Just when I though it was all going good...

[CindyLou]

My CEO gathered all the Director's together and asked us to "voluntarily" take a pay cut as a "group". We then had to vote. Out in the open. By a show of hands. I coundn't believe it was happening. I declined to vote either way. But then I was the only one not voting. By the end of the meeting I actually voted to lower my own salary. I feel tricked and used. I had every penny of my pay check accounted for. there goes my saving payment. So much for paying myself first. I am just sick at my stomach. Well, thanks for listening. I know its not the end of the world and I am thankful to have my job and my career but I think today was a bad decision by my employer and maybe they will rethink it, who knows.

[HRx]

This very common business/human resource managment practice. In some circumstances, this is just the prelude to layoffs, but in your case this may not be the case. Many folks are just thankful to still have a job...while they start looking for another job. Were you told if this pay-cut was temporary/permanent?

[CindyLou]

temporary....until we make up some losses

[arkienurse]

temporary....until we make up some losses

Well, thank God for the temporary. All the higher ups at my hospital, including my direct boss are worried about their jobs right now. My company, Triad, was just bought out by Community Health Systems. We hear the first thing they have done at other hospitals is to clean house. The CEOs and CFOs have all been let go. So I know many of them are very worried right now.

[$$only4ever]

I know how you feel cindylynnsmith... I work for a bank and banks have been struggling this year due to a lack of deposits and the real estate market. So far, I have made it, but you never know.

[BKOnce]

USA has been transformed gradually (in the past) from a "manufacturing" country into.... well, a customer "service" country... thus explaining may past laid-offs (auto, electronics, textile, toys, agriculture, etc.)

Now, watching out for a next, new wave of laid-offs of the century ==>> a "service" industries turning into ...well, a "contractor/sub-contract/" or "outsourcing" industry for foreign countries/workers hands to inherit... (cheaper cost, productivity, efficiency, etc.)

[CindyLou]

today was a better day. they did at least give us a date of Dec. 15th that our pay will go back to normal. I do trust them that they will hold their word. they are a reputable organization, but it is still hard to make that adjustment when you have everything worked out out to the penny. so much for my two year plan. I guess I'll have to make it a two and a half year plan....lol.

[lrprn]

I guess I'll have to make it a two and a half year plan....lol.

Glad to hear that the decrease will end in a few months and you can plan ahead again, Cindy! You must be relieved!

[SinkingFast]

We rode the Corporate Rollercoaster for YEARS, Cindy. It's not a fun ride.

I'm glad for you that the pay decrease is only for a short time. Not necessarily the time of year you'd want to be short.

At least you'll get a nice Christmas present with pay reinstatement mid December.

[CindyLou]

Now they called us all back in and offered us a 10% cash bonus to break even by the end of the year (we were origninaly set to make 8 million, but on target to loose 3 million when they gave us the original cut) Now the heat is on!! Now that's incentive! It'll get done now. But what a roller coaster!! Anyway, that's life, huh?

[chpxiii]

Cindy, yes, that is life, especially in a capitalist market. My first thought was atleast you weren't laid off. The last company I was laid off from, I didn't even get the option to even TAKE a pay cut (which I would gladly have done) but simply axed. Which is worse, because at that point I don't have *any* pay.