Holiday bonuses & raises yanked due to bad economy?

[antipathy]

My company announced that merit increases and holiday bonuses have both been put off until after Q1 (April) due to paranoia about the current economic climate.

Nevermind that we made all of our earnings milestones for the year - we gotta keep the stock price high somehow, right? :dunno

I envy those of you with annual review periods in spring and summer. Talk about jumping the shark.

So who else is getting screwed in a really bad way? This Christmas is setting up to be quite depressing!

 

[sn0rky]

i dont think i will be getting a nice bonus either.
they gave us 3% (nothing compared to the goldman sachs bonuses) of our annual income last year. i dont know about this year. :mad but i will be getting a raise soon :cool

 

[Bronto]

Loan Mortgage Company who hire me to photograph their events. Has stopped having their Christmas Parties last two years now. Can't be sure, if any Christmas parties are the smaller office only ones now.

 

[Cycle61]

I dunno what ours are gonna be. I've heard they're decent, but our company is young, well-funded, and growing strongly. We're selling faster than we can build, and we're building as fast as we can train new employees.

Hopefully it's gonna be good :thumbup

 

[uhmeebuh]

Depends on the company - some parts of Oracle haven't had raises/bonuses for at least 5 years but I just got a raise last week and the client I work for has reduced both.

 

[Cdgskater]

i started in august, so not sure if I even get a bonus...but I do get to go to the party at AT&T park and drink all day...no baseball but the drinks will flow just the same

 

[insyder]

Holiday bonus? :rofl :rofl :rofl :cry

 

[antipathy]

Well in my line of work it only comes out to a couple hundred bucks after taxes, but anything is better than nothing.

What rubs me the wrong way is the cuts are based on paranoia and forecasting possible future losses rather than whether they actually any lost earnings in 08.

 

[slowpoke]

You guys are spoiled...

 

[Caddywumpus]

Im paid peanuts, but my office has a tendency to feed me.

 

[Whodat]

Already been told not to expect a bonus this year. looking at our sales forecasts I'm expecting a layoff soon

 

[Nastradamus]

were getting our bonus this month .. next year.. though.. i dont see it as high

raises are company wide in December. Lets hope the economy doesnt mess up my raise.

 

[Gragorin]

AFAIK, my hospital isn't cutting our bonuses at all this year..

 

[afm199]

I got a nice 5% increase.




But Social Security will be bankrupt in a few years, so I ain't celebrating.

 

[racergirl]

government doesnt give bonuses, and they wont even give me any days off either.

 

[jt2]

Not to be a wet blanket, but just be glad to have a job right now. From where I sit, I can see that the layoffs are accelerating.

There is a huge amount of uncertainty where we go from here economically. From a management perspective, it would be reckless not to cut every cost and go as lean as possible until the smoke starts to clear.

Or would you rather get a bonus now, and have the company BK out from under you halfway through next year because they failed to "see it coming"?

 

[mikev]

I'm glad I'm employed. Fuck the bonus.

 

[F4iChic]

I complained about not getting a pay rise for three years, and then getting a three percent this year.

Now I am unemployed, that 3% over three years doesn't seem so bad after all :cry

 

[Xenophonii]

I've gotta job so I can't complain... My "bonuses" are paid monthly, it's kind of like a commission. Usually $50-$150.

 

[Alan_Hepburn]

Already been told not to expect a bonus this year. looking at our sales forecasts I'm expecting a layoff soon

Got my notice yesterday - as of today I'm officially retired...

Actually got quite a nice severance package - almost a full years's pay, and they're picking up our medical and dental insurance for 14 months.