patrick.net

This is inflationary...right? lmao.

If the government says so, it should be right. I dont believe Red line.

Just got memo from top fatcat where I work, at least 8% paycut coming. Probably in furlough form. Also some layoffs,

Just got memo from top fatcat where I work, at least 8% paycut coming. Probably in furlough form. Also some layoffs,

Thanks for the heads up, just logged in the read it. However I read it as probably just a salary reduction! It is the easiest solution after all, no pesky schedules to deal with.

So, a 10% pay cut taking this job, now another 8% reduction. Hyperinflation is coming!

Vicente w/o asking for too much identifying info can you tell us what industry this info is from?

My husband took a huge paycut when he went from contract to employee status a few years back. It's not easy to adjust to but it was a relief since the company was getting rid of most of its contract employees. He's just getting back to the same nominal amount now, 5 years later. Course that's not adjusting for inflation. So I wish everyone luck w/the lifestyle adjustments and hope they're not too painful.

Tenpound, your friend's experience highlights how many of us just go on w/life as usual even though the carnage we see around us suggests we should be tightening our belts and saving, saving, saving. I'll include myself in that. We don't spend that much but I suppose we could always do more. I was better at creating austerity plans before the kids showed up.

Just got memo from top fatcat where I work, at least 8% paycut coming. Probably in furlough form. Also some layoffs,

I work for high tech company in sillicon valley(a BIG one). We heard that there would be no bonus this year(that is an average of 15% of salary for above average performers). Its a form of pay cut as well. But, nobody complains :-), having a job is more important :)

I work for a very large Public University system

Ok, which big tech companies are most well known for their employee bonus program? Cisco? Intel? HP? Oracle?

Having a job is VERY important.

I work to support my habits - eating & living indoors. :)

Just got memo from top fatcat where I work, at least 8% paycut coming. Probably in furlough form. Also some layoffs,

Errr, do you work for the University of California?

http://atyourservice.ucop.edu/news/general/0906-reduction_info.pdf

I don't know why anyone involved in government is trying to project anything involving the economy at this point. It is pretty clear that no one is able to predict any aspect of the economy with certainty.

It is even worse for California government... no one seems particularly interested in doing the hard thing and coming out and start cutting expenses to close the deficit in the budget.

Also, I wonder what kind of exemptions highly paid coaches will get in the UC salary reduction/furlough option...

Yep UC Davis. Just another cog.

What does everyone think about the near term gyrations of the stock market?

Today is Friday, and the market is up. Do you expect an UP week next week, or do the realities of the impending earnings season mean that it is time to sell out NOW?

In other words, is the pre-emptive sell-on-the-news going to start on Monday or will it be delayed a few more days?

[purely hypotethical, not investment advice]

Ok, which big tech companies are most well known for their employee bonus program? Cisco? Intel? HP? Oracle?

That depends on the company. Some companies skew somewhat highly towards bonuses, while others give virtually no bonuses whatsoever. I would guess that the big companies that have been doing significant layoffs recently have probably already reduced or eliminated bonuses, and the companies that are doing better will still have them.