Pay Cut Number 2 Stinks Like Number 2

Do we know how to party, or what?!!!!

Yes, folks.  The recession is ending!  Recovery is beginning!!!  At least it is if you listen to the pundits.

But here in this household, the recession ain’t over.  Not by a long shot.

Husband started getting nervous last week, when the powers at be suddenly had a flurry of closed-door meetings.   Layoffs are out of the question – his company is already down to the bare bones after last year’s layoffs.  It had to be a pay cut coming.  ANOTHER pay cut.

You may remember – he aready got one at the beginning of the year- about 7.5%.  We made some adjustments, and we’ve been okay.  I’m still doing a little bit of work for a friend – enough so that we can have a few luxuries.

Now we all know that Husband is a bit reactionary.  Some might say over-reactionary.  But not in this case.  The boss scheduled meetings with all of the account executives for today – and the writing was on the wall. More pay cuts were definitely coming.  The only question now – how much?

So today I’ve waited as patiently as I could for the call.  He did finally call, completely irate, to tell me that one of the account executives got a 15% cut.  He vowed to quit before working for that little, and I can understand how he feels.

But with a family and a case of diabetes, Husband doesn’t have the luxury of telling them exactly what he thinks and walking out the door.  He just doesn’t.    He wants to look for a new job, fine.  But he cannot quit before he finds another one.  And those are nearly impossible to find in our lovely little recession recovery.

That, of course, was not what he wanted to hear from me.  But honestly, what else could I say?  If he gets that big of a pay cut then we’ll start a full court press for a new job, wherever it may be – Florida, Georgia, North Carolina…  And I’ll look for a job, too.  I’d have to.  The end of being a stay-at-home Mom, a job I cherish.

But Husband needs to keep that job until he gets another, or they close their doors.  Lousy pay is better than no pay.  No matter how good it would feel to give them a piece of his mind, he can’t…

For us it wasn’t as bad as we feared – “only” another 5% cut.  And reassurance that his job is not in jeopardy.  He will be there as long as he wants to be –  or until they close the doors (which despite the pay cuts does not seem likely).

So, we will tighten our belts a little further.  Looks like the end of my pedicures, and the new printer I need will have to wait.  I am going to see about picking up some work, and perhaps monetize one of my other blogs.

And we’ll wait for things to get better.  Just like you.


4 Responses to “Pay Cut Number 2 Stinks Like Number 2”

  1. goodfountain Says:

    Eek. I’m so sorry to hear this.

    I hope things turn around or that you find a way to earn some income too.

  2. Erin Says:

    Oh, I am so sorry. Superman got called into closed door meetings a few weeks ago and had to give 3 of his team pink slips…it was horrible. He’s made himself sick over it. I’m with you…I don’t think the recession is over. This stinks!

  3. Funny about Money Says:

    How annoying. Bernanke may be right that the recession is “over” on Wall Street. But the rest of us will declare our recession over when people start going back to work and when wages are back to normal.

    My employer’s “furlough” plan cut our pay by 10 percent. However, because what it really did was cut the number of workdays, it did not cut our hourly rate (yeah…another pay cut that is not a pay cut). This matters in state service because your pay for unused sick leave is based on your hourly rate, not on how many hours/week you work.

    Still was annoying, though.

  4. No One at AmTrust Bank Seems to Know Jack About Their Minimum Balance Policy « Are You Going To Be This Way The Rest of The Time I Know You? Says:

    […] the economy has affected us all.  It’s been almost a year since pay cut #2.  We’ve moved since then, rented out the townhouse, and are looking for ways for me to make […]

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