[Sephiroth]

I help the keep the electric grid running in our area. Wife is in healthcare. We are expecting to stay employed but cautious nonetheless.

[ipilcher]

I work for a large IT company that has never done layoffs in its 20+ years of existence. Unfortunately, we were recently purchased by a very, very large IT company that has a history of using layoffs to maintain its stock price. We're still operating as a wholly owned subsidiary, so I'm not worried about the next couple of months. If the Fauci's of the world have their way, however, and we're all locked in for 6+ months, we all need to worry.

[hubbahubba]

Originally Posted by Rmtt

We want to keep our people employed as long as possible without having to make any cuts.

This.

[wdb]

Originally Posted by Rmtt

Plant Engineer in a chemical plant that is privately owned. Right now we have more work than ever as we have over 400 products.

Talking with the CFO yesterday, our plans are to keep pushing as much product out the doors as we can, temporarily suspend Capital Projects, and put away as much money as we can in case things drop off later.

We want to keep our people employed as long as possible without having to make any cuts.

You work with smart people.

[AlpineWhite_SJ]

Quit my employer a week ago - they already did a fairly sizable reduction in February and didn’t want my position to be prioritized over someone else’s who needs the job more or wants to be there, should they do more based on revenue shortfalls due to the lockdowns. Was preparing/planning to take an extend amount of time off already, so not overly worried unless my wife loses her job since we’re relying on her job for benefits now.

[maul3d]

I got laid off from company restructuring March 1st.. with a 6 figure severence payout..

2 weeks later.. THIS HAPPENS.

Everyone has always told me I have a lucky horseshoe stuck up my ass.

Unemployed.... and taking the rest of the year off !

[RickFLM4]

Originally Posted by maul3d

I got laid off from company restructuring March 1st.. with a 6 figure severence payout..

2 weeks later.. THIS HAPPENS.

Everyone has always told me I have a lucky horseshoe stuck up my ass.

Unemployed.... and taking the rest of the year off !

Sounds like good timing. Did you get the severance upfront or is it payable over time?

[maul3d]

All upfront.

[wdb]

Originally Posted by maul3d

All upfront.

I hope you didn't invest it.

[RickFLM4]

Originally Posted by maul3d

All upfront.

Good answer.

[maul3d]

No, haven't invested it YET.

I plan to, eventually.. but waiting for marketo either a) Bottom out ? Who knows where this will go. We are still in the first phase.. B) Vaccination made.. and rebound in markets.. not a dead cat bounce.

When I got the lump sum.. i got whacked with a shitlload of tax.. granted, with that, and my vacation pay.. and I had a strong Dec ,which spilled into my 2020 YTD and Jan..Feb..March.. My YTD, and income, and tax bracket ..NO POINT returning to work..

Here in Canuckistan, I would just work to pay tax..

This way , I'm going to bum around for the first time in my life.. and collect pogey ( unemployment) and get a nice fat income tax return in 2021...

The markets are in my crosshairs.

I'm talking higher dividend banking stocks, air lines ( air Canada) and index etf.. nasdaq ,s&p, tsx...

Here in canada I can utilize it in a tax free account.. tax free gains. .buy and hold for years is the plan..

[nyalpine90]

Reduced hours to 30 a week. I work for small engineering firm.

[King Rudi]

Originally Posted by Rmtt

Plant Engineer in a chemical plant that is privately owned. Right now we have more work than ever as we have over 400 products.

Talking with the CFO yesterday, our plans are to keep pushing as much product out the doors as we can, temporarily suspend Capital Projects, and put away as much money as we can in case things drop off later.

We want to keep our people employed as long as possible without having to make any cuts.

I'm pretty sure we have done the same at our facility without discussing it. Considering my moniker is Capital Project Coordinator (and 5S Guru), let's just say that our CapEx spending has ground to a halt. I haven't spent this much time on here since they made me get rid of my cubicle. Nonetheless, still getting paid for postponing projects. Can't help but feel a little guilty to those who aren't allowed to work currently. Very fortunate during these times.

[nyalpine90]

i think its time to refresh my resume and upload to Linkined

[M_Six]

We both work at the same university. We're working from home now. The biggest change, surprisingly, is that I get more work done being at home. Instead of getting ready for work between 7AM and the time I get to the office at 8:30, I'm now at my desk and working by 7:30. Then I'm "on" until I go to bed around 11PM. While I certainly don't work all the time after 5PM or so, I still will handle tickets and emails after that time. I've had some pretty busy evenings lately.

Wifey is tenured faculty and I support our online class program, so we're in no danger of losing our jobs, but I worry about the university in general. The issues caused by this pandemic have cost the state universities $244mil. That's a hard bill to pay when the future is in such doubt.

[MaC-N54-E82]

Originally Posted by Rmtt

Plant Engineer in a chemical plant that is privately owned. Right now we have more work than ever as we have over 400 products.

Talking with the CFO yesterday, our plans are to keep pushing as much product out the doors as we can, temporarily suspend Capital Projects, and put away as much money as we can in case things drop off later.

We want to keep our people employed as long as possible without having to make any cuts.

Sounds like my situation except we're publicly owned and I'm the financial controller. Cash is king and will continue that way for the foreseeable future. Cash conservation is the name of the game.

[pennsiveguy]

Originally Posted by M_Six

...The issues caused by this pandemic have cost the state universities $244mil. That's a hard bill to pay when the future is in such doubt.

I'm a bit surprised by that figure. What's causing the losses? I would think that it's business-as-usual on the revenue side as long as tuition and government funding streams are still flowing.

[M_Six]

Originally Posted by pennsiveguy

I'm a bit surprised by that figure. What's causing the losses? I would think that it's business-as-usual on the revenue side as long as tuition and government funding streams are still flowing.

All the state universities are having to give back housing and dining costs as well as losing the income from dining halls and food courts. For instance, Wifey and I eat at the dining halls many times per month. We're not doing that now, but the university is still paying the food service workers. You look at what that costs a big university like Univ. of Illinois, and the bucks add up quickly.

On top of that, there are many, many students whose tuition is partially paid by their student worker jobs. The university can't just stop paying those students or they will be dropped from their programs. There are many such intangibles that are not widely known by the public in general.

[pennsiveguy]

I run my own small software consulting company. I finished up a project on March 20 and have been soliciting new work since then but the pipeline is, as you might guess, flowing a little slow. It's starting to pick up this week. I sense that the panic is subsiding and companies are getting a better handle on budget impacts and what readjustments they'll have to make.

I expect some occasional downtime, but this is the only real unplanned downtime I've had in the last 15 years. It's been a good run and I'm not stressed about this hiccup, although I would prefer to know when it was going to end so I could enjoy the break a bit more.

[pennsiveguy]

Originally Posted by M_Six

All the state universities are having to give back housing and dining costs as well as losing the income from dining halls and food courts. For instance, Wifey and I eat at the dining halls many times per month. We're not doing that now, but the university is still paying the food service workers. You look at what that costs a big university like Univ. of Illinois, and the bucks add up quickly.

On top of that, there are many, many students whose tuition is partially paid by their student worker jobs. The university can't just stop paying those students or they will be dropped from their programs. There are many such intangibles that are not widely known by the public in general.

Got it - all that makes sense. I'm sure the public institutions will be reimbursed eventually from the public coffers. But the smaller private colleges are probably in a world of hurt. They're seeing their endowments lose value and are probably having to dip into them to cover expenses.

There's some speculation that this will be the impetus for major change at colleges and universities, but I'm skeptical. I think there will only be major structural changes when/if higher education is weaned off of its addiction to student loan debt, but I'm not climbing onto that soapbox here.

[Our03z4]

Well I thought this would be a rough year for us but it actually is quite the opposite. People are sending us an unusual amount of work right now. Everyone says they want to make sure we make it through. Not to mention all the kind thoughts and words I'm receiving. Mighty big difference between now and the great recession, that was everyman for himself. Customers are even paying faster than normal. Only issue we are having was the stay at home order has delayed us by 2 weeks, luckily everyone understands and is being patient. 2 service industries here.

[M_Six]

Originally Posted by pennsiveguy

Got it - all that makes sense. I'm sure the public institutions will be reimbursed eventually from the public coffers. But the smaller private colleges are probably in a world of hurt. They're seeing their endowments lose value and are probably having to dip into them to cover expenses.

There's some speculation that this will be the impetus for major change at colleges and universities, but I'm skeptical. I think there will only be major structural changes when/if higher education is weaned off of its addiction to student loan debt, but I'm not climbing onto that soapbox here.

One change that is happening at our school is that *all* the faculty are finally learning about our Learning Management System (LMS), which is where the online courses reside. All classes, online or not, have a course shell on the LMS, but many faculty have never used it. Now all of a sudden they're beginning to understand how powerful a tool it is and they're starting to use our other tools that they've long neglected.