[Hawkcreek]

One of the major contractors on the North Slope has reported that they are being forced by the field owners to re-negotiate their contract to lower wage rates of their employees on the Slope. Employees are being told that the decrease could be as much as 25 percent.
The interesting thing is that no one feels like they are in a position to carp about this since some fairly large lay-offs have already been anounced.

What would you do if you were told that your salary was going to be cut by 25 % ?

[endtimes]

some of the pie is better then no pie at all

[WyoDutch]

People always have the right to work for less instead of standing up for themselves and their families.

[TWilliam]

What would you do if you were told that your salary was going to be cut by 25 % ?

Ummm... switch from top shelf to well drinks?

[SeaGypsy]

This is a couple of months out of date, but it shows the mining sector is feeling the pinch. Australia has made wage lowering almost impossible for employers, so instead of this the workers get the boot. Often their jobs are retitled and re advertised on a lower pay scale.

http://www.wsws.org/articles/2008/dec20 ... -d23.shtml

[Blacksmith]

People always have the right to work for less instead of standing up for themselves and their families.

I wonder how you can stand up when the wolf is at the door. Your labour is a service, you sell that service for the highest price you can. Exempting wage and price control that is pure capitalism in operation.

[ReverseEngineer]

People always have the right to work for less instead of standing up for themselves and their families.

I wonder how you can stand up when the wolf is at the door. Your labour is a service, you sell that service for the highest price you can. Exempting wage and price control that is pure capitalism in operation.

Since when is this economy capitalist? The Goobermint is buying up all the stocks in all the failing companies and consolidating down to one state bank. Far as I can tell this is socialism, not capitalism.

Reverse Engineer

[TreebeardsUncle]

Actually, oil workers salaries were coming up the past few years to the point where folks were going back into chemical and petroleum engineering.

g

[Blacksmith]

People always have the right to work for less instead of standing up for themselves and their families.

I wonder how you can stand up when the wolf is at the door. Your labour is a service, you sell that service for the highest price you can. Exempting wage and price control that is pure capitalism in operation.

Since when is this economy capitalist? The Goobermint is buying up all the stocks in all the failing companies and consolidating down to one state bank. Far as I can tell this is socialism, not capitalism.

Reverse Engineer

Hey you voted for them!

[vision-master]

One of the major contractors on the North Slope has reported that they are being forced by the field owners to re-negotiate their contract to lower wage rates of their employees on the Slope. Employees are being told that the decrease could be as much as 25 percent.
The interesting thing is that no one feels like they are in a position to carp about this since some fairly large lay-offs have already been anounced.

What would you do if you were told that your salary was going to be cut by 25 % ?

Go out on a bad-back disability.

[ReverseEngineer]

Hey you voted for them!

I did not.

[eastbay]

Hey Hawkcreek. What a drag to lose so much salary. I would keep working, at least for now, but keep an eye on inflation as the months tick by. With unemployment rising and the economy deteriorating you are in a very good position even with a 25% cut.

Cut the cash flow as aggressively as possible, save as much as you can, and do as you always do; wisely prepare. But keep the job because energy will start rising again fairly soon meaning your job is needed and critical.

[Nefarious]

The same is happening here in the GoM. A major oil producer told us we had to change our contract rates. Day rates on equipment had to be cut by 10% and mark ups on all billable items had to drop to 6%. They left our labor rates alone for now but did hear that another contractor had their labor rates cut as well as everything else.

[drew]

I just got a %6.5 pay cut effective today.

Yay......

Well, at least I still have a job....


Drew

[Hawkcreek]

Hey Hawkcreek. What a drag to lose so much salary. I would keep working, at least for now, but keep an eye on inflation as the months tick by. With unemployment rising and the economy deteriorating you are in a very good position even with a 25% cut.

Cut the cash flow as aggressively as possible, save as much as you can, and do as you always do; wisely prepare. But keep the job because energy will start rising again fairly soon meaning your job is needed and critical.

Haven't lost it yet, but you are right - I will keep working if it happens. Even if I had to take a 50% pay cut, this would still be a good job.
But I am starting all over on preps, due to a divorce, but such is life. I am still having a good time.

[bodigami]

The same is happening here in the GoM. (...)

GoM = Gulf of Mexico?

[Pretorian]

USD value grew more than 25% in the last 6 months.. Employers are forced to either give you a 25-30-35% raise (i.e., keeping you on a payroll) or shove a boot between your buttocks somewhat deeper than you might like. Once dollar will start falling again, and wages will be reduced through inflation every month, you will have your computer desk to sleep at back.

[Nefarious]

The same is happening here in the GoM. (...)

GoM = Gulf of Mexico?

yes

[Pretorian]

It never occured to you that you are getting paid too much money for what you do?