Have your company taken any cost down actions under current economic crisis?

Our clients are not immune to the effects of this unprecedented global crisis. We have been working with many of them daily, assisting them in taking the steps and making the critical decisions that will enable them to ride out the current storm and, perhaps, emerge stronger when the economy settles. The following are just some of the issues with respect to which we have provided support and counsel to our clients.

I own my own home business, but my profits were horrible last month so I made less money for a December that is seriously bad, but believe it or not business has picked up since the first of the year. My husband's company however will not be giving out bonuses this year, and will likely be laying people off in February. He got promoted several months ago, but has to wait till March to get a raise, that is if he does not get laid off. Had he not been promoted he likely would not get an increase at all as many people are not. Even so his increase for the promotion will not be as large as it would have been had he been promoted a couple of years ago. But we are lucky he has a job, as many people do not.

My husbands company has laid off many people and has fired several upper management employees that have been with the company for years. They are also forcing early retirement on many of the older employees. This is a major corporation that operates in many states. They are running what they call a skelton crew, just to get through the winter months. Hopefully things will pick back up in the spring. You are lucky to still be working, be thankful for that much.