Ugggg. Just found out my husband is getting his salary cut

[Jack&Ryan'smom]

Loyally does mean nothing to businesses in the economy. I work part time for a major retailer who after I've given 23 years of service is cutting my pay by $6 an hour. It sucks and is hard not to feel stabbed in the back!
Good luck to your family!

 

[MissVeronica]

I'm so sorry. That is a big cut. ((hugs))

 

[cndij]

I've been there its no fun. 4 years ago, I lost my job suddenly after 28 years with the company. It was at the worst time for finding a job, and I was out for 18 months. Everybody's budget and expenses are different, but some of the things I did, were stop eating out (was a huge budget buster for us, even if most of it was takeout), cooking at home and focusing on cutting waste (I froze leftovers and bits of produce for soup etc.,) and I also started really focusing on couponing. It was like my new job was to save money in the household. I also cut our newspaper to Sunday only (couldn't miss the coupons lol), cut cable down to basic, the out completely with a digital antenna and converter box (I know it depends on where you live how well this works).

I hope this is just short term for you, and he can bounce back to regular pay soon. I too now work in Health Care (I thought it was stable compared to printing/graphic arts where I came from) and they are asking us to take one day off per 2 week pay period to cut their payroll expense 10% without laying anyone else off. For now its just through the end of the year and they will re-evaluate.

 

[Shelly F - Ohio]

Look at the positives. At least he still has an income. Yes it will be smaller but as least he has money rolling in. Just think how worse off you could be if he did not have an income at all. This will also allow him to maybe explore the option of finding employment else where but still have a paycheck while he looks.

Now is a good time to think about all the ways to trim the fat and see where you can pinch those pennies.

Keep your chin up.... you could be far worse off

 

[mouselike-harrier]

I'm sorry. That happened to us this year also. DH found out just 5 days before our Alaska cruise that his paycheck was being cut $400 every pay period. I'm not going to kid you, it's been very hard for us. We cut cable to basic, dropped a cell phone, strictly limit the kids' takeout, no dinner out, and I found other cheaper places to grocery shop. I'm looking for a job, but haven't found anything yet. Good Luck; you will get through this.

 

[lheav09]

My family is with yours. DH works in the facilities department in a hospital and they just found out the hospital is selling the department. They won't go into detail about benefits, pay, or anything and this is happening the 1st. We are freaking out because we are having a house built, and due to close the end of January. This could possibly cost us the house, we had to move out and rent out our previous house due to the neighbor pulling a gun on my husband and threatening him for no reason, the police didn't do anything but we knew we had to get out! We are currently staying with my parents in their basement but it's very real because of the change in his job, like if he gets a paycut or anything, we could lose our house. We have no idea what we will do then.

 

[goodfood4ursoul]

Honey, I don't know what to say except I am sorry, hold tight and keep the faith.

You've already received lots of good counsel about cutting expenses.

I would add that in the climate of job losses and businesses shrinking that we face today in our country,
it is a good idea for everyone to try to keep their expenses lower than they normally need to.

We try to have a cushion of some kind: money, food, extra supplies so that in case you have to cut expenses, you have some extra resources to fall back on.

One never knows when junk like this is going to happen.

Just because times are better now
(we've been unemployed and under employed and it's only in the past 28 months that both of us have been fully employed out of 24 + years of marriage) doesn't mean we spend everything.

We still don't have cable tv, we still pack home made lunches,
we still watch our travel by car and keep it to a minimum to save gas money.
We don't do movies unless it's the cheap theater ($1 to $1.50 a ticket) and that is only about 4 times a year.

We only spend perhaps $300 - $400 for Christmas- in total - for everyone.
But one year all we had was $20 because that's all that was left after we got oil for our furnace.

Before you start to have pity on poor ole' pitiful me,
We also have a freezer full of food, a stocked pantry (sales, coupons, markdown meats)
and a generator with extra gas if we should lose power,
wood stoves for heating and cooking and plenty of wood to burn in them.

But the bottom line is that when hard times hit we lean on our faith and God provides.

Bad times, good times, they come and go.

When times improve, prepare for bad times.

 

[lvillotta1]

This is why it is critical to live way below your means. Being debt free except your mortgage is the only way to have financial freedom. Having a 6-9 month emergency fund is critical. No one is exempt in job loss,pay cuts,increases in insurance. Throw loyalty out the door and start looking for a better job.

 

[MrsPete]

There's more than one way to get rid of employees, and this is one of the most underhanded. They want someone to leave, but they don't want to pay a severance package or unemployment benefits . . . So they slash salaries, and they know that someone will leave as a result, and they won't have to pay if the employee leaves on his own.

I'm sorry you're the victim.

 

[manning]

I remember when I first started working. The old timers where beginning to retire and they worked during the depression. I would hear them talking about how the company cut back on hours to make no one got laid off. They made enough to put food on the table and to keep their homes. It seems the good times and the bad times go in cycles.

 

[Viva Las Disney]

Is this because of the Affordable Care Act?

I work a tipped job in Vegas and my income took a massive hit in 2008 (around 50%) when the recession hit but has slowly been recovering (probably still down 20%), with the economy slowly recovering it just seems like a weird time for such a huge cut.

 

[java]

Happened to us several years ago. Sadly we found out in a paycheck! No notice just 30% less one week. Then they told him.
He is no longer there. It hasn't been easy but it is finally (3years later) starting to get a little better)

Good luck to you.

 

[believenfaith]

Is this because of the Affordable Care Act?

I work a tipped job in Vegas and my income took a massive hit in 2008 (around 50%) when the recession hit but has slowly been recovering (probably still down 20%), with the economy slowly recovering it just seems like a weird time for such a huge cut.

It may be a piece of it, but it isn't the entire reason.

I work in a hospital. Over the last 20 years, utilization on inpatient beds has steadily decreased. There are more resources put into keeping people out of the hospital. Patients that are admitted are there for much shorter periods of time. It is a combination of many factors and hospital systems are struggling with making adjustments.

 

[DisneyFansInLINY]

I am sorry. I know how you feel. My husband was just told that his company is cutting back as well. He will be making less as well as paying more for our health insurance.