Just received notification that we will be entering a no overtime period, and that my schedule will be moved to accommodate another employee's schedule to cover the OT usually spent by me waiting for him to show up.
This wouldn't be so bad if my raise wasn't predicated on a somewhat predictable amount of overtime. Sans OT, I'm down about 13k a year.
They're obviously aware how much pay they'll be cutting. Time to start considering my options. Particularly those options in states that don't squeeze small businesses.
If they think I'll be working unpaid overtime, they're nuts.
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I have been in the same situation for several months now. Basically a 28% pay cut.
OT is a thing of the past at my company. Raises have been scarce, a total of 6% over the past 5 years.
It is a good thing we have based our bills on one paycheck with no OT.
That's a big cut JR. Glad to know you had been prudent in your bills. Too many are not.
Fortunately, I've only got one line of debt (my car). I've been paying down and eliminating my debt for years now.
I may not have tens of thousands of dollars worth of sweet kit, all bought on credit, but it makes me feel good to know I'm in real control of my finances.
(the problem is that building your credit depends on you having debt, and taking your time to pay it back, while paying out the nose in interest)
The troubles are hitting my place as well. Luckily I'm in Texas, so it isn't hitting as hard, and my department at work is still making money right now (it helps our biggest competitor is our biggest customer).
Although it has slowed up in my dept. I am in the midst of an annoying R/D project and my helper is doing all the work on making the stuff we need (hired as a helper for me and the other dept. but has been full on my time from day one) and we work 9 hours a day. Foam isn't working Saturdays, and Fab is not working the OT at all right now. Fab is losing lots of money right now, but there are orders in the works, but they are still in the design stage.
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