Update on Salary Reductions & Raises

This coming Thursday, we will find out what percentage of salary reductions are happening at my husband’s workplace, and specifically, to his salary. He’s been told that the reduction will take the form of furloughs and layoffs – he’s been told who in his staff is being laid off and that his job is safe.

Our guess is that it will  be 1-2 weeks of furlough and that he will be able to spread it out so it isn’t a huge financial hardship. I’m hopeful that they will give us enough information that we will be able to adjust our budget and be responsible.

On an “up” note – I had my review meeting last week and after working really hard with my management team, I got my raise of…wait for it…4.5% – I was told that it was around 1.5% more than the top of the range for my job classification, and I haven’t had a raise since 2007, so I am very grateful. We are hopeful that this will offset the changes in my husband’s income. Of course, it would have been great to add a little more to our budget and our debt reduction, but we are blessed to even have jobs, so I’m not complaining.

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