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View Full Version : I am probably going to have to take a pay cut at work



emmcee
05-08-2008, 09:26 PM
Have any of you Shackies worked for a company that filed a Chapter 11 bankruptcy petition?


Last Friday the boss filed a Chapter 11 bankruptcy reorganization petition. We have not received our payroll checks for the week of 4/18. Had some emergency funds approved for week of 4/25 and 5/2. Hope we get more emergency funds for tomorrow's payroll. But the boss called me and the controller in his office this p.m. and gave us the low-down for work and the Chapt. 11

2 men came to the office this a.m. who were sent by the bankruptcy court and they told him, he had to have worker's comp insurance by tomorrow or we're closed down. Had no wc since April, just holding our breath that no employee or otherwise was hurt. I work for a trucking company, you know, the big rigs that no one likes because when the truck passes us on the highway and we are in a little car, it feels like you're being blown off the road. Anyway, back to the story, so they (bankruptcy agents) call a payroll outsource co that we most likely will have to use because of the work comp issue and that means at least 2 people will lose their jobs and the rest of us most likely will have to take a pay cut. If we don't have the sales to keep us afloat, most likely we'll not make it and will close. The boss is having to file personal bankruptcy tomorrow to try to save his home.

I've been figuring out what % I could take & survive. At least it's a job.

But this Chapt. 11 has been such a mess. So tomorrow a.m. I have to be at work by 7:30 or 7:45 so Judy (controller) boss and me can discuss this situation again.

IMBlessed5
05-08-2008, 10:00 PM
WOW! That's such a sad and sticky situation! I hope everything works out for you!

dreis1
05-08-2008, 10:11 PM
Wishing you the very best. Glinda

threefriends91
05-09-2008, 07:43 AM
How sad..l Pray things will ork out for the best..its so hard to know what to say at a time like this..l'll Pray it all works out okay.

pesc
05-09-2008, 08:06 AM
I hope everything will go for the best. I'll be praying for you!

teabear
05-09-2008, 11:01 AM
That's awful Michelle. I think it's time to get your resume out there quick. It can't last long like this. Lots of hugs.

mydogstinks2
05-09-2008, 12:02 PM
what a mess. I do agree with you that the pay cut is not good but at least it is still a job! Good luck!!

logcabincreations
05-09-2008, 12:28 PM
Oh my - you and the company are in my prayers.

cecescraps
05-09-2008, 12:35 PM
Sorry to hear this! I agree w/ Tami that you should go ahead and start putting your resume out there... doesn't sound good for the company or your boss or the employees. Hugs and prayers all around.

directmailscrapper
05-09-2008, 12:51 PM
What a shame! You ar in for a rough haul -- even if everything gets resolved. Lots of stress -- I'm so sorry! I have heard of some companies that file bankrupcy that pay a bonus to the folks who make it through -- many employees will jump ship. If you DO stay through, try to negotiate a "golden parachute" so you don't get screwed!

Swanie78
05-09-2008, 12:58 PM
I've never worked for one, but I feel for you. With the price of everything going so high, I feel bad for anyone having to deal with low wages or pay cuts :(

iloveflipflops
05-09-2008, 04:22 PM
Oh Michelle. You have been there so long too. Sorry to hear you are going through this and hope it all works out

Vintagegal
05-10-2008, 08:10 AM
Michelle, I'm so sorry you're going through this. I hope you are able to manage with a paycut. That is just too much to bear. I feel so bad for your company. I will definitely keep you in my prayers and wish that everything works out alright.

mahodgman
05-10-2008, 12:39 PM
I hope everything works out for the best for YOU! Please be sure to keep your eyes and ears open for other opportunities around you. I'm sure you are a very loyal employee, but you also have to support yourself. I wish you the best!

scrapsoon
05-10-2008, 03:38 PM
I'll be praying also that everything will work just fine for you.
Big hug...