Old 05-18-20, 12:56 PM
  #4787  
himespau 
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Originally Posted by Flatballer
Sure is interesting how when times are bad companies are all "we're all in this together, sacrifices will need to be made among everyone" but when times are good I don't hear a lot of "we're all in this together, here's a portion of all the extra money we made this year".

We even have profit sharing at my current company. I've heard they haven't gotten it in a while, always some excuse, some project in some part of the company that didn't go well enough. But a month into this Covid thing and they're removing our 401k match, vacation is being restricted, layoffs and furloughs and pay cuts and hour cuts are happening.

I'm guessing I couldn't go to management and be like "I overspent last month, I'm not going to be contributing my portion of the health insurance this month as was laid out in my contract, but I'll expect you to pick up the difference, thanks". But they can cut off 401k and reduce vacation at the drop of a hat and nobody can say no, even though those were earned as part our work and we didn't agree to them, or even get asked.
I work for a public university and we got a small pay cut. The loss of contributions to our 403b is much larger, but hasn't been commented on nearly as much as the smaller pay cut (the two cuts together total up to 10% of our compensation). And now, we're looking at losses in enrollment for the next year (so decreased income) and the state is telling us they're going to cut what they're giving us as well, so I'm fairly confident that another one-sided change to our contracts is coming.
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