Wednesday, March 11, 2009

It Hits The Fan

Well, now I know at least a little bit of how Jennikki was feeling a while ago. My company made an announcement today that directly effects me in a major way. First of all, there will be no cost-of-living raises this year. There will be no annual bonuses this year or next. They are greatly decreasing the amount that the compamy matches in 401k contributions. And here is the real killer: I have to take a pay cut in the form of forced no-pay days off- one per month for the next six months at this point. This equals about a $140 a month pay cut for me. That's my groceries. That's my meds.

I will either have to tighten my belt to a painful degree, or start dipping into what little savings I have to live on. There goes most of my income tax return. So much for playing the good consumer and helping the economy. Those HD TVs that are on sale- I won't be buying one. Or a new computer. Or anything. The stores will not be seeing my smiling face. I'll be lucky to be able to afford food. It's a good thing that gas prices are still reasonable.

Don't get me wrong, I am still greatful to have my job, my benefits, my home, my pets, family and friends. This is a big hit, though. And I worry a lot about what's next. At this point I find myself waiting with anxiety for the other shoe to drop, as they say.

I need a drink.


  1. You and everyone else. We had almost the identical announcements as you got. (Hey, are we working for the same company?) lol. We haven't been told about days off with no pay YET, but I can see that happening here, too. Gets scarier all the time. The malls are empty right now. Hardly anybody there. This is just getting worse all the time. When are we going to see things on the upswing? We haven't even bottomed out yet. Hugs.

  2. I am sorry to hear that news for you.
    It is scary out there.

  3. Xanadu- I work for a major foreign automobile manufacturer. We have people in the malls here, just no one buying. Who knows when we will hit bottom...

    Justfly- Thank you. Yes, it's not very encouraging.

  4. We have similar issues. I got my 401k match cut in January. At one time they basically gave me 10% above and beyond my earnings in company stock. When we sold that went out the door too...

    Knuckle up buddy. Saving money and being cheap can also be a game that is fun to play in light of all the horror on the landscape.

  5. Oh man, I am so sorry! That really blows. You want to be grateful to have a job, but at the same time, you're asked to do the same amount of work or more for less and you're not able to keep up with the basic necessities of life.

    It blows. I wonder how much of a hit the higher-ups at these companies are really taking??

    I'm so sorry. If you ever need to talk, I'm here.

  6. Bobby- Being cheap is what I will have to do for the foreseeable future if I don't want to touch my savings. I just hope that we are at least close to the bottom of this thing.

    Jen- Thank you. Supposedly our higher ups are having to do the same thing.

    What I don't understand is how/why the company is at this time spending $118 million to expand one of the factories, a factory at which they have recently cut shifts and work days. It makes no sense to me.

  7. It looks like they may have tried to do their best to not have to lay more people off. I dunno, but not being able to buy an HDTV really isn't a bad thing. There are people out there that have legitimate complaints about not being able to eat three meals a day.

    I think you are lucky!