How many weeks of furlough are required for contractors? Is it 2 for every contractor or are there exceptions? Do they also have to take a pay cut in addition to furlough? Also, if my rate is $74/hr and have to take 2 weeks of furlough what would my actual rate be?
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BAC loves to furlough contractors. They are also know to make contracting firms reduce their rates which means hour cuts to you. I will never contract for BAC again.
Be happy if they are only doing 2 weeks this time. They did 3 weekers for a number of years then panicked when the November releases all had to push into December
Depends on the nature of your contractual arrangement. If you would normally get paid by your contract firm for time off (i.e. you are a staff employee of a contract firm) then it may not have an impact. If you are a W-2 or 1099 contractor that doesn't get paid without working then assuming you would normally work a full 52 weeks and you are furloughed for 2 weeks your effective rate would be ~$71.15.