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Originally Posted by JSH
Well we have seen the first real effects from COVID 19. My wife’s company just had an all staff meeting to announce the company’s COVID 19 “Stimulus” plan. It took an hour to say what could be said in 1 minute. No bonuses this year and company wide pay cuts on a sliding scale from 0-25%. People making less than $65K have no cut and it progressively increases from there. No slow down or reduction in hours. They didn’t let any contractors go and they keep their full pay.
How brain dead do you have to be to call a pay cut a “stimulus”?
We will be fine and a sliding scale makes a lot of sense. However nobody is happy that the company decided to cut employee pay before letting the contractors go.
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The place I work announced a pay cut for all white collar jobs lasting this entire year and a mandatory day off ever 3 weeks along with cancelling shut down and requiring anyone who can work from home to do so.
Considering we are entering a depression this type of thing certainly isn’t surprising and I expect more surprises the longer this extends.
Our country simply does everything wrong to financially or even logistically deal with a period of downturn like this many will be wiped out because of the high level of day to day expenses, least of which is wages.