February 6, 2009

My Company Laid Off 4 More People

My company laid off four more employees this week, including my boss. That drops us down to 28 total employees. Thankfully, my old boss has come back over from our sister company to act as our new General Manager. I really enjoy working with him and am convinced that if anyone can help see our company through these challenging economic times, he can. Plus, I’ve stayed in touch with him since we last worked together and have been playing cards with him and some other friends every Wednesday night for the last few months.

These additional layoffs helped minimize the salary reductions that the rest of us have to take. I found out today that my salary will be reduced 10% (from $70,460 to $63,423), beginning with my 2/25 paycheck. I expected a salary reduction of up to 25%, so needless to say, hearing it will only be 10% was a blessing.

3 comments:

Kristy @ Master Your Card said...

That's good news, 1Man! I'm glad to hear you're keeping your job and not having to take the additional pay cut.

While I'm happy you're not being laid off and all, I really hope you have some back up plans! Have you been networking with others in your field, looking for possible open positions in case something were to happen with your current job?

Well, I wish you the best and I hope we all make it past this economic slump, and soon!

1MansMoney said...

Kristy- Thanks! I'm working on some back-up plans and we plan to save as much cash up as possible to see our way through this.

-1MansMoney

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