Bad Day Tomorrow?

March 29, 2007 by
Filed under: Work 

Here at work, all signs point to layoff tomorrow.

The company changed the vacation policy at the end of last year.  They used to grant an entire year’s vacation on January 1 and if you left the company you’d get paid for unused time.  Your time was “earned” last year.  After the change, you get 1/4 of your time every 3 months.  They grandfathered us this year by allowing us to take vacation ahead of schedule but having to “repay” it if we left having used more than we were granted.
It’s the end of a quarter.  If people are working here Monday, they get more vacation.

Our Minnesota office had layoffs last Friday.

We’ve been told that all departments had to cut their salary budgets 8-10%.

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I should be OK – in my department the highest paid two employees have left in the last 6 months and their salaries will apparently cover our needs.  The restructuring consultant responsible for IT has said to all of us that we don’t have to worry.

However, I’m looking at 10% of my non-IT co-workers being shown the door tomorrow.

I hope I’m wrong – but all of the tea leaves point to this happening tomorrow.

UPDATE: Nothing happening as of lunchtime.  It appears that this rumor isn’t true.  I do know that the company recently negotiated a deal with lenders, so maybe they won’t be doing layoffs after all.

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Comments

One Comment on Bad Day Tomorrow?

  1. Quotidian Grace on Mon, 2nd Apr 2007 10:18 am

    2. I’m pleased to see your update, but I’m sorry this is such a stressful time at work for you.

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