Pay Cuts
Mar 12th 2009, 3:03 pm
#31
If I have to explain...
Joined: Sep 2008
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Mar 12th 2009, 3:06 pm
#33
ex-expat
Joined: Nov 2008
Location: in front of my computer - in sunny Sussex!
Posts: 2,162
Re: Pay Cuts
hmm... yes. We got 50% of last month's salary on time, 50% a week later. Cash flow problems?! What's "cash flow"?!
Mar 12th 2009, 4:11 pm
#36
ex-expat
Joined: Nov 2008
Location: in front of my computer - in sunny Sussex!
Posts: 2,162
Re: Pay Cuts
That's why so many businesses are saying that crunch time is March (oops, this month!)... 3 months into the new year. If your clients are still not paying and you haven't found any new ones, well...
Mar 12th 2009, 4:37 pm
#37
Its all good
Joined: Oct 2004
Location: Dubai
Posts: 7,650
Re: Pay Cuts
it's more complicated - and worrying than that. Most sane businesses build in at least a 3 month float, but if your client hasn't paid you for 3 months, and the banks aren't lending, then you eat into that and there comes a time when you're paying your staff hand-to-mouth.
That's why so many businesses are saying that crunch time is March (oops, this month!)... 3 months into the new year. If your clients are still not paying and you haven't found any new ones, well...
That's why so many businesses are saying that crunch time is March (oops, this month!)... 3 months into the new year. If your clients are still not paying and you haven't found any new ones, well...
Mar 12th 2009, 5:06 pm
#38
ex-expat
Joined: Nov 2008
Location: in front of my computer - in sunny Sussex!
Posts: 2,162
Re: Pay Cuts
hehe - I didn't even contemplate you meaning "crap" as in "load of tosh"! Yes, it basically is crap, cos it shows that the entire business is basically FUBAR.
Mar 12th 2009, 5:25 pm
#39
If I have to explain...
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Location: Where ever the road takes me
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Mar 12th 2009, 6:44 pm
#40
why ayeeeee man!
Joined: Jan 2008
Location: Disco Gardens...
Posts: 11,370
Re: Pay Cuts
Sure I would, if it meant my job was secure.
Mar 13th 2009, 3:31 pm
#42
ex-expat
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Location: in front of my computer - in sunny Sussex!
Posts: 2,162
Mar 13th 2009, 4:09 pm
#43
If I have to explain...
Joined: Sep 2008
Location: Where ever the road takes me
Posts: 3,999
Mar 13th 2009, 6:13 pm
#44
ex-expat
Joined: Nov 2008
Location: in front of my computer - in sunny Sussex!
Posts: 2,162
Mar 14th 2009, 7:49 pm
#45
Banned
Joined: Feb 2009
Posts: 336
Re: Pay Cuts
We are still busy but have laid off some of our less productive free visa guys and given extra overtime to the men under our sponsorship.
Our thoughts were to look after our own first.
As an employer it is tough as the majors are all being told to delay payments which has a knock on effect.
Here in Bahrain we hear of people dropping off the radar daily. It is really sad to think of total family disruption.
A witty Arab banker friend asked me just yesterday when I was going to buy my first Porsche.
My reply...when I get a job in a bank to pay for it.
Lead balloon or what
Seriously though, we are all avoiding spreading the recession doom and gloom as it breeds upon itself.
Our thoughts were to look after our own first.
As an employer it is tough as the majors are all being told to delay payments which has a knock on effect.
Here in Bahrain we hear of people dropping off the radar daily. It is really sad to think of total family disruption.
A witty Arab banker friend asked me just yesterday when I was going to buy my first Porsche.
My reply...when I get a job in a bank to pay for it.
Lead balloon or what
Seriously though, we are all avoiding spreading the recession doom and gloom as it breeds upon itself.
