COVID Job Impacts

[throwittoblythe]

I know there was a thread to this effect a while back, but I couldn't find it.

How is everyone doing with COVID job impacts? Anyone been laid off? Still looking for work? Business as usual?

My company just announced furloughs for Q1 of 2021. Everyone at the company (450 people) are required to take 3 weeks unpaid between Jan 1 and March 31. This is the first time in my career I've ever dealt with anything like this. Part of me is annoyed because I was heavily recruited to join this company about 2 months ago. On the other hand, if this is the only cutbacks, it amounts to some extra time off at a cost of 6% of my pay. Thankfully, our family is in a good financial position to weather this. I'm thankful it wasn't full layoffs and loss of benefits. Though, I will have my eye out for future signs of ill health in the company. Leadership insists it's just a slow Q1 and things will pick up rapidly in Q2 and beyond.

 

[CycloneErik]

Been laid off since March at one job. Another isn't going for the spring, so 1.
Thankfully, I do most of my searching in a field flush with positions contingent upon funding, so those searches are cancelled more often than not.

 

[CycloneEggie]

Paid Furloughs between March 2020-June 2020. This was actually part of the Cares act where companies could get tax benefits for paying employees to not work. I work for a major Fortune 500 corporation and it felt kinda weird that we could take advantage of this which was probably meant for small businesses. It was good because business was slow at the time, but really things have picked up.

 

[throwittoblythe]

Paid Furloughs between March 2020-June 2020. This was actually part of the Cares act where companies could get tax benefits for paying employees to not work. I work for a major Fortune 500 corporation and it felt kinda weird that we could take advantage of this which was probably meant for small businesses. It was good because business was slow at the time, but really things have picked up.

Im actually quite busy at work right now. So it’s a little frustrating to be forced to take time off when you have plenty of profit-making work to do. However, our leadership decided to apply furloughs equally and not based on sector workload.

 

[Beernuts]

I'm involved in agriculture. Haven't missed a day, hour or minute due to the virus. Our company froze raises in 2020, but also made the decision not to take the PPP money. Leadership felt the funds should be directed to smaller business / owners rather than larger companies that had enough reserves to keep day to day operations going. We need a vacation...but waiting as we want to travel.

 

[BCClone]

Im actually quite busy at work right now. So it’s a little frustrating to be forced to take time off when you have plenty of profit-making work to do. However, our leadership decided to apply furloughs equally and not based on sector workload.

If it’s over 2-3 days consecutive you can draw unemployment. I always did weeks when I was a manager. Some will do two days one week and two the next to cut unemployment draws. I looked out for the employees the best I could.

 

[SCNCY]

Business as usual for me. I actually got a new job in September that increased my pay by $15k (although, my salary was low for the area I am currently living in. I am probably more in line with the average now). Only change is that my new job wants me in the office 3 days a week, where my old employer was work from home since March.

 

[ISUCyclones2015]

Never been busier but am thankful for that.

Currently on my first vacation since last New Years. Staying home but at least I ain't working.

 

[cycloner29]

I'm involved in agriculture. Haven't missed a day, hour or minute due to the virus. Our company froze raises in 2020, but also made the decision not to take the PPP money. Leadership felt the funds should be directed to smaller business / owners rather than larger companies that had enough reserves to keep day to day operations going. We need a vacation...but waiting as we want to travel.

I'm in the ag sector also. Been working from home since March. We've had a great year, got a 15% raise in October, no one is traveling so our bottom line is better. Our biggest issue is we do get some of our products from China and the lead time has gone from like 3 months to 7 months now. We are starting to feel the pinch as our domestic manufacturers has slowed throughout the year and our inventory has really dropped since we gained new business, and increase in sales overall. Thus we are running low and waiting for shipments of products. Changing manufacturers in mid stream is not fun either considering the pandemic this year. The owner is pleased with the way things are going so overall things are good.

Taking part in a virtual trade show is a joke!!

Hopefully I get a Puerto Rico trip, Hawaii trip, Vegas trip (ISU game), and trip to Mexico in 2021.

 

[throwittoblythe]

If it’s over 2-3 days consecutive you can draw unemployment. I always did weeks when I was a manager. Some will do two days one week and two the next to cut unemployment draws. I looked out for the employees the best I could.

Thanks for the tip. The company is fully flexible on it. I’ve heard that in Iowa it’s got to be weeks. So I’ll take mine in one-week blocks. Though some people in other states can do every Friday for the whole quarter.

 

[BCClone]

I'm in the ag sector also. Been working from home since March. We've had a great year, got a 15% raise in October, no one is traveling so our bottom line is better. Our biggest issue is we do get some of our products from China and the lead time has gone from like 3 months to 7 months now. We are starting to feel the pinch as our domestic manufacturers has slowed throughout the year and our inventory has really dropped since we gained new business, and increase in sales overall. Thus we are running low and waiting for shipments of products. Changing manufacturers in mid stream is not fun either considering the pandemic this year. The owner is pleased with the way things are going so overall things are good.

Taking part in a virtual trade show is a joke!!

Hopefully I get a Puerto Rico trip, Hawaii trip, Vegas trip (ISU game), and trip to Mexico in 2021.

15% raise? Man, better raise the budget I have for crop inputs this year.

 

[ClonesTwenty1]

Was put on reduced hours in March. Laid off in September. Now I’m watching my girlfriends child during virtual schooling all week. Thankful for PUA so there’s at least some income on my side.

 

[BCClone]

Thanks for the tip. The company is fully flexible on it. I’ve heard that in Iowa it’s got to be weeks. So I’ll take mine in one-week blocks. Though some people in other states can do every Friday for the whole quarter.

Do double check with the unemployment office first. I don’t trust even last months info with this Covid situation.

 

[cmjh10]

When the packing plants had their issues, it was dicey for a couple months. Other than that, not much different. More push on costs savings, and there are no raises for next year.

Trying to change jobs, but the uncertainty of everything really has me nervous to jump in. Figured whatever job security I have is worth the extra stress right now.

 

[throwittoblythe]

When the packing plants had their issues, it was dicey for a couple months. Other than that, not much different. More push on costs savings, and there are no raises for next year.

Trying to change jobs, but the uncertainty of everything really has me nervous to jump in. Figured whatever job security I have is worth the extra stress right now.

I dealt with those same anxieties when considering a new job. We wanted to move back to central Iowa and the job change was part of that. These folks recruited me hard to join them. As you might have guessed, they painted a very rosy picture. I'm 2.5 months in and they announce furloughs, so that was pretty frustrating to hear.

 

[throwittoblythe]

Do double check with the unemployment office first. I don’t trust even last months info with this Covid situation.

Will do. When I checked last week, it seemed like it has to be in week-long blocks (may have been 3 days, but I didn't look closely since I was considering a week at a time anyway). Though, the articles in the Reg about people being told to pay back their unemployment benefits because they were approved when they didn't qualify is a bit concerning. We don't NEED the unemployment benefits right now, but replacing some of that lost income sure would be nice.

 

[BCClone]

Will do. When I checked last week, it seemed like it has to be in week-long blocks (may have been 3 days, but I didn't look closely since I was considering a week at a time anyway). Though, the articles in the Reg about people being told to pay back their unemployment benefits because they were approved when they didn't qualify is a bit concerning. We don't NEED the unemployment benefits right now, but replacing some of that lost income sure would be nice.

Can always just place it in savings and wait a year. Like a special little vacation fund in a year if no issues.

 

[cstrunk]

My industry is starting to feel some of the effects, but they still haven't been very severe compared to many other industries/companies. If the Federal government prints some more money and helps out the states with a bailout soon, that would help us out.

Since I'm in the transportation industry, a lot of the funding is going to come from taxes created from people actually traveling back to normal levels. We're estimating that within 4-6 months that starts happening, but maybe not until farther out into the 6-12 month period.

 

[throwittoblythe]

My industry is starting to feel some of the effects, but they still haven't been very severe compared to many other industries/companies. If the Federal government prints some more money and helps out the states with a bailout soon, that would help us out.

Since I'm in the transportation industry, a lot of the funding is going to come from taxes created from people actually traveling back to normal levels. We're estimating that within 4-6 months that starts happening, but maybe not until farther out into the 6-12 month period.

We're in the same field. I work for a specialty construction company. A federal infrastructure package would infuse some money into the system and help some states backfill that lost gas tax revenue during the shutdowns/WFH periods. Even if that's something the new admin takes on, it'll be a while before it actually gets drafted, negotiated, passed, and implemented, in a best case scenario situation.

 

[Joe4Cy]

Maybe fall 2019 wasn't the best time to start a business? When March hit, any opportunities I had shut down. I have a couple of side hustles that keep some cashflow, but with all the local schools teaching remotely at the moment, I'm not getting much work. We've been keeping our head above water, but things are getting tight.

I have renewed energy for the business and holding true to my dream. I know my business services are needed. Just need to get a few gigs sold to get the ball rolling.