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A company's unique way of facing the economy

November 10th, 2008 at 02:45 pm

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.

4 Responses to “A company's unique way of facing the economy”

  1. Snoopycool Says:

    I worked for a power plant in the '90s and they asked employees for cost saving ideas. I also think that concept is a good idea.

  2. gamecock43 Says:

    A friends husband works for a housing builder company. There was a company wide meeting basically stating "we dont know how we are going to survive this-we have done all we can. You employees left should feel honored that we kept you- and we want to do right by you and keep going...but we just dont know how to keep going." Then the company owner invited employees to come pray with him and said that he will be eliminating his lunch breaks and forgoing lunch as an effort to reduce costs. That meeting- though scary- really made the employees feel important and cut down on the "my whole department was fired and now I am the only one left to do 4 peoples jobs" complaining.

  3. dmontngrey Says:

    I think it's great that your company asked for input from their employees. Good for you for suggesting such a great idea to them. Glad they're implementing it.

  4. Broken Arrow Says:

    Yes, that IS a nice company you work for. And considering pay cut for upper management?! Wow. Unthinkable.

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