Last week, the company I work for held a call that we need to cut $140K from our budget next week to remain stable and asked for suggestions from employees. They presented them today.
The company mentioned its solutions to increase its financial stability and if there is a silver lining, its that I feel honored to work for a company that solicited suggestions from the employees before deciding what to do.
As a result, one of the four suggestions I presented was implemented and that was to get rid of the Office Tech Reimbursement and have employees claim that on their taxes.
The four solutions the company decided to implement was:
1) Eliminating "nice to have" vs "need to have" jobs.
2) Getting rid of the Office Tech Reimbursement which was $1200/yr for each employee
3) Having operations work adjusted work schedules instead of laying people off
4) Pay rate reductions. This was the hardest and I waivered over this because I haven't received a raise since March 2007 and I only make $2 more than what I did as a Tax & Audit intern 5 years ago.
When I talked to my boss he said that I won't receive a pay reduction, but the pay cut was skewed more towards upper management with some receiving a 34% cut in pay.
I don't really know what to think. But I can't help but feel blessed to work for a company that is really trying hard to look out for one another and instead of letting people go, find adjustments.
Hopefully things can improve for next year. There is no guarantee that these solutions will be the end all be all fix to our problems, but we are trying our best as a company to tackle this together.
A company's unique way of facing the economy
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