If you manager think that you are overpaid , will employer allow to take a pay cut to stay employed. Recent days manager started talking about replacing me in all team meetings based on special skills. Any insights to navigate this situation.
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The only salary “reduction “ I am interested in is the one that will potentially come with a new job outside of WF after receiving my WF displacement and severance package!
I can imagine a scenario where you agree to a salary reduction thinking it saves your job, then the company displaces you anyway, and pays the lower amount for your severance. I wouldn’t negotiate down. Know your internal and external market value.
All evidence suggests that HY doesn't care about cost cutting, all they care about is domestic employee cutting. They want to get rid of us. All of us. If that costs the 'firm' money in the short term, ok. It's a price they are willing to pay.
Face reality. You have already been laid off -- even if still collecting a paycheck. It is just a matter of time. You can consider yourself virtually laid off. You know this... your co-workers know this.
Now you can in your grief it is natural to bargain. Realize that "lowering your salary" is bargaining. Bargaining is a natural response to the loss (or virtual) loss of your job. It is a way for you to try to regain control over a situation that feels and is uncontrollable.
Here are some tips for coping with the bargaining stage of grief:
Allow yourself to feel your emotions. Bargaining is a normal part of the grieving process, and it is important to allow yourself to feel whatever you are feeling.
Talk to someone you trust. Talking to a friend, family member, therapist, or other support person can help you to process your emotions and feel less alone.
Be patient with yourself. Grief takes time, and there is no set timeline for healing. Allow yourself to grieve at your own pace.
The only person who needs a pay cut at WF is Charlie.
Over paid at WFC? Must be a c-suite executive.
Nah.
This is incredibly difficult to read. Is that a little glimpse?
Would you be willing to lower your salary to levels in India? And forego labor protections, hefty healthcare expenses, etc.?
Cost-cutting involves more than just salaries. Corporations are also trying to sidestep labor regulations to save money and avoid costly lawsuits.