Saturday, March 21, 2009

Companies Cutting Back

We are in a recession with a capital "R" right now. And companies are letting their employees know it. Laying people off, cutting salaries, reducing benefits, eliminating 401k matches and scaling back hours are just some of the cost-savers companies are doing to boost their bottom lines. It seems like almost everyone I know at least knows someone who has been affected. What's going on at your work? How is your company cutting back at your expense?

Do you think all this cutting is necessary? Or do you think some companies are just using the bad economy as an excuse to take away things from you or for getting rid of some of your co-workers? Is it just conspiracy-thinking or is it a legitimate concern right now?

8 comments:

Anonymous said...

A certain employer in WDSM has let people go in underhanded, cowardly ways and laid off others, taken back 2009 raises & 401K matches, even tho the president & owner of the company still flies the company jet via to and from Scottsdale, AZ on weekends to their "winter home" The owner could care less about the workers who make the money for him....There is an old saying what goes around, comes around. I am a firm believer in that phrase and have seen it happen time after time. So he might want to get ready for his, because the days are numbered...

Anonymous said...

My cousin worked for McAnich for 31 years and was the highest paid forman. He was laid for lack of work but they have picked up 3 new jobs in the last two weeks. I think they are trying to cut out the older, higher paid staff. Way to go Dewayne!

Jill said...

My company has a hiring freeze and isn't giving raises. We don't know when it will end. I wish we did!

Anonymous said...

I have no doubt that my wife's company (which used to be a family-owned business) is using the economy as excuse for cutting salaries and staff. I don't blame the local management as much the out-of-state corporate heads who've made crippling cuts in the DM location because they have no idea who actually does what, nor do they recognize that the DM location is the only one MAKING money and providing a product to the consumer. The other locations, as near as anyone can tell, produce nothing but bonuses for the management.

L

Anonymous said...

I worked for a private practice, dental and as soon as recession news started he bragged would not effect him....but he cut sick time, and other benefits for the employees as he was sure there would be no way anyone would quit as jobs are limited. The business did 50% more than the year before???? He can stockpile his money but employees aren't entitled to sick leave???

Union member said...

I work at Thombert Inc. in Newton. Since December a total of 27 people have been laid off,4 in their other, non-union plant in Brooklyn. Our contract is up in July. So far none of the management "team" have been laid off. Also they just finished remodeling a $60,000 meeting room, $20,000 for updated bathrooms, and a $30,000 fork truck, not to mention the $150,000 we saved them last year with scrap costs. But they say times are tough......

Anonymous said...

I find it interesting when companies, or hospitals in this case, lay so many employees off so they have a 'bare bones' crew and then have to have the remaining employees work overtime to complete the work that needs to be done. Tell me how they are saving money in this manner.

Anonymous said...

Isee nothing here on the state playing with the income tax schedule. they may try to say they will adjust so lower income will benefit from this.this has to be a lie because in my wife`s and my case it will nearly double our income shown to the state, more of paying taxes on money all ready taxsd.very well time for tea party`s