So here's the skinny...we had our office meeting this afternoon. Up until 3:15PM, I had been keeping busy. But as 3:30 PM approached, "what if"s started swirling around in my head. I sat in the front row for the presentation b/c I didn't want to miss one detail.
I already wrote about how the economy has affected me here. Back then, I was pretty optimistic. Now, I'm not as much.
The Prez made 4 recommendations for the employees to stay in financial control during this time of "crisis".
1. Come up w/a plan to live on less.
2. Save 6 months worth of emergency funds.
3. Lower credit card rates.
4. Pay off mortgage before retirement.
OK, none of that was a shock to my system. Every financial book that I've read says the same thing. It was the next segment that confirmed the rumors and had everyone shook.
Here's how the company plans to remain in control:
1. Freeze staff salaries until further notice.
OK, I can understand that.
2. Freeze $1500 referral bonus.
Fine, I never got that anyway.
3. All hiring will be suspended.
Cool.
4. The 401K match will be suspended.
I may need to temporarily decrease my retirement fund contributions.
5. Re-evaluate company credit card usage.
Doesn't affect me.
6. Monitor company educational courses.
I'm fine with this also, b/c my classes would sometimes conflict with my deadlines.
7. Reinforce client relationships.
I hope that they do.
8. Negotiate good fees.
I can get with that.
9. Work hard and stay calm.
That's a tall order for me right now, b/c of 10.
10. Reduce staff.
I have a mortgage and a kid.
Now, the Prez said that the company would strategically reduce staff. And I don't know what the timeline is, but I'm thinking that it'll be within the next 2 months. I cannot lie...I'm nervous b/c that word "strategically" can take on different meanings within the corporate world. Some people were moved to tears. I'm not quite there yet. The only thing that I can think to do is pray and ask others to pray for me. I have made it through some hellish situations, but I'm tired of things being taken away from me. It took me 2 years to rebuild my life after Ka.trina. I just can't fathom losing ground now.
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8 comments:
Well, I hope that they don’t think about cutting you loose and I don’t think that they will. Being honest, (and you know I don’t pull punches LB), from a management perspective you have to make sure that no matter how you downsize, you have to match gender and race. I hate to say it, but it’s the truth. No one wants to be sued right now. It was a discussion that we had at the day job just two weeks ago.
I used to complain about my own situation. For years I could come and go as I pleased at the day job. I had an “agreement” with them. Hell I didn’t go in days at a time. But now, because the staff has been cut back, I have to show up every day. Okay, most days.
I used to complain about that…I don’t any more. Not after I saw people losing their jobs. It was then I realized how blessed I am.
I’ll work 70 hours a week now if they wanted me too.
I can sympathize with you. I've never lived through a storm that consumed all I owned, but I do know in the power of prayer. I'll be praying for you. Until then, Imma beat you with If you gon pray why worry, if you gonna worry, why pray.
I'm praying for you. I know what you are going through because I just went through it.
In the beginning of September they were hinting about downsizing. It was confirmed a month later when we were told that our salaries would be protected until 31 March.
I couldn't wait until then so I started reaching out to my network and examining the possibilities. I couldn't wait around for corporate to determine my fate ... I had to make moves for myself because I have a mortgage and two kids. I found another job in my field making more money within two weeks.
It'll work out. God hasn't failed you yet and he's not about to start now.
make your plans accordingly, do not trust them.
I'm praying for you over here. You know I told you that my co. was laying off 500 people countrywide and who knows what else they are going to do. But I keep telling myself that God has always taken care of me and he won't stop now.
I think Chele hit on what was key here...
"God hasn't failed you yet and he's not about to start now."
Keep focused on that truth right there. Because it's the truth.
i got the prayers out for you. be proactive like chele. do NOT trust that your gig will be there.
I got a similar email on my job late last week about "conserving". No word of layoffs as I work for a food company and "everybody" gotta eat...LOL! But you are in my prayers and I agree with the other blogger....dont worry, just pray, and if you're gonna worry dont waste your time praying.
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