Drama Over....Hopefully

Well, the drama and angst is hopefully over.

The company announced a series of cost cuts, but none that involved any layoffs. The cost cutting involved:

• Hiring freeze
• Reduced vacation time
• No more sick days
• No raises
• No company 401k matching
• All travel & training expenses cut (unless authorized by senior management)
• Executive team pay cut
  

There's something to be said for working at a private, family-owned company. They went after everything they could to avoid layoffs. However, they did say that if things deteriorate and revenue continues to drop, the next step would be company-wide pay cuts.

They didn't mention anything after that, but one would have to conclude that if things got even worse than that, layoffs would be the final option. Let's hope it doesn't get to that.