Nah, same hours, same workload, reduced compensation in the 20-25% range. A combination of: 10% reduced pay company-wide, no company matching for retirement (-6% pay), no annual bonus (another -10% or so), cancelled Aflac coverage (we had that?). It's probably not a coincidence that we were just bought by a VC firm six months ago. But basically we don't know if the clients have evaporated or not at this point so it just might be... wait for it... an abundance of caution.
Our sales is dependent on a lot of things, because our clients are large companies across all economic sectors. Which in normal times would mean you were relatively immune to risk, but not when almost all sectors will take a beating. We had been on something of a hiring spree until last month, so I think this is an attempt to not have to furlough anyone. My division has been helping cut costs the most, by having one of our programmers die on a cruise ship in a SCUBA accident, right after our CTO quit and presumably sold out just as the market was beginning to crash. And now I have two less friends to work with.
Our CEO has been giving weekly calls on Zoom, just to keep us updated. He seems uncertain about the future -- he kept mentioning how he doesn't have a crystal ball, he wished he had a crystal ball. So I had Amazon send him a crystal ball to his house. Problem solved, right?
Our sales is dependent on a lot of things, because our clients are large companies across all economic sectors. Which in normal times would mean you were relatively immune to risk, but not when almost all sectors will take a beating. We had been on something of a hiring spree until last month, so I think this is an attempt to not have to furlough anyone. My division has been helping cut costs the most, by having one of our programmers die on a cruise ship in a SCUBA accident, right after our CTO quit and presumably sold out just as the market was beginning to crash. And now I have two less friends to work with.
Our CEO has been giving weekly calls on Zoom, just to keep us updated. He seems uncertain about the future -- he kept mentioning how he doesn't have a crystal ball, he wished he had a crystal ball. So I had Amazon send him a crystal ball to his house. Problem solved, right?
"Kitto daijoubu da yo." - Sakura Kinomoto