1st off, I realize I'm fortunate to still be working, so don't take any of this as complaining, ok?
Shit 'went down' at work today. Nothing too major, but serious enough to impact everyone & make some people panic. Company-wide online meeting today informed us all that in the US, our company's sales have dropped precipitously, so they will be taking fiscal action...
1) 10%, across-the-board pay cuts for everyone for the next 6 months (if business recovers quickly, maybe only 4 mos), from the CEO down. No surprise, really, as we had to do the same thing in '08-09. (Also, no overtime allowed)
2) Mandatory 1 week unpaid furlough, which everyone is required to schedule by the 8th, and take by the end of May. This may not be a one-time event, depending on the markets.
I'm sure to a lot of people, that seems like nothing - to me as well, I'm not bothered by this one bit. But there are a lot of either naive, or inattentive people who work for us, and they seem to have been caught unawares.
While I'm trying to have empathy for them, I also find myself thinking it's their own fault. These are the salaried employees who are still left working, some from home, but all still getting a paycheck. Our hourly staff were laid off two+ weeks ago. These people should've been saving up an emergency fund to prepare for this type of scenario, as we've been through it before.
< begin rant >
You see, one of the problems people in the US are facing (and I'm sure in other countries as well) is that they're financial idiots. They buy a huge house they don't really need just to impress people; they do the same with cars, 'toys' like boats, ATVs, motorcycles, 5th wheels, etc, but they don't pay cash, they borrow insane amounts of money at stupid rates of interest, make minimum payments, then cry & wail & gnash their teeth when something happens to their income & they can't afford all their 'nice things'. I know maybe a couple people who actually live below their means intentionally, but the rest are 1 paycheck away from financial ruin.
This even goes for people making minimum wage here. Yes, I know it's almost impossible to get by on that wage, but I've done it, and I know what it takes. The thing that *doesn't* help is the way so many of them justify their wasted expenditures by saying that their life sucks & they deserve to be happy, or some bullshit like that.Minimum wage job, but they own 3+ gaming consoles with dozens of pricey games, or they dine out constantly on overpriced crap food, or they spend it all on vices like booze or smokes, then complain about how poor they are.
< end rant >
I know, I sound like I have no sympathy at all, and like I'm just a big asshole, but I see it too much, and times like these show why I feel so strongly about fiscal responsibility.
I really do feel for the families (low-wage or not) who are trying their best to be responsible, to do what they can to minimize expenses, who don't go into debt for frivolous things, and still can't make ends meet. I know it's hard, and the US really does a shitty job with financial education. It's not actually taught in any of our schools, until you get to college/university, and even then, you have to choose the right classes.
It just frustrates me to hear a bunch of privileged rich people complaining about having to take one week off unpaid, or having their pay reduced 10% for a few months. Be an adult & get your shit together!!
Hrm... kind of lost the plot in this entry, had more to say but can't recall now... Oh well, maybe it'll come to me later.
6:42 p.m. - 2020-04-02
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