:thumbsdown:
Wow man, sorry to hear that. I couldn't imagine a 20% wage rollback :(
...
I got a 17% back in 2016 - I negotiated it to I think 13% but it wasn't great. They also took away our Health Spending accounts, Personal Spending Accounts, STIP, LTIP, and 9% RRSP matching - all combined was more like a 50-60% pay cut. Needless to say I didn't stay there long, but if all you got was 20% salary cut, that's obviously super disappointing, but it could be a lot worse. At least you have the luxury of being able to look for a new job while you're still getting a pay check. Where I have worked in the past, they aren't too thrilled about raising it back up when things get better either, so it might be time to start looking - they lose all the good people when they do that though, but a lot of companies DGAF.
I used to work for a small private company that was Chinese owned, we had management meetings about how the new philosophy was to get people to work way harder for way less money, with the dream of one day being successful LOL. I left ASAP and I think there are less than 5 of the original 100 people or so still working there, and every single one of them are job hunting still.
This is the 4th time in the past 5 years pay cuts have been implemented (however not this deep), in 2015 I had an 18% cut.
To be honest I am looking at this more as the kick in the ass to head back to school and take night classes. Unfortunately my education is pretty specific to this industry and I'll be stuck in the perpetual cycle unless I change something... The definition of insanity right?
Time to diversify.
Are you still on the well servicing side of things Vengie? Any clues as to who you might work for? I know a pile of the frac companies are doing different things with schedules, cutting back crews, reparking equipment right now. Just curious if anyone was touching wages yet in that world.
Still on the servicing side yes.
I have heard there have been layoffs in all pumping services, and I believe STEP is backing off on their day rates they were offering, even though they were just awarded two fairly large contracts (who knows what the pricing looks like though...).
Are you still in it?
EnCana is laying off in Calgary, Denver and Houston.
https://www.cbc.ca/news/canada/calga...jobs-1.5028755
Meg Energy yesterday
https://www.reddit.com/r/Calgary/com..._off_tomorrow/
I heard 20% from someone who works there.
We just had a company conference day.
State of the union address says our financials are looking very good for the 2018/2019 year. Looks like I'm never getting laid off at this rate. It's been my busiest Dec/Jan/Feb since 2012/2013.
Noticeably light traffic this morning. Were there layoffs we didn't hear about?
^^^ I meant layoffs last week. Crowchild and Memorial seemed light. Anyone else notice?
Probably half the cities car batteries froze over the weekend lol.