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Post Info TOPIC: Todays job cuts
JD The Jazz Doctor


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RE: Todays job cuts
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401k match contributions suspended as of March 1.....yawn.gif

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"And like Web, I enjoy throwing JR under the bus.  Problem is, it's usually under the special bus that I ride every day". Ghostdancer 12-18-09
Jeremy Riggs


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I think there are some companies just taking advantage of the bad economy excuse to cut back on raises and stuff. hmm.gif

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Mad Mema


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Probably true. This is 2 years running for us. hmm.gif But last year we got quarterly bonuses based on how well we met the mysterious corporate objectives, so that wasn't so bad. This year is gonna be tough.

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confuzzed


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Our 2008 numbers were still strong. We have gone through some things and warnings around here. I can't wait to see what they do with our possible raises. They are still trying to finalize budgets for the new year so they don't have a possible range.

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Mad Mema


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I guess the thing I don't understand is that for the last 4 months or so, the rumor from management was that we would in fact have the possibility of raises this year. The rumored raise pool up to 10% just a couple weeks ago. My bonus for 3rd quarter was 203% of my elegibility, 2nd quarter was 157%, can't remember what 1st quarter was, but it I do remember it was pretty good. One would think that we were doing fairly okay, but I guess not.


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MM

That which does not kill me postpones the inevitable.
confuzzed


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Our raise pool was 4% last year. I don't see that getting any better. Mema - you would think with all your layoffs they would be able to give some kind of raise to those of you still there. The good news it that I believe we are still eligible for our bonus for 2008. That would be great and a huge help for me.

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Mad Mema


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In theory, we are still eligible for a 2009 bonus... just not in 2009. weirdface.gif We will have various objectives which contribute various percentages to our total bonus, like operating capital 50%, churn 20%, net customer adds 20%.... that kind of thing. In theory, somewhere around end of 2nd quarter, they will evaluate how we did and that will be half of our bonus, then again at the end of 4th quarter the same exercise. IF we meet our objectives and the board votes to give us a bonus, I would then get my bonus payout in March 2010, prorated of course for whatever part of the year I am actually on Sprint's payroll (in the event of rebadging).

Its possible I could get a 4th quarter 2008 bonus next month, but I won't know until March.

They are even telling us that 401K matching at the reduced rate might be available for 2009, but that too would be a board vote and payable in 2010, prorated...yada yada yada...

And the appropriate term for the raise situation is "salary freeze" which we are told is temporary. Might be "thawed" next quarter, maybe later in the year, possibly 2010, maybe never...

-- Edited by Mad Mema at 15:55, 2009-02-04

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MM

That which does not kill me postpones the inevitable.
confuzzed


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I know about the bonus calculation and payout. That is where it can be good to be in the know with the numbers or know someone coser to the numbers every month. First you make sure that they are accruing for the bonus every month, if not, that is generally not a good sign. Part two of that becomes even if they are accruing the bonuses every month making sure it stays accrued when they close the 12/31 numbers. If they reverse it out, that is not a good sign part two. If said accruals stand, it must be paid by March 15th (well the technical term is 2 1/2 months after year end). That is where the tax knowledge comes in handy. If they accrued it, they have to pay it otherwise it causes tax issues. As of now, ours is looking good. I hope the audit is clean and we should be okay.

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ghostdancer


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JD The Jazz Doctor wrote:

well they just cut our hours to 32 a week for the remainder of february (at least).....
squonk didn't even score a monday or a friday off & is rightfully miffed.


Wow, sorry to hear this JD.  Sounds like karma came around just in time when you landed that second job.

 



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squonk


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ghostdancer wrote:

 

JD The Jazz Doctor wrote:

well they just cut our hours to 32 a week for the remainder of february (at least).....
squonk didn't even score a monday or a friday off & is rightfully miffed.


Wow, sorry to hear this JD. Sounds like karma came around just in time when you landed that second job.

 

 


Ghost, yer wrong. JD is just tryin' to make our crap work. I'm lucky, I'm double income.

 



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Mad Mema


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Nissan... 20,000 worldwide.



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Jeremy Riggs


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JD The Jazz Doctor wrote:

well they just cut our hours to 32 a week for the remainder of february (at least).....
squonk didn't even score a monday or a friday off & is rightfully miffed.



Wow, I missed this the first time around JD.  Sorry to hear it.  You're 20% laid off basically.  hmm.gif

I'm sorry though, no extra hours at the station, we've had to cut Consuela back to only evening hours.  We even had to make her uniform skimpier because the dry cleaning was getting cost-prohibative.  hmm.gif

 



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JD The Jazz Doctor


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meh. its aight. I will eat 3 days vacation pay to get by with this. Which is kinda funny in that because I have been here 5 yrs, I got an extra week this year anyhow.

I think its kinda wierd too they are letting us use vacation days so we get paid anyhow.....confuse.gif

wouldn't ya want us to at least work for the money you are paying us??

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"And like Web, I enjoy throwing JR under the bus.  Problem is, it's usually under the special bus that I ride every day". Ghostdancer 12-18-09
confuzzed


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They will get you later in the year when some people end up taking unpaid time off.

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Mad Mema


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Exactly... they are basically getting you to use vacation they are going to have to ultimately pay you for when you take it anyway.

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JD The Jazz Doctor


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well yea. I guess I was banking on this cut only taking place in Feb, as it is our slowest month....any more and then folks will start running out of time..

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"And like Web, I enjoy throwing JR under the bus.  Problem is, it's usually under the special bus that I ride every day". Ghostdancer 12-18-09
Jeremy Riggs


2011 Super Bowl Champions!

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Gonna be a lotta cranky people around that place come October, November & December when no one has any vacation left.

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JD The Jazz Doctor


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....and they will be fortunate to have jobs.....no.gif

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"And like Web, I enjoy throwing JR under the bus.  Problem is, it's usually under the special bus that I ride every day". Ghostdancer 12-18-09
Jeremy Riggs


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That's true.

And I suppose, if you've got enough income that 32 hours a week wouldn't put you at a deficit for the month, this could be a welcome opportunity.

Too bad it's not July though when people could enjoy it more.

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confuzzed


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Or even May would be a better month to roll through with manadatory time off.

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JD The Jazz Doctor


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GM is cutting 10,000 jobs. Really, where are all these people going to find work?

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"And like Web, I enjoy throwing JR under the bus.  Problem is, it's usually under the special bus that I ride every day". Ghostdancer 12-18-09
MzHartz


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Speaking of, have you heard all the news that the President went to Elkhart yesterday because they are one of the cities with rapid job loss? They went from 4% unemployment to 15% in a year, and right now it's reaching 20%. My mom's part of that 20%. Luckily, my aunt got a job at the hospital, my stepdad was one of 3 people in his whole shop that didn't get laid off, and my step-grandma plans to retire in a couple months.

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confuzzed


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That rate is incredible. I hope everyone can bounce back quickly.

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squonk


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So, this is where we cut down the job we have? My boss is a f-in' stupid sh-t. Hunt N Peck on the keyboard. He's the head of a digital print group, don't you think that know the home keys would be the first pre requisite? Oh, for sure don't bother the people that know what they are doing. Ask yourself, "self, what can I teach myself today?" (how to keep wacking myself and continue getting a raise!) DORK!!!!!!!!!!

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garougal


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It was sad, but yesterday afternoon I discovered a coworker in my department was laid off, along with 3 other FT and 2 PT staff. The guy had been here for somewhere around 17 years, and this was his dream job. cry

I know that's not a lot of layoffs, but it's just painful to see this happening to so many...especially when it hits close to home.

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Mad Mema


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It really doesn't matter if it is one person or thousands of people, it is hard to see someone lose their job. I've been through this many times in the last several years, but it is no less heart wrenching.

Speaking of which... on the news this morning. Pioneer is laying off 10,000.

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That which does not kill me postpones the inevitable.
JD The Jazz Doctor


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Seriously, what the hell. Where are people going to find jobs? Here we are worrying about banks and foreclosure rates etc well its just going to get worse without people having their jobs.

I understand businesses not wanting to operate at a loss, but how many businesses are laying off people to maintain profits? jeez, be ok with breaking even at the end of the quarter, year etc.....

maybe thats where the bailout money should be going- towards sustaining businesses so that they don't operate at a loss this year, thereby preserving jobs.....?

sounds a bit to idealistic I know, but seriously. where are people going to find jobs?

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"And like Web, I enjoy throwing JR under the bus.  Problem is, it's usually under the special bus that I ride every day". Ghostdancer 12-18-09
confuzzed


Permanent State of Confusion

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Logos in crisis -



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WebGuy


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I love the Xerox one. laughing.gif

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MzHartz


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WebGuy wrote:


I love the Xerox one. laughing.gif


I agree, that's the best one.

 



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