I’ve said it a time or two, but the CEO here at UIHC / UISFCH, is amazing. He’s great with sharing info regarding COVID, and racial injustices, and financial impacts of COVID. He’s hosted weekly webcasts, monthly town halls that happen over a variety of times for all to watch.
About a month ago he explained the financial ramifications of COVID, and let us know that he would do all he could do to not have layoffs, but it would very likely result in paycuts. In this time of hearing it, I’ve reevaluated some of my expenses, and spending as a whole. I could shop at Aldi a bit more than I do, for more things than I normally buy from there – it’ll just take a little extra planning. But I’m a planner girl, so that shouldn’t be a problem. My concert budget is pretty much non-existent right now. I’ve not been going many places so paying for gas is down significantly.
I’ve been a bit more mindful of what I am buying, in general.
Today, was the first of a few financial town halls with the CEO; and my friends, it’ was great news! Because I make more than $50k, I’m in the second bracket, but I will still get a 2.1% raise – to keep with the trends, it’s not as much as I might usually get. I will have to either take 2 weeks of unpaid days off, or give back 100 hours of vacation within the next fiscal year [which runs 7/1/20 – 6/30/21]. It cannot be a mix of both, nor does it have to be all at once. The only stipulation for the unpaid days off, is that I have to use half withing the first half of the fiscal year.
My first thought, is that I’ll do one day off / month, and then double up and take two in the fall. I picked the fall [thinking October and November] because generally I make more with Scentsy in that time frame, so I can supplement the lost wages. One or two unpaid days off per month will be much less of a blow on the paycheck than using 5 for a week off.
When I first started in May 2008; we had to do something like this for that next fiscal year, but we only had to do 3 days vs 10. It will be okay. I figured it out to be something like $215 / day. In the grand scheme of things, I doubt I’ll see that much of a notice on my paycheck.
I feel like I can breathe a sigh of relief! This is going to be very manageable!
*Correction, updated 6/25 – I only have to take one week off due to my being a Merit Employee!