Comments on: Would you take a 10% pay cut if it meant saving an employee? http://www.budgetsaresexy.com/2009/01/would-you-take-10-pay-cut-if-it-meant/ Where Financial Nerds are Cool Sat, 11 Feb 2012 22:14:43 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: J. Money http://www.budgetsaresexy.com/2009/01/would-you-take-10-pay-cut-if-it-meant/#comment-18465 J. Money Tue, 01 Mar 2011 20:25:09 +0000 http://budgetsaresexy.com/2009/01/would-you-take-a-10-pay-cut-if-it-meant-saving-an-employee/#comment-18465 Wow, EXCELLENT end to that story - wasn't expecting that :) That is wonderful, I'm so glad things seem to be back on track now! Wow, EXCELLENT end to that story – wasn’t expecting that :) That is wonderful, I’m so glad things seem to be back on track now!

]]> By: Linda http://www.budgetsaresexy.com/2009/01/would-you-take-10-pay-cut-if-it-meant/#comment-18419 Linda Tue, 01 Mar 2011 15:44:00 +0000 http://budgetsaresexy.com/2009/01/would-you-take-a-10-pay-cut-if-it-meant-saving-an-employee/#comment-18419 This situation actually happened to the nonprofit organization where I worked. Upper management (six people) took a 10% pay cut to prevent layoffs. Later, our branch office (e people) was asked to take an across-the-board paycut of 5% to save our office. Everyone's vacation per year was reduced by one week (from four weeks to three for most staff members) and $50 per month cost was added to our health care benefit costs. A year later, the paycuts and vacation rate were restored and layoffs were prevented. This situation actually happened to the nonprofit organization where I worked. Upper management (six people) took a 10% pay cut to prevent layoffs. Later, our branch office (e people) was asked to take an across-the-board paycut of 5% to save our office. Everyone’s vacation per year was reduced by one week (from four weeks to three for most staff members) and $50 per month cost was added to our health care benefit costs. A year later, the paycuts and vacation rate were restored and layoffs were prevented.

]]> By: J. Money http://www.budgetsaresexy.com/2009/01/would-you-take-10-pay-cut-if-it-meant/#comment-10356 J. Money Wed, 01 Dec 2010 03:03:44 +0000 http://budgetsaresexy.com/2009/01/would-you-take-a-10-pay-cut-if-it-meant-saving-an-employee/#comment-10356 You got that right, my friend. I don't plan on sticking around the place for much longer anyways - it's time to do MY projects. We'll both be running our biznesses together ;) You got that right, my friend. I don’t plan on sticking around the place for much longer anyways – it’s time to do MY projects. We’ll both be running our biznesses together ;)

]]> By: JD http://www.budgetsaresexy.com/2009/01/would-you-take-10-pay-cut-if-it-meant/#comment-10354 JD Wed, 01 Dec 2010 02:58:55 +0000 http://budgetsaresexy.com/2009/01/would-you-take-a-10-pay-cut-if-it-meant-saving-an-employee/#comment-10354 I'm sure things will be better J. Philippines was affected too by the Recession in the U.S., so there were companies that either closed for business permanently or laid off thousands of people here in my country. Having other means to earn money aside from a 9-5 job is always better than relying only on just one income. Before I had my business, I always feel a little guilty on spending 4,000 pesos (which is equivalent to about $100 your money) but because I'm now earning more splurging 2-3 times in a month isn't so bad. We are working for our money so why not treat yourself from time to time, right? Although having money is important, enjoying life is just as important or probably even more. I’m sure things will be better J. Philippines was affected too by the Recession in the U.S., so there were companies that either closed for business permanently or laid off thousands of people here in my country. Having other means to earn money aside from a 9-5 job is always better than relying only on just one income. Before I had my business, I always feel a little guilty on spending 4,000 pesos (which is equivalent to about $100 your money) but because I’m now earning more splurging 2-3 times in a month isn’t so bad. We are working for our money so why not treat yourself from time to time, right? Although having money is important, enjoying life is just as important or probably even more.

]]> By: J. Money http://www.budgetsaresexy.com/2009/01/would-you-take-10-pay-cut-if-it-meant/#comment-10348 J. Money Wed, 01 Dec 2010 02:06:00 +0000 http://budgetsaresexy.com/2009/01/would-you-take-a-10-pay-cut-if-it-meant-saving-an-employee/#comment-10348 Funny thing -- We actually had to take a 10% PAY CUT!! Not for my make believe question above, just cuz of the economy ;) I jinxed myself! Funny thing — We actually had to take a 10% PAY CUT!! Not for my make believe question above, just cuz of the economy ;) I jinxed myself!

]]> By: JD http://www.budgetsaresexy.com/2009/01/would-you-take-10-pay-cut-if-it-meant/#comment-10337 JD Wed, 01 Dec 2010 00:52:56 +0000 http://budgetsaresexy.com/2009/01/would-you-take-a-10-pay-cut-if-it-meant-saving-an-employee/#comment-10337 Luckily the company that I work for here in the Philippines serves Fortune 1000 companies so taking a pay cut is impossible plus I'm very secure of my job. To save an employee, I would gladly take a pay cut in a heartbeat since I have a side business so taking 10% out of my paycheck wouldn't be such an impact to my financial goal.Although, If it would then I can always quit & find the same job in other company with a much better pay. Luckily the company that I work for here in the Philippines serves Fortune 1000 companies so taking a pay cut is impossible plus I’m very secure of my job. To save an employee, I would gladly take a pay cut in a heartbeat since I have a side business so taking 10% out of my paycheck wouldn’t be such an impact to my financial goal.Although, If it would then I can always quit & find the same job in other company with a much better pay.

]]> By: Budgeting Money http://www.budgetsaresexy.com/2009/01/would-you-take-10-pay-cut-if-it-meant/#comment-7535 Budgeting Money Mon, 27 Sep 2010 12:17:04 +0000 http://budgetsaresexy.com/2009/01/would-you-take-a-10-pay-cut-if-it-meant-saving-an-employee/#comment-7535 I would say don’t accept an cuts as you will never get them back... I would say don’t accept an cuts as you will never get them back…

]]> By: J. Money http://www.budgetsaresexy.com/2009/01/would-you-take-10-pay-cut-if-it-meant/#comment-5570 J. Money Thu, 29 Jul 2010 02:14:29 +0000 http://budgetsaresexy.com/2009/01/would-you-take-a-10-pay-cut-if-it-meant-saving-an-employee/#comment-5570 Yeah, good call! I'd totally take the cut now too just to be on the safe side. It really sucks when you have no say in the matter, but it beats unemployment and and stressing out hardcore! Now you can search for jobs and take your time until you find a good fit :) Good luck! Yeah, good call! I’d totally take the cut now too just to be on the safe side. It really sucks when you have no say in the matter, but it beats unemployment and and stressing out hardcore! Now you can search for jobs and take your time until you find a good fit :) Good luck!

]]> By: Hal http://www.budgetsaresexy.com/2009/01/would-you-take-10-pay-cut-if-it-meant/#comment-5504 Hal Wed, 28 Jul 2010 12:09:13 +0000 http://budgetsaresexy.com/2009/01/would-you-take-a-10-pay-cut-if-it-meant-saving-an-employee/#comment-5504 I am in this exact situation right now. We have been asked to take 10% pay cuts. It's not compulsory however someone will be made redundant if we all don't. It might be me, it might not, I just don't know. I have opted to take the cut as I can cope without it for now. Some of my colleagues will not take the cut so we will definitely have redundancies later this year. I just hope that as I have been co-operative and a team player it all works out for me. In any case I am looking for another job before they can get rid of me or the whole company sinks. I am in this exact situation right now. We have been asked to take 10% pay cuts. It’s not compulsory however someone will be made redundant if we all don’t. It might be me, it might not, I just don’t know.

I have opted to take the cut as I can cope without it for now. Some of my colleagues will not take the cut so we will definitely have redundancies later this year. I just hope that as I have been co-operative and a team player it all works out for me. In any case I am looking for another job before they can get rid of me or the whole company sinks.

]]> By: R http://www.budgetsaresexy.com/2009/01/would-you-take-10-pay-cut-if-it-meant/#comment-4626 R Mon, 12 Jul 2010 15:34:10 +0000 http://budgetsaresexy.com/2009/01/would-you-take-a-10-pay-cut-if-it-meant-saving-an-employee/#comment-4626 It's a deal, here's to world domination and NO pay cuts ha ha ha :o) It’s a deal, here’s to world domination and NO pay cuts ha ha ha :o)

]]>