Good bye benefits
So this weekend I was mentioning to my brother that althoug my company has been weathering a lot of criticism in the media we are still a good place to work. We are a strong company who cares about the employees. We have good benefits. The executives' pay and benefits were pretty high (although not out of line with execs at other companies), but the company was going to be making some changes to address exec pay and bonuses and satisfy the public's complaints.
This morning there was an announcement that the executives salaries would be frozen, but their travel allowances increased, and everyone's benefits cut. Starting in December my paycheck will be about $35.00 less. That adds up to aout $925 a year. Also, the Extended Illness Bank would be frozen and none of the 800 or so hours I have banked can be used. Ever. If I am sick I have to use PTO. It used to be that I could use PTO for the first 3 days and after that the paid time off would come from my EIB. And Family Medical Leave Act (FMLA) can not be used to take time off to care of a sick family member. That makes the "Family" in the FMLA kinda off, huh?
I'm pretty bummed out.
This morning there was an announcement that the executives salaries would be frozen, but their travel allowances increased, and everyone's benefits cut. Starting in December my paycheck will be about $35.00 less. That adds up to aout $925 a year. Also, the Extended Illness Bank would be frozen and none of the 800 or so hours I have banked can be used. Ever. If I am sick I have to use PTO. It used to be that I could use PTO for the first 3 days and after that the paid time off would come from my EIB. And Family Medical Leave Act (FMLA) can not be used to take time off to care of a sick family member. That makes the "Family" in the FMLA kinda off, huh?
I'm pretty bummed out.