I'm going to go off on a tangent today and veer away from my usual beer posts to talk about the recession a bit. Ya, I know, the recession is hitting everyone hard these days and nobody likes having to deal with it. Well today I got hit with a bit of bad news from work. Granted it could have been a lot worse, but still, it's hitting home and in the wallet.
My regular day job has kept me happily employed for the last 25 years. Today, our corporate CEO announce our quarter one earnings for the company and in a nutshell, we missed our numbers for the last 3 months. So, no surprise, our CEO is obligated to the shareholders to make some adjustments in order to have a shot at making numbers for next quarter and the rest of the year.
The news they gave to all of us employees was this: We could do 20% layoffs company wide but they don't want to do that. Instead, they are going to cut salaries across the board and cut some of our benefits back. OK, fair enough. I can handle not potentially losing my job in exchange for a cut back. Afterall, our company has had to do this a couple of times in the past.
During the last few years, it's been nothing but layoffs and dodging bullets to keep my job. I was on the chopping block 3 1/2 years ago but managed to get a last minute transfer to another account within the company.
I'm glad to see that the company is considering alternatives to layoffs in these tough times. It's better to retain good people than to let them go because eventually we will come out of this recession and will need to be at full strength in order to move forward and stay competitive.
Still, the thought of having to do with less money for the foreseeable future is hitting me tonight. I'm consoling myself with a glass or two of Deschutes Black Butte XX tonight and contemplating my future. It's bad enough to lose income but when you top it off with the fact that this economy is going into the dumpers right now we all need some glimmer of hope to hang on to.
I'm hoping that all of you out there are managing to hang on to your jobs and keep a steady income coming in. I hope we can all still have the means to sit back and enjoy some of life's rewards. For me, family, friends, and the occasional good beer at the end of the day is all that I need.
I hope that the recent government bailout will help kick start the economy a bit. I realize it will probably get much tougher before it gets better so we'll have to buckle down as best we can for the next year or so.
I raise my glass to you, good readers, tonight and hope that the times ahead won't be too tough on you all. We could all use some good news. Let's hope we all get some soon. Cheers!
This article came from FermentedlyChallenged.com
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Wednesday, February 18, 2009
Recession hits home
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I feel your pain... my job was eliminated after 18 years, and no severance pay nothing because the company had nothing!
ReplyDeleteThere was a time when i thought of quitting work to focus on raising my kid. My husband earned enough to keep us happy and well fed. Just recently though, neighboring companies have started axing employees so I have had to postpone my plans of quitting my day job as a writer. It feels like we're tiptoeing everyday.
ReplyDeleteBy the way, my husband loves beer and regularly drinks beer through thick and thin. I swear he loves beer more than he loves me. Hahaha
Nice to read some realistic but optimistic commentary on the economic situation. Tough for a lot of readers out that to realize that as bad as it's getting for many, it's still better than the vast, vast majority of the world's citizens. Also, that's an excellent choice for celebration, and one that I'm jealous doesn't make it to my neck of the woods, Brooklyn.
ReplyDeleteThanks for the comments all. I think just about everyone has a story to tell these days on how the economy has affected them. It's during these tough times that having good friends can really help.
ReplyDeletegrace - I wouldn't worry about your husband. A good beer can never replace the love of a woman.
I've been lucky that my wife was able to stay home and raise our kids when they were young and in school while I worked. Now that our kids are starting to leave the house, my wife is working part time to bring in some extra money. Every bit helps these days.
redkathy - sorry to hear about your job. Not every company can afford to give severance anymore. My company has severely cut back on severance for laid off workers too. It's not nearly what it use to be.
Luckily, all recessions in the past have eventually come to an end. So too will this one someday. We just have to find a good way to get through it.
Ugh. Sorry to hear about the job amigo. At least it's not going the way of Odell's Red. Keep the faith... your chin up, and your mouth to a pint! ;)
ReplyDeleteA wise man once said, "Relax, don't worry, have a homebrew."
ReplyDeleteHow true it is.
Yes the old saying is probably still good advice, but I can't help but wonder if America has been relaxing way too much lately and that's why we're in a recession.
ReplyDeleteI was not as lucky as you, Dave. My position was eliminated as part of a "cost reduction" back in December. Tying in homebrewing, I'm glad I picked this up several years ago, because I don't have to sacrifice quality for cost. :)
ReplyDeleteYou're right - it could be far worse, for all of us. 8 years ago, I sat in a room where our Executive Director had just announced that he had to lay off 10 people in order to deal with recent budget cuts - and saw one of the most amazing things I've ever seen. One after another, six workers stood up and said "Cut me. I'm single. I'll manage. Don't cut so-and-so - she's supporting a family." or words to that effect...and then one after another, people offering to cut their hours, work a shift as a volunteer, any other thing they could think of to cut costs. It meant a LOT to me because I had been there the night before as the director and the personnel director and the assistant director agonized over which of the 90 workers to let go - with tears streaming down their faces.
ReplyDeleteThese were people making just over minimum wage working in a homeless shelter. I took away from that job a rich appreciation for the fact that we are a GOOD people, and I keep remembering that as I listen to the economic news. We are a GOOD and STRONG people. We WILL get through this and come out on the other side.
Chameleon - all I can say is "wow." It makes me feel good that people like that exist.
ReplyDeleteCheers, Dave, and good luck.
ReplyDeleteI like to think that most people are similar to those in chameleon's post. I may be naive to think so, but I will continue to do so, anyway.
ReplyDeleteI wish all of you the best of luck in these tough times, as we all deal with the cutbacks, concessions and downsizing.
May your beers never be downsized!
Nice comments. Thanks Chameleon for sharing that story. Hope is always there as long as one individual still believes.
ReplyDelete