Had a business mentor explain it like this to me. If a business owner doesn’t make smart decisions now to make it through to the other side of all this, then 0% of that company will have a job later. Running a business and making these decisions is hard. But if selfishness subsides for the time being, a company just might make it. It’s unfortunate but desperate times call for desperate measures. I don’t see it as BS, I see it as an owner doing what he can to stay afloat. It’s either that or get released and while I know unemployment’s exists, I would hope staying on staff receiving 75% of your pay would be viewed as a better option than unemployment, that is if you’re a team player not looking for a handout. Oh and who knows, the owner may be taking a 50% cut so he can keep providing 75% to all their employees.....
For those already getting pay cuts, what kind of business are you in? As of right now commercial construction seems to be unchanged for the most part. Although Austin is putting a damper on a lot of jobsites.
My company say, per news paper, 30% reduction in force coming and pay reductions. Waiting to see what happens now. Such a weird time we have going on right now. I know there is going to be a lot of this going on now. Good luck folks. At least none of us should go hungry.
And guys dont think that unemployment check is going to go far or pay for much. It will buy groceries.
Very true, no one gets full pay on unemployment. And you don't get that first check immediately either.
Has anyone heard if they're going to modify the requirements, for instance, so many job searches per week? They can't really expect that in this predicament.
Last edited by tdwinklr; 03-26-2020, 06:44 AM.
Reason: sp
For those already getting pay cuts, what kind of business are you in? As of right now commercial construction seems to be unchanged for the most part. Although Austin is putting a damper on a lot of jobsites.
I guess it depends on the type. This is my gig and we are extremely affected and more than likely closing shop. We did mostly fitness facilities and theaters. Well guess what, those are closed for the foreseeable future. One fitness facility for example owes us multiple millions on current and past projects that we have been told that there isn't any timeline on funding and we are believing that the COVID is a "way out" and they appear to be filing. We had several theater projects just fixing to kick off and those have been shelved for the foreseeable future. I will be one of the ones more than likely receiving a 100% cut today or tomorrow...
I guess it depends on the type. This is my gig and we are extremely affected and more than likely closing shop. We did mostly fitness facilities and theaters. Well guess what, those are closed for the foreseeable future. One fitness facility for example owes us multiple millions on current and past projects that we have been told that there isn't any timeline on funding and we are believing that the COVID is a "way out" and they appear to be filing. We had several theater projects just fixing to kick off and those have been shelved for the foreseeable future. I will be one of the ones more than likely receiving a 100% cut today or tomorrow...
Dang man, hate to hear that. I do expect that to become an issue all the way around in construction if this continues very long.
For those already getting pay cuts, what kind of business are you in? As of right now commercial construction seems to be unchanged for the most part. Although Austin is putting a damper on a lot of jobsites.
We had a company conference call yesterday evening, and based on insight regarding further clarification from the city, all non-critical job sites will be shut down. They have actually already started shutting sites down in person.
Thankfully for me, I specialize in healthcare construction, which my current project at Dell Children's is considered critical and allowed to stay open. I have a feeling Im about to have all the manpower I need.
Very true, no one gets full pay on unemployment. And you don't get that first check immediately either.
Has anyone heard if they're going to modify the requirements, for instance, so many job searches per week? They can't really expect that in this predicament.
I just signed up for unemployment benefits online this morning, and it looks like they've waived the one week waiting period to begin receiving funds. It also appears that the minimum number of req'd job searches has been suspended for an unspecified amount of time. That makes sense, since no one's going to be hiring anyone anytime soon anyway.
If you get a pink slip you can draw 39 weeks of full pay unemployment.
People gonna be begging for pink slips next week.
My base is only about 40% of my total comp so don't know how that works. My pay cut was more to offset and be able to keep some of our warehouse guys on longer and a couple branches that are struggling going. I'd rather take a cut and keep some people on the payroll than people completely losing their jobs. It's a tough time for everyone and hope the recovery is strong
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