This Friday is the first of the five scheduled 10% reduced paychecks. Because of this, I am not quite as concerned about payroll being met, but rather, the impact on those affected. I suspect the first one won't be so critical, and it will likely take two to three paychecks before those afflicted with CCi has no cash illness start getting increasingly grumpy. The 10% reduction amounts to about $500 per pay period for a person paid at a rate of $130,000 per year, or $250 for someone being paid at a rate of $65,000 per year. How grumpy will they get over this pay reduction?
8 replies (most recent on top)
Most of The Directors are just overpaid do nothing assholes anyhow.
I don't get a refund but I know what you mean.
Could owe a penalty too, if the withholding is too low.
Problem is reduction in withholding will mean less refund, but most likely tax owed in April due to insufficient withholding. Not necessarily so smart.
CCI employees make that much? Dang....
What about those of us who've already lost our jobs? Are you concerned for us?
What makes me grumpy is Jack's 5.6% pay raise.
Smart people adjusted their withholding to compensate for the 10% loss of income. The increase in witholding is offset by the loss in wages. It sucks to loose wages but you can minimize the impact.