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"Industry Standard" Paycuts in IT?
noGarnishMe! asks: "I was just reading about a Chicago-based company that has told all its employees earning over $60K/year that they will have to accept a 50% percent paycut for the month of May. This cut might be necessary in these times but keep in mind that the bozos in senior management just finished buying up several failing companies and paying some large bonuses to themselves. The memo announcing the cut is here. This cut, coming in such large chunk and in May, seems like a draconian shot to boost the 2d quarter financials. True, the annual paycut of 3.8% is modest but it ignores that fact that many folks won't be able to pay their May bills with only half their salary. I know that many of us have been through rough times these past 18 months and so I ask, what has been the approach at your company?" There are graceful and non-graceful ways for a company to handle a lack of cash flow. In the scramble for survival, especially in an economic downturn, many companies are caught off-guard and have to show their shareholders that they are doing something to get the company back on the road to profitability (which seems to be the issue, here). In many of these cases, the group most affected by such changes are the employees. It would be interesting to note how many of you have gone through this before and what you had to do to survive the shortfall.
I worked for those fuckers. I took the special "4 week" plan back in January... man, am I glad I left that job. Apparently our department is having trouble getting approval to buy RAM.
- A.P.
"Remember when the U.S. had a drug problem, and then we declared a War On Drugs, and now you can't buy drugs anymore?"
Sure, they are saving money on wages, but think how much their paper and toner costs are going to go up with all the resumes being printed.
No Backups.
:)
/*drunk.. fix later*/
You can usually cut dead weight at a company pretty easily by organizing them in alphabetical order by title, and going down the list firing people until you have enough money to pay everybody else.
Chief comes before Programmer, Executive comes before Technical...
Do daemons dream of electric sleep()?
Maybe they should Roll Their Own Business Desktops as a cost saving exercise. Makes about the same amount of sense.
Everyone will start to cheer when you put on your sailin' shoes.
Which category does "subscriptions" fall under?
Karma: Good (despite my invention of the Karma: sig)
And if you can find any executives who got bonuses, flog 'em mercilessly until you feel like you've gotten half your salary's worth.
Eloi are stupid, throw morlocks at them!