a paycheck, that can happen. I work with a lot of Japanese companies, and the Japanese are always <STRIKE>sleeping</STRIKE> thinking with their eyes closed in meetings and in their offices.










