Just finishing up. Senior Managements all over it. There may be a chance we will all have to take a pay cut. Other than that business as usual.
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2/3 of my team have no financial sense. They are counting on retiring with a pension and have saved nothing. All have made over 100k for years and managed to be in debt up to their eyeballs. They buy expensive new vehicles every year, live in big houses with no equity, eat out every meal, wear expensive clothes, buy expensive electronic gadgets, boats, RVs, motorcycles. most have borrowed from their 401k once Heloc was fully tapped. One guy has 35 years and less than his annual salary in 401k.
Two on my team are millionaires. They saved money instead of buying things.
An observation.
The financially secure teammates are team players and hard workers.
The financially insecure teammates engage in non-team-spirit behaviors and spend more time politicking than working.
It is almost like the financially insecure use retail therapy because they dislike their job or own behaviors at work.
My manager lives is a $1.2 million house that is mortgaged to the hilt. I hope the 20% pay cut bankrupts him.
* Post ID: @3kys+14IZeeRc *
you are not thinking. Alot of people live hand to mouth even with salaries like we have access to. The guy in one of the cubes near ours went through a divorce and literally squeaks by paycheck to pay check - by his own words.
There are many more stories throughout Ford.
I support across the board pay cut for all. Tough times.. all have to sacrifice and save the team. We will bounce back on the other side... 20 % cut till we bounce back. We can all adjust. At least, we can keep the work going and save all programs... that is the bloodline we need to keep alive...
I do not understand this casual business as usual approach.
IT infrastructure has had the opportunity to complete all the projects that drag on for years ‘because they do not want to impact the plants’ they will only make a change once a quarter. The plants have been down. Did they implement and test all of our queued up change requests? No they did not. They can make changes to the mainframe and server configurations remotely. In meetings our LL6 asked what was the hold up, let’s get things done and save Ford money. The IT infrastructure LL6 has no sense of urgency continuing on the same long traveled path. When our LL6 escalated then the IT infrastructure LL6 claimed lack of resources. My buddy works in that group and said 3/4 of team is sitting idle.
This is so frustrating. Everyone protecting their turf and afraid that if they get things done quickly then they will be expendable or expected to work smarter going forward.
We knew it was coming, so why are they still waiting so long to act? GM and FCA did it a month ago.
Seniors are Deferring, looks like it could be a 20% Haircut for the masses. This may be short term but may end up in a differeant position.
yeah he set the table with this one. everyone's gonna feel the pain. Globally we are in for some rough times. Anyone that thinks this isn't true has their head neck deep minimum in the sand.
Once that free unenjoyment dries up the real economy is going to emerge. This is the honeymoon phase.
Peace
15% Haircut for all.
His words - I may have to do more after outlining salary cuts but his executive team. All this after saying none of executives complained - not once of their salary cuts.
I was also mentioned that they had enough to pay their bills until end of year.
Pure speculation with no math to back it up, but if they are planning for a $5B Q2 loss, that may imply no paycuts.
None announced.
Will there be salary cuts then?
50% is a lie, quit fear mongering.
50%
The company and leaking gravy at an unprecedented rate, but Jim is making sure he gets his fair share.
Are the pay cuts for all or just upper management?
How much pay cuts? Was there anything that was mentioned?