PollyOR Posted February 19, 2009 Share Posted February 19, 2009 Two of DH's BILS have taken a pay cut in the past month. Now DH has joined them. Any other hive members still have a job but with reduced pay? BTW, my heart goes out to those of you who have lost a job. Quote Link to comment Share on other sites More sharing options...
SapphireStitch Posted February 19, 2009 Share Posted February 19, 2009 I'm so sorry you're having to go through this. What kind of adjustments have you had to make to deal with the decrease? We found out a couple of weeks ago that my Dh's employer (medical school that's part of a private university) is planning to do "salary re-evaluations" soon. The spin is that they need to make sure they're paying valuable faculty members enough so that they don't go elsewhere. In the process, staff as well as faculty might get raises. Of course, the first thing that popped into my mind was "And they could just as easily get salary cuts instead, right?" Dh said that part was kind of glossed over; obviously they don't want anyone panicking. Dh is not faculty, so obviously he's not among the precious ones they're trying to hang onto :tongue_smilie:. His department, and especially the section he heads, make good money for the school so for now his job is probably safe. But a salary decrease might very well be in the works. I'm trusting that God will provide everything we need; He always has...and also a lot of things that are just wants rather than needs. But I'm also looking for all kinds of ways to cut the budget. I am thankful that they didn't just spring this on us, having time to prepare is helpful. Quote Link to comment Share on other sites More sharing options...
Night Elf Posted February 19, 2009 Share Posted February 19, 2009 My DH just got word from upper management today that all employees of Hewlett-Packard will get a 5% pay cut along with some other financial perks being dumped. We won't have a stock program anymore. That's going to lose alot of annual income. I had to talk to the kids today about it. Things need to tighten a little. I just wonder if we'll see more of a paycut later. Quote Link to comment Share on other sites More sharing options...
Guest janainaz Posted February 19, 2009 Share Posted February 19, 2009 Yes, my dh took a big pay cut. We have some money in the bank, but when that runs out - who knows. I'm thankful he's employed and I pray that he gets to keep his job. Quote Link to comment Share on other sites More sharing options...
lori in tx Posted February 20, 2009 Share Posted February 20, 2009 WE took a big paycut also... and this is our lean time and we are really feeling it. But in a couple of weeks (spring) it will start to not be as bad. Quote Link to comment Share on other sites More sharing options...
Stacia Posted February 20, 2009 Share Posted February 20, 2009 Yes, that sort of describes our situation. Dh was laid off last week, but some contacts at the company scrambled at the last minute & were able to put him in a much 'lesser' job, allowing him to keep benefits & his vacation. However, our income just got cut by about 40%. On one hand we're thankful he has anything, otoh, it's a pretty tough situation. Quote Link to comment Share on other sites More sharing options...
FO4UR Posted February 20, 2009 Share Posted February 20, 2009 My dh is feeling some squeeze. His boss is upping the hours of salary/cutting hours for hourly wage workers. Health benefits are cut every year - I HATE to imagine what they will look like next time we re-evaluate our benefits (when he started it was the running razz for young couples that UPS babies cost $10.......gone are those days). Dh is salary so he's working more, and not getting paid more. They quit matching 401's.:001_huh: Thankfully, this is dh's last semester in school b/c it's the tuition reimbursement from his job that has paid for his schooling - I have a feeling that tuition reimbursement will be high on the cut list. Ahhh....in 3 months we will have made it through seminary! Now, what???? ....feeling like those fish at the end of Finding Nemo:tongue_smilie: Quote Link to comment Share on other sites More sharing options...
Allearia Posted February 20, 2009 Share Posted February 20, 2009 My dh gets "bonuses" as part of his compensation, and unfortunately we have come to rely on them. So of course that is easy for the company to cut right now. It is a big percentage of his regular pay so it is hurting right now. Quote Link to comment Share on other sites More sharing options...
gamommy Posted February 20, 2009 Share Posted February 20, 2009 This may be a reality for my dh next year as a public school teacher. They are talking about cutting 2 weeks out of their contract and out of their salary. Right now they are paid for 190 days, but the students report 180. They have a couple of workshops and have mandatory days at the beginning and end of the year. It would be unfair in the sense that the job responsiblilities would be the same so he'd actually get to *not* work maybe 2-3 of those days. And of course, the rise in the costs of health benefits in 2008 actually more than negated his raise and resulted in a small pay cut in take home. Quote Link to comment Share on other sites More sharing options...
clementine Posted February 20, 2009 Share Posted February 20, 2009 My dh had to go to a 4 day work week - it will cause a strain, but if we tighten our belts, we should be fine. It's so scary how wide-spread all of this is - I just want to see an end in sight. Best wishes to all of you. Quote Link to comment Share on other sites More sharing options...
Gini Posted February 20, 2009 Share Posted February 20, 2009 My dh works for a Japanese auto parts manufacturer. Instead of making a pay cut, they're mandating that each salaried employee take 1 day of unpaid leave every month. So, my dh will be working 12 less days per year without pay. Interesting. Quote Link to comment Share on other sites More sharing options...
Liz CA Posted February 20, 2009 Share Posted February 20, 2009 Two of DH's BILS have taken a pay cut in the past month. Now DH has joined them. Any other hive members still have a job but with reduced pay? BTW, my heart goes out to those of you who have lost a job. We are sort of between significant cut and unemployment. Dh gets called in when there is something to do and gets now paid hourly instead of salary. Don't know how long we can hang in there like this. Quote Link to comment Share on other sites More sharing options...
MommyX8 Posted February 20, 2009 Share Posted February 20, 2009 We took a 40% pay cut a few years ago. We still aren't back to where we were. Quote Link to comment Share on other sites More sharing options...
Lovedtodeath Posted February 20, 2009 Share Posted February 20, 2009 (edited) Yes. 600 a month. Sometimes there is nothing to cash for a couple of months. We got a home equity loan and I am applying for a census job and every work at home job I can find that doesn't require child care. Edited February 20, 2009 by Lovedtodeath Quote Link to comment Share on other sites More sharing options...
joannqn Posted February 20, 2009 Share Posted February 20, 2009 Back in October, DH got a pay cut that amounted to a $1,000 loss in net pay. We couldn't pay the bare bones basic on the new pay so we chose to use it as an opportunity for him to start his own business. He quit then cashed out his tiny IRA (about $11,000 is what we got after penalties) to give us something to live off of while he builds the business. Quote Link to comment Share on other sites More sharing options...
shalom22 Posted February 20, 2009 Share Posted February 20, 2009 My DH just got word from upper management today that all employees of Hewlett-Packard will get a 5% pay cut along with some other financial perks being dumped. We won't have a stock program anymore. That's going to lose alot of annual income. I had to talk to the kids today about it. Things need to tighten a little. I just wonder if we'll see more of a paycut later. We just got the same word today. My dh works at HP as well. So we are in the same boat. Quote Link to comment Share on other sites More sharing options...
bbsweetpea Posted February 20, 2009 Share Posted February 20, 2009 My DH got a 5% pay cut (whole company did) and there is no longer any overtime. OT paid was 25% of his pay. They are also shutting down the company at least two weeks this year. We have to use vacation time in order for him to get paid. Quote Link to comment Share on other sites More sharing options...
PollyOR Posted February 20, 2009 Author Share Posted February 20, 2009 40% ouch! DH also works for HP, but he is lower on the totem pole. He said the pay cut would be 2.5%. He hasn't told me about benefits yet. He likes to keep me in the dark, because he knows I worry too much. I am VERY thankful that he is still employed. I don't know how we are going to cut back. I know we can, but I think I'm still in denial. The first thing I did when he told me that a pay cut had been announced was to start doing an inventory of our homeschool materials. I was trying to convince myself that we can school without anymore new purchases for at least a couple of years. You think I would have headed to the kitchen to check our food supply, but nope, I went straight for the curriculum. :lol: Quote Link to comment Share on other sites More sharing options...
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