i just took a 15% paycut - ack!

Discussion in 'Archived Threads 2001-2004' started by Ted Lee, Mar 11, 2003.

  1. Ted Lee

    Ted Lee Lead Actor

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    i just bought a new car....figures! [​IMG]

    overall i'm being a pretty good optimist about the whole thing.

    1. i'm still employed
    2. i still make an okay salary
    3. i have a pretty decent savings

    but this is still gonna sting and put a serious dent in my dvd collection! [​IMG]

    bummer batman!
     
  2. Eric_E

    Eric_E Supporting Actor

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    Geez, man, I'm sorry. Can I ask what kind of work you do? Personally, I think I would seriously consider leaving my job if this happened to me.
     
  3. BrianB

    BrianB Producer

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  4. Marshall Alsup

    Marshall Alsup Second Unit

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    I know how you feel.

    I was just layed off about 2 weeks ago. The company I worked for layed off over half the employees, and since I'd just been hired only a month and a half before, I was first on the list. Everyone that wasn't layed off was forced to take a 15% pay cut. I felt SOOOO lucky to find a job after I graduated, only to lose it shortly after. All my buddies that graduated in December still dont have jobs, and they've been looking nonstop for several months. So remember, although you lost 15 percent, you dont have to face the job market [​IMG]

    Computer Science isn't what it used to be!!

    Good Luck,
    -Marshall
     
  5. Ted Lee

    Ted Lee Lead Actor

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    thx guys.

    i do software support for some call-tracking applications used by a very large computer company.

    even though 15% sounds like a lot (and it is), i still make a decent wage. also, compared to some of the people on my team i'm lucky - some of those guys took up to 40% hits! those guys took a bigger hit and still ended up making less than me. according to my manager she "fought for me"...and i believe her.

    with the job market being as lousy as it is here, i certainly won't be quitting anytime soon! [​IMG]

    marshall - good luck on your job search! i know you're in a tough spot but i wish you the best! [​IMG]
     
  6. MikeAlletto

    MikeAlletto Cinematographer

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    Its easier to find a new job when you have a job [​IMG]
     
  7. Peter Kim

    Peter Kim Screenwriter

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    Mike's point is a good one. When it comes to a job, it's not unusual that bad news is followed by worse news. Ted, I'm sure you've anaylized your company's situation - are you so sure that this paycut is not a bad omen, perhaps portending later, greater round of layoffs?

    The fact that your manager "fought for you" may initially assuage your fears and pride and sound good but may be in reality, code that worse action was intended and ultimately, eventual.

    I'm sorry if I sound gloom and doom, but look at our current state of economy, and more specifically, the state of the software industry - far too many of my friends have recently watched as their careers have been laid to waste.

    However, I can tell by your comments that you're a thoughtful and intelligent person. I cannot imagine that a person of your caliber would have problems either surviving your current condition or thriving in another.
     
  8. TonyTone

    TonyTone Supporting Actor

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    Ted--I'm currently in the same boat as you are, more or less; 10% pay cut--this after my medical/dental/vision benefit deductions got jacked up 50% two months ago. I'm on the hook for a $47K SUV purchase with really high monthlies due to putting $0 down on a 0%/60-month loan--really no financial advantage for me by putting any money down on a 0% interest car loan, hence my decision to accept the consequences of not putting money down to lower my monthly payments. Oh well, I'll just have to ride out the storm...and please, no comments from the peanut gallery about how unwise it may have been for me to make the kind of purchase I did given the state of affairs today--both in general and personal.[​IMG]
     
  9. MarcVH

    MarcVH Second Unit

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    I have to agree with those who say that bad news is likely to be followed by more bad news in the future. If you don't have a healthy savings account (6 months living expenses minimum) this would be an excellent way to redirect your DVD funds, as un-exciting as that is.
     
  10. Kevin P

    Kevin P Screenwriter

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    Think of it this way... a 15% pay cut means you get to be 15% less productive! Companies need to learn that they get what they pay for.
     
  11. Malcolm R

    Malcolm R Executive Producer

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  12. Ted Lee

    Ted Lee Lead Actor

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    thx for the kind words peter. [​IMG]

    i've always been pretty lucky with layoffs. i closed the doors at my other job (packard bell) and have survived prety well here. about five other people in my group have been layed off over the past several months - some of them were senior to me.

    my company is merging with another, but i think the worst of it is over. i don't think i'll be facing another cut anytime soon, but (obviously) i can't say for sure. if another one happens, then i'll have to seriously consider my options, but for now, i'm okay.

    i have about nine months worth of expenses in my savings, so i know i can ride out just about anything. the only debt i have now is my 4runner, but my payments aren't too bad. plus my girlfriend drives it so she pays for half of it.

    so tony...i "sorta" can empathize with you. hope things work out for you too!

    thx for your thoughts and for letting me vent guys! [​IMG]
     
  13. Carlo Medina

    Carlo Medina Executive Producer

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    Back in the early 90's some state employees (California) took a 5% pay cut - but at least the workplace told them that it was temporary and they could take 1 day a month off, without having it count against vacation or sick time. After a year or so the economy went back up and they recouped the lost salary. This is according to my boss who was around at the time (I was still a student). It was brought up recently because of the terrible shape that the CA economy is in (harkens back to that time in the early 90's) and they are trying to prepare us in case we get another 5% hit (hope not).

    Hang in there guys, it'll get better...
     
  14. Win Joy Jr

    Win Joy Jr Stunt Coordinator

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    Ted, one thing to ask yourself...

    Is the worst over, or just the tip of the iceberg???

    I got laid off with half of staff on September 6th, 2001. And we all know what happened 5 days later. I was out of work for 4 months before I landed my current position.

    Make plans, and start looking.
     
  15. Michael Mathius

    Michael Mathius Supporting Actor

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    This friday will be a month since I've been out of work but will be the first week without a paycheck. I hope that in a months time I will not still be at home.[​IMG]
     
  16. Ted Lee

    Ted Lee Lead Actor

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    good luck michael. i shamefully admit that i'm glad i'm not in your shoes. :b

    fwiw, i have found temp agencies to be helpful. they've helped me locate jobs in the past...all with decent wages. maybe that's something you could look into?
     
  17. Quincy

    Quincy Stunt Coordinator

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    15% is nothing I got laid off and had to take a 50% pay cut. Now I have to work 2 jobs. [​IMG]
     
  18. TonyTone

    TonyTone Supporting Actor

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  19. KerryK

    KerryK Stunt Coordinator

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    Since January I've been working only 4 days a week. Which is great, but I've also only been *paid* for 4 days, which is not. I am really sorry about everyone else's situation, but it makes me appreciate what I've got. I may have taken a 20% pay cut, but considering I worked a LOT of extra time before, I'm actually working much more than 20% less. (Does that make sense?) I also am fairly certain that I'll be working 5 days a week again soon.

    Good luck with your job search.
     
  20. Ted Lee

    Ted Lee Lead Actor

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    ouch quincy - you're literally living my worst fear. i hope things come around for you bud!

    i also seriously doubt that i'll get my salary back. according to them i'm now at "market value" - whatever the heck that means!

    i hear ya kerry...all things considered i'm still a lucky guy and am not forced (yet) to pound the pavement. hope you get back to 5-days soon!
     

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