Well this sucks. Just got told all salaried employees are taking a 20% pay reduction because of covid19 lost revenue. Guess it's better than getting laid off.
What industry do you work in?
Well this sucks. Just got told all salaried employees are taking a 20% pay reduction because of covid19 lost revenue. Guess it's better than getting laid off.
I’m waiting for that message myself... like you said, better than getting laid off. Did they provide any guidance on a path to get everyone back to their normal wage once this has passed?Well this sucks. Just got told all salaried employees are taking a 20% pay reduction because of covid19 lost revenue. Guess it's better than getting laid off.
I'm a director of IT for an insurance claims company. We've seen about a 60% reduction in auto accidents from lack of cars on the road.What industry do you work in?
Just that they will re assess in 4 weeks and that it could get better or could get worseI’m waiting for that message myself... like you said, better than getting laid off. Did they provide any guidance on a path to get everyone back to their normal wage once this has passed?
I'm a director of IT for an insurance claims company. We've seen about a 60% reduction in auto accidents from lack of cars on the road.
Just that they will re assess in 4 weeks and that it could get better or could get worse
No, we aren't an insurance company. We handle claims for various insurance companies. The insurance companies I agree are going to end up profiting from the reduction in claims, but we are hurting bad as we get paid on a per claim basis.Seems like they're using this as an excuse to reduce salary. 60% reduction in accidents means they make MORE money, not less. Did people stop paying premiums, because that doesn't pass the smell test. Less claims equals more profit.
In a lot of cases like homeowners claims, there’s a responsible party (other insurance company involved) where the claim gets paid for instead of them paying out, the customer gets their deductible in most cases and they’re still getting paid premiums every day.Seems like they're using this as an excuse to reduce salary. 60% reduction in accidents means they make MORE money, not less. Did people stop paying premiums, because that doesn't pass the smell test. Less claims equals more profit.
i'm getting real nervous for the same thing, or a reduction of hours, or worst case, furlough... i have very little to bill my time to currentlyWell this sucks. Just got told all salaried employees are taking a 20% pay reduction because of covid19 lost revenue. Guess it's better than getting laid off.
Yeeouch, sorry to hear that man. I'm on edge for something similar happening to me.Well this sucks. Just got told all salaried employees are taking a 20% pay reduction because of covid19 lost revenue. Guess it's better than getting laid off.
This. Have a meeting at 4:45 with my unit unannounced. Not looking forward to itYeeouch, sorry to hear that man. I'm on edge for something similar happening to me.
Well this sucks. Just got told all salaried employees are taking a 20% pay reduction because of covid19 lost revenue. Guess it's better than getting laid off.