COVID-19 Job Impact?

[luckydude]

DW's megacorp employer just announced cancellation of all management bonuses for the current fiscal year and instituted a hiring freeze until further notice.

Has anyone else's job (if still working) been impacted by the COVID-19 market meltdown and lockdown?

 

[Sunset]

Your title is has the numbers transposed.

 

[Calico]

My job is not affected.

However, my neighbor told me (from a safe 20 feet away) a few days ago that his hours have been reduced by 2/3.

 

[luckydude]

Your title is has the numbers transposed.

Sorry, too many beers while locked down at home

 

[Alan]

Your title is has the numbers transposed.

I fixed it.

 

[Midpack]

I’m retired, but in the 2008-2009 financial crisis my Megacorp suspended all bonuses for 6-9 months. And we reduced employee hours so obviously we weren’t hiring either. It was several years before our income statement was completely healthy again.

So I’m not at all surprised that some companies are doing the same now. When your top line collapses, especially this suddenly, you really don’t have a choice if you want stave off bankruptcy. Megacorps don’t have unlimited cash either, and they’ve seen this movie before.

 

[gwraigty]

DH is still going into the office. Most of his coworkers are working from home. He's enjoying the peace and quiet, but he misses the on site cafeteria, which closed weeks ago. DS hours in the nursing home kitchen have recently increased. DD has taken the biggest hit. Her hours at Panera Bread went from 40 to about 1/4 of that. Her main job was the dining room, which has been closed for several weeks. She's been getting some cross training in dishes, which has been beneficial for her. Take out business there has slightly increased over the last week or so.

 

[youbet]

My job as household investment manager and house/car maintenance person seems secure. DW's position as Director of Household Spending is locked in. Of course, we have to avoid the virus or everything could go to hell.....

 

[MichaelB]

My job as household investment manager and house/car maintenance person seems secure. DW's position as Director of Household Spending is locked in. Of course, we have to avoid the virus or everything could go to hell.....

 

[jfn111]

My son has been furloughed for 2 weeks from his manufacturing job. They are supposed to go back tomorrow but we'll see.
His roommate, who works for a printing company, has had his hours reduced to 24 hours a week.
I'm starting to see a slowdown in my real estate gig. March was the best month I've had but April has been slow. (I am getting my yard work done.)

 

[Gumby]

My job as household investment manager and house/car maintenance person seems secure. DW's position as Director of Household Spending is locked in. Of course, we have to avoid the virus or everything could go to hell.....

My current job as scullery maid, gardener and general factotum also seems quite secure.

 

[sengsational]

DD0 is still working for the Megacorp, remotely. She had done a good bit of remote work BCV. DD1 is still working for Startupcorp. She had done a good bit of remote work BCV. Thank the seven that they're in those kinds of jobs (medical manufacturer technology and telecom marketing technology).


DD0-BF is a school councilor, working remotely, never done that before and not sure how sustainable that is. DD1-BF is graduating from an elite program soon, so had offers from many big 8 firms. BCV, he picked one offer and was accepted, but now that have delayed his start date.

 

[cathy63]

We've talked a bit about working conditions on our video calls with extended family the past few weeks. A lot of us are retired, but here's what's going on with the ones who are (or were) not.

DD works for a veterinarian, and they're considered essential, so she's still working mostly full time. It sounds like they're going through their waiting list of patients who need a specialty consult to fill in some of the gaps caused when people don't want to make a trip to the vet's office right now. They've also changed their procedures to do all the intake conversations over the phone and someone goes out to the car to pick up or deliver the pet so there aren't any people coming in to the office except those who work there.

Nephew is a parole officer and his wife is in mortgage marketing. They are both working from home full-time and taking care of their baby. The mortgage industry is overwhelmed with refis and new loans and busier than ever. The work of the parole officer is different but still doable via voice and video calls.

Niece1 is on maternity leave from a major tech company. Her husband does something related to management of a port (with container ships) and he's working full-time from home.

Niece2 is in the restaurant industry on the events side. She's been hit pretty hard because all their events are cancelled and have been refunded and they don't know what dates to use for rebooking. For now she's getting paid her base salary, but no commissions. Her husband is in construction and working on a college degree. His schooling has moved to on-line.

BIL who was on the kitchen staff at a restaurant has retired 6 months earlier than planned.

BIL who works in home construction and has a new kitchen remodeling project starting up this week.

 

[ncbill]

Will know by end of next month if DW's annual teaching contract is renewed at her private school.

 

[Tiger8693]

DW is down to 10-15 hours/week. An unfortunate side effect of them keeping her working is she earns too much so no unemployment (state or federall $600 adder). She is one of the cases where she would be better off financially if she we furloughed.

DD#1 has been furloughed for 3 or 4 weeks. UI is applied for, and will cover 80% of her pre-furlough income.

DD#2 still working at MAACO as GM. Really picked up after stimulus checks started coming in.

 

[Just_Steve]

Wife, sitting home getting paid for not doing anything, job cannot be done remotely.
Daughter and future Son in law working 40 hrs a week from home, hope they don't kill each other.
Son working 60+hours a week, front end supervisor in big box store. I hope he don't bring home the COVID.

 

[pacergal]

DH and I retired, but DS laid off, applied for UE a month ago and finally started receiving checks. DSIL owns his own business with his dad--they are still working, DD home with the kids.

 

[FIREd]

Mother and SIL have been furloughed (but still getting 80% pay). Stepmother was furloughed too though it happened only days before she was due to retire anyway. Only my sister still works full-time (her job is considered essential).

 

[YVRRocketSurgery]

Pretty tame impact at my megacorp so far <knock on wood>
No layoffs or impacts to health benefits. However, all raises deferred to July and some financial compensation perks/benefits also suspended to July. That said, if commerce doesn't start trending towards some form of normalization by midyear, I can see more drastic measures.

 

[badatmath]

No impacts at my megacorp yet. Got bonus as scheduled and they have been adding staff over the last 2 months. I don't kid myself that there will never be an impact but I am not worried in the next few months anyway. If they permit it my job could be done at home indefinitely.

 

[aaronc879]

All the companies I contract with are shut down. Have been for a month, likely will be for at least another month.

 

[Ian S]

DH was furloughed effective April 1. The company (travel related) will pay his health insurance premiums for some period of months. He has gone on UI and has already received two payments including the $600 from the feds. He does not have to look for work and his weekly report is trivial to submit.

 

[Markola]

Not yet but the dominos are getting wobbly at work. I should know something in two weeks.

 

[HtownRose]

I'm voluntarily on leave with partial pay til at least July, probably Sept. Don't think I would be eligible for UI in Texas, but have heard some in California have been approved for it.

My employer accepted the airline relief which guarantees no involuntary furloughs or layoffs til Oct. I expect retirement incentives to be offered before any furloughs or layoffs. I also expect lots of outstanding requests from full time employees to go part time will be approved.

WFH has never before been available for my position, but it is now - hoping if I get to keep this job that I can WFH.