Why is it recommended that people living paycheck to paycheck somehow have a 6mo reserve in liquid assets... but multi-billion dollar corporations financially melt down at the slightest hint at instability?
My wife is extremely lucky. Her company just battened down the hatches. They terminated all temps and contractors. They then dissolved a future projects team, and used those employees to fill the vacated temp and contract slots.
The owner/COO reduced his salary to $0.00/mo, and all executives took a 25% pay cut.
All internal incentive/game programs that have cash value (points) have been suspended, and payouts to employee accounts from them halted (most of these were basically beta testing of future projects). Employee point accounts are still open and redemption of points already earned is unchanged.
All purchases not already budgeted require COO signature. Complete gutting/renovation of one building, prompted by a fire caused by a Samsung cellphone blowing up, continues until completion of the currently active work/contracts.
COO sends out biweekly update info to all employees (about 5000 globally) as situations change. Has been keeping tabs on the relief bill and informed the employees that any money to the company will be distributed based on income brackets, bottom up. He’s done he same with all the recent “stimulus” funds passed down. He distributed those funds to everyone’s 401k.
Employees that had laptops were instructed to work from home weeks ago, and laptops for those that didn’t have them yet were purchased by the COO personally to expedite getting his people home by cutting the red tape.
Needless to say their morale is high and, honestly it’s refreshing.
I work in a position that was deemed “nationally essential” years ago, so I’m pretty safe for now.
Been trying to help out where I can. Tipping the baristas and the dudes that make my breakfast burritos to go, $20 a visit. Paying (hemorrhaging?) my daycare bills, even though my kids are hunkered down in the woods with my parents. It’s hard because I normally help others by physical assistance and the like. Social distancing and this damn lingering cough keeps me isolated.
I feel for those hurting, just keep your witts and get creative, don’t be afraid to ask for help and accept it when offered. In 1998 I was living in my car using the CRV to eat. These are the times when you learn who your true friends are.