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Wife’s firm just announced a staggered 5% to 10% salary cut for 3 mths starting 5/1. < 60k,0% cut, 60k-75k is 5%, 75k-100k is 6%, 100k-250k is 8% & so on. Would you prefer this rather than lay offs?

likehelpful
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My first issue is I signed an offer with my employment agreement. If a company was breaking that contract at the first excuse I’d probably look for a better company. My other consideration would be where does that savings go? Are we passing a discount to customers, or is the firm putting more money in their pockets. They already make a 100-700% markup on us, so a discount could easily come out of their end. My last consideration would be how long? Is it 3 months max, or open ended? Then I’d complain about how Facebook gave bonuses to help offset additional expenses. In the end I might be 1 foot out the door and accept it. Then spend 8% of my time looking for a better employer.

likesmart

I’m not saying I wouldn’t take the pay cut, but I’d be irritated about it. We were informed last week we will be using vacation instead of bench codes. Forced wasting of vacation time due to normal ending of a project. It’s already starting. Sounds like positioning for smaller final paychecks to me.

I would prefer to see what happens with out pipeline first and start the paycut for groups that are not selling work. So far I have sold 4m in New projects in the last week with more coming in next week. If my group is going to be working as hard as normal why cut our pay? Let the partners take paycut and forgo bonuses before hurting the average employe. Yearly bonus is another story. Yes I would prefer to get one but I'll give that up if it helps others keep their jobs. But I hope the firm does right and has an inflated bonus pool when we bounce back

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Yes. Would I prefer having a job to being suddenly unemployed along with 6 million other people? How is this even a question?

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Thank you! This drives me nuts. Aaaaaand you’re probably not middle class, either.

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Yes because I’d still have a guaranteed paycheck instead of having to hunt for a new job.

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and you would still have healthcare benefits

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Screw pay cuts. There’s no guarantee it will normalize.... I’d rather take my chance at getting laid off and go somewhere else if that’s what it comes down to. I’m a top performer so I think if cuts happen, the lower performers will go first.

I like Deloitte so I’ve worked hard to ensure that my year after year salary is worth staying, but I’m not gonna stay if I don’t get paid fairly. Don’t like the idea of my hand being forced to save a couple of weak performers. That’s communism.

likefunnyuplifting

The problem is that anyone who doesn't work at Deloitte does not realize that we work two full time jobs. Our salary is truly earned. Our bonuses are earned. . We could easily get more pay or same pay for significantly less work elsewhere. The pyramid scheme is real. Anyone who is already overworked and underpaid will absolutely not be agreeable to less pay. Zero nada. So yes I agree with D5 perspective based on experience. That doesn't make them insensitive or arrogant. They are keeping it real. If D5 did 10% less work for 10% less pay then it may even out.

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Congratulations! The virus is over. We will normalize these recent pay cuts over the next 10 years. Thanks.

likesmartfunny

Exactly lol

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Definitely would prefer this

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Yes, at the very top end 10% for three months seems pretty minimal to help ensure the companies total health and best chance for continued success past the pandemic.

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It’s much better for the firm to retain as many people as possible rather than laying off and having to go through hiring, training new staff.

Obviously it’s annoying to get your salary cut, but no saying you’d be one of the ones to stay. Also, seems like this is better off for the whole rather than for the individual. Seems selfish to want otherwise.

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Nice try HR!

#joke

likefunny

Firm: BDO (US) — Confirmed.

likesmarthelpful

lol BDO, no wonder.

Unemployment is forecasted to hit 32%, and you are worried about an 8% pay cut

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An actual paycut, or deferred payment?

likehelpful

Great counterpoint. If cashflow is an issue, a deferred payment could keep people at the firm and reduce short term deficit

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HR, plz go away

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Who would rather make 0 dollars than some dollars in a recession ?

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I’d probably prefer furlough temporarily. I don’t trust leaders to make up lost base. Temporary no pay for no work sounds better than same work for less pay long term.

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This is a no-brainer

likehelpful

What firm OP?

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I think it seems pretty quick for pay cuts. Our project margins are all redic- why not work at reduced margins. Why does the firm need to make such profits right now? Unless BDO is just in that bad of shape ?

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Because the partners won’t take a pay cut.

Seems like all the slackers and / or people on bench are in support of this! 😂

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