I'm freaking out.

[java]

back in December right before Christmas DH got his bonus and then was told with the "ECONOMY" the way it is they needed him to take a 30% pay cut. Along with everyone else at the company. Fine. We dealt with it. I slashed our grocery budget, saved on insurance, sold some things. And we're getting by.
Well today they told my DH that instead of the one week off that we are heading to Disney for- they are going to also close the week after - no pay. AAARGHHHH!!! I think what I am most mad about is how last minute this is. I would have traveled different dates had I known. I also could have extended part of the trip. But not now. It will be too $$ and we will be short $$ in the month thanks to the week with no pay.

If the business was slow I could understand. But they are swamped. And a week off without pay just means they will all get slammed when they get back.

I hate the stupid economy.

 

[Shir Kahn]

Ouch, that's pretty horrible timing by them. Sorry to hear it.

 

[terri01p]

Well we are basically in the same sinking boat. We went to disney in April and we were really counting on my dh bonus check it should have been 1400.00 and at the last minute they cut it in half due to the "ecomony". It really put a dent in our spending. Now the company is saying that everyone needs to take a pay cut...is the ecomony that bad or are companies just jumping on the band wagon???? My dh said the company is doing more business than ever so I just don't get it. What makes it double bad is that my dh has been there for over 20 years so he just can't up and go to another company so easy.

 

[Debbiebee68]

I TOTALLY agree with the posters who assert that some people are using "the economy" as an excuse for being cheap and they are getting away with it. I have had parents tell me that they can not afford to pay for the senior field trip ($50), yet that does not stop them from prancing in with Coach and Gucci bags and the kids walking around with outrageously expensive sneakers. There are plenty of people that the economy has simply wiped them out and my heart truly goes out to them. Others are using it simply as an excuse that no one questions.

 

[mousefan1972]

I really do think alot of companies are jumping on "the economy" bandwagon as a reason to be cheap. I work for a for-profit rehab network. Our fiscal year just ended May 31st. Our outpatient clinics did 5,000 more visits than the previous fiscal year. But, the CEO is considering freezing wages due to "the economy". Which would be a very bad move if they do, because there are still plenty of physical therapy jobs out there, despite "the economy". They will lose a lot of good people if they do this.

OP. I hope things get better.

 

[clutter]

Realize that some companies may not have cash available like they did before. If your company had a line of credit that they used to pay expenses while waiting for payments (the rehab is a good example - they have to wait for insurance reimbursements and they take time), they have probably had them either shortened, called or they are in default. So some companies have a cash crunch until they get the issue resolved.

 

[Lashawn131]

I truly sympathize with your situation because I'm in the same boat because of the economy my husband is not working the way he used to so i'm the main supporter of my household. I've planned this vacation way before the economy took a dive and it will cost too much to change plans now. We've had layoff and people hours were cut from my job. I believe a lot of employers are nervous because a lot of big businesses have or are going out of business. Some are using the economy as an excuse, but then there are a lot of companies operating now on cash reserves. Unfortunately, the economy didn't take a dive overnight and it's going to take some time to bounce back, but it will. Let's just pray that this is the worst of it. Don't let it ruin your vacation. Everything will work out for you.

 

[SleepyatDVC]

DH's company had their BEST year ever last year. More work than they could handle and VERY profitable.

His boss used the excuse of the "worsening economy" to cut their bonuses by 60% in December. They were suppose to get some of it the first quarter of 2009 but that never happened because the economy was "worsening even more."

They are still very busy but most of the work was a continuation from last year. The newer jobs coming in are much smaller and less profitable than before. Clients are slower to make payments and even those with contracts are trying to renegotiate their deals.

So, it IS an excuse but DH says he understands from a business point of view. They are trying to weather out the down turn and keep the company in the black. His boss actually told everyone that they needed to work HARDER for less in order to keep them competitive. He is not paying out those bonuses and raises in order to have a reserve so that no one needs to be laid off when the jobs drop off.

So, they say... It makes sense, but it SUCKS for all the hard working employees. And if the economy continues to "worsen" and the hypothetical reserves get used up, then there will probably be lay off anyways.

DH says it is actually in the company's best interest to "cut off the dead weight" now - seems he could name quite a few. But I guess it is something that the company wants to avoid and he can understand that too.

 

[java]

My dh's company is small (which always scares me that it could just disappear) at the time of DH"s pay cut they fired 2 people. Cut the work week for 2 others down to 4 days plus the pay cut. And then just dh got to keep the full time(along with the owner)
So it's only 4 of them now. But I do feel like he is in a way better position than the other 2 people. So I guess I should be grateful

 

[MoniqueU]

I don't have any advice just sympathy. That would definetly throw a huge monkey wrench in my life right now. I hope you can at least get some happy moments out of your trip and that the companies bottom line picks up soon and things can get back to a better place for you.

 

[McKelly]

Well we are basically in the same sinking boat. We went to disney in April and we were really counting on my dh bonus check it should have been 1400.00 and at the last minute they cut it in half due to the "ecomony". It really put a dent in our spending. Now the company is saying that everyone needs to take a pay cut...is the ecomony that bad or are companies just jumping on the band wagon???? My dh said the company is doing more business than ever so I just don't get it. What makes it double bad is that my dh has been there for over 20 years so he just can't up and go to another company so easy.

I wonder this too. My DH has had his hours cut to 32 hours a week for the last two months, due to the economy. His boss, (at a company retirement party with an open bar) told everyone NOT to worry, because "he" was still making money. I was so ! Great, so belly up to the bar, and have another true confession as the company drinks away my family's extra couple of bags of groceries, because Hey! THE BOSS, is still making money, so no worries!!

Same thing, my DH has 18 years in the company, decent pay, 3 weeks of vacation, soon to by four, seniority. You just can't walk away from that, but with comments like that...............geez. The boss really needs to control his loose lips.

 

[Soulsearching]

Well that just stinks!!!!

I do believe that some companies are definitely using the economy as an excuse to cut expenses and just overwork the employees who should be *grateful* that they got to stay.

With that said. There is no changing what has happened.

Java, it sounds like you, your husband and children really need to just get away from it all and just enjoy a vacation. With all the stress in your household right now, it just is so needed to have some fun with the kids.

Put the stress on the back burner for this one week and then deal with it when you come back. Everything will fall into place. Enjoy your family for that one week, they can't take that away from you.

I have know you as a cyber friend for a while and I just know you will be able to pull this off.

Wishing only the best for you and your family!

 

[SnowWtch]

I think there is a problem with the economy but some companies are just using things as an excuse now so they can save money in case things get worse. I have a state job so we rely on the state budget. We took a hit but at least in our area people get to keep their jobs. Here's to hoping things get better soon.

 

[BeenHereB4]

Is it possible that your DH's company maybe took a huge hit on their investments, etc.? I would guess lots of these companies don't have the backup funds they once had.

My part-time job just ended (today's my last day) because for the past year my boss has paid out each month more than he's brouht in. So that back up account is low.

My DH's company is cutting back BIG time. Many are still running scared as things are still bad, we're just not hearing as much about it anymore for some reason.

Sorry for what you are going through. This month we are loosing 2 weeks pay for other reasons and my part-time income and it is NOT easy. That 2 weeks has to come from our savings which is a scary thought.