It was announced to all of us on Tuesday, that everyone, from the owner to the guys/gals that sweep the floors takes a 10% pay cut. I keep thinking... hmm.. when the pay cuts start, that usually means the beginning of the end... Fortunately I've been with this company for 15 years and I don't believe that will happen. They (owners) take pride in this being a family owned company and have been around since 1968 and I don't believe that they would let it shut down, even in the midst of this recession/depression (call it what you want). This is the first "drastic" move taken EVER in their history and it was tough for the big man to announce it - but he is very very grateful that his employees took it the way they (we) did - we understand and are all happy to have a job and will deal with the pay cut as best we can. We'd rather lose some than have none! But I know in the back of all our minds (about 700 or so of us) we still "wonder" .. and in this economy I'm sure you all know what I mean.
Anyway.. I froze my 401K - Heck that will give me back almost 1/2 of what I'm losing each week (and will save the company as they won't have to contribute their 50% of my contribution) -- plus it will stay safe. I haven't lost that much but I would rather not lose anything, so that puppy is being put on hold until further notice.
It's my chance to turn in my SUV early right now (Chevy's "pull-ahead" deal for leases) and I'm not sure what to do. I can wait as I don't have to turn it in.. it's just an incentive.. but I have a $400/month lease payment and I ALWAYS upgrade to a bigger/better vehicle and I can't afford that now. Well, I could but I still have that fear of the company closing (in the back of my mind) -- so then I wouldn't be able to afford a box to drive! So do I get rid of my SUV and get a stupid car that I don't like for a couple hundred bucks a months to save money?? Or wait it out.. Been tossing this one around for a couple days - looking at cars on dealer websites/official websites, etc.. I lease because I can't stand being in the same vehicle for long.. what to do....................