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Welcome to Mommysavers Forums.
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| Money Matters Personal finance, managing debt, saving and investing |
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03-03-2009, 07:25 AM
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#1
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Anyone else losing benefits in this economy?
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Mommysavers Addict
Join Date: Dec 2006
Location: Canada
Posts: 7,793
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Letter came in from HR yesterday saying dh, because of how many years he has worked at said company (11 years) now will get 7 days less holidays until he hits 15 years.
We don't have medical (prescription, dentist, glasses, eye Dr. etc,) so there was nothing to lose there.
__________________
Mom to dd (age 9) and ds (age 11)
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03-03-2009, 07:32 AM
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#2
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Moderator
Last Online: Today 09:01 AM
Join Date: Apr 2008
Location: NC
Posts: 8,256
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Oh my Kathryn!  That stinks.
No, we haven't lost benefits. DH recently became a firefighter for the city, so we switched to the city's benefits from the private ones we had before.
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03-03-2009, 07:40 AM
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#3
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Mommysavers Goddess
Last Online: 12-10-2009 11:35 AM
Join Date: Oct 2007
Location: The Great Midwest
Posts: 2,118
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At our place of work, DH and I have lost paid insurance on spouses and dependents. At least we both work there (no kids) so it didn't affect us, but I feel sorry for those that it did affect.
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03-03-2009, 07:59 AM
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#4
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Mommysavers Diva
Last Online: 12-16-2009 09:59 AM
Join Date: Feb 2007
Posts: 541
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Nope, no changes (yet), but honestly I am shocked they haven't dropped the 401K matching funds.
Vacation days... what a joke... I still have 5 days from 2008, not that I can take them anymore, we never get to take all the vacation days we earn.
Sorry to hear that you're losing some benies.
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03-03-2009, 08:31 AM
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#5
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preschool/toddler mod
Last Online: 03-17-2010 10:46 AM
Join Date: Jul 2006
Location: IOWA
Posts: 9,464
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well dh had to take a 10% pay cut in the form of unpaid days off. but they let them keep their vacation days wich dh has 6 weeks. so he will be off work alot this year.
they have not taken benefits away yet but as a family we are already looking at our options incase the situation arises. there is a pay increase freeze until july of 2010 then it will be reviewed at that time.
__________________
SILENCE IS GOLDEN BUT DUCK TAPE IS SILVER.
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03-03-2009, 08:56 AM
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#6
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Mommysavers Goddess
Last Online: 03-20-2010 12:28 PM
Join Date: Jul 2006
Posts: 1,693
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Sorry to hear that. Luckily, we haven't lost any benefits but insurance did increase again.
__________________
* Let it not be said that no one cared, that no one objected once it's realized that our liberties and wealth are in jeopardy.
~Ron Paul
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03-03-2009, 09:00 AM
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#7
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Moderator
Last Online: Today 09:11 AM
Join Date: Oct 2007
Location: Alabama
Posts: 8,521
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I lost my health benefits at work, because even though I paid half, it was too expensive for my employer.
But dh picked me up on his, so no problem so far.
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03-03-2009, 09:39 AM
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#8
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Mommysavers Diva
Last Online: 12-27-2009 01:01 PM
Join Date: Mar 2008
Location: Buffalo, New York Area
Real Name: Alicia
Posts: 702
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Our neighbor's son just lost his health benefits for his family. He's an electrical engineer who has been w/his company for 25 years.
__________________
Buy local. Save the jobs in your community.
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03-03-2009, 10:43 AM
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#9
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Mommysavers Addict
Last Online: Today 08:52 AM
Join Date: Jul 2006
Location: Detroit Area
Posts: 7,317
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Here at EDS/HP, everyone is taking a pay cut - mine is 5%. And we all have our 401K matching altered as well, so there is less of a match.
My brother in law - several years ago, had his insurance changed to worse one, with a $6000 annual deductible, lost his company car (he was the building property manager on call 24/7, and routinely had to drive out there in the middle of the night several nights a week due to the alarms going off), he lost vacation days, his pay was cut, and then he lost the job.
Right now I'm trying to keep my cube. The latest thing is they are making a bunch of us "mobile employees" - so we lose our cubes, which saves the company in terms of electricity, LAN access, phones, real estate, printer, etc. We are supposed to work from home, work from a client site, or come in & get a "visitor cube" on a first come first serve basis.
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03-06-2009, 12:41 PM
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#10
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Newbie
Last Online: 09-09-2009 10:37 AM
Join Date: Mar 2009
Location: Billings, MT
Real Name: Wendy
Posts: 2
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We have PTO accrual and that was recently cut in 1/2 (instead of earning 8 hours every pay period, I earn 4) through the end of our fiscal year -- and we are hoping it will go back up in June. We are also making changes to that policy in hopes of encouraging people to actually use their PTO, rollovers, etc. Managers and above lost their accrual all together. Directors and above took 5% pay cuts.
My company's goal is no layoffs. We are looking at all sorts of ways to save money -- for example, my office went to central printers rather than everyone having their own. We are hoping attrition will help with most of our cost savings. I expect that our medical insurance share will go up this fall (during open enrollment) and the retirement match to discontinue as well.
My husband's company has done lay offs, discontinued the 401k match and has frozen salaries.
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