Difficult times for a lot of folks, that's for sure. Expect to hear/read more posts like this over the next several months, as well.
We have been fortunate and avoided laying any personnel off to date. Luckily, we operate very lean so we can absorb some slower times and keep everyone working. When it gets really busy we bring in hired labor for job specific durations.
Even though we have been pretty much "recession proof" in the past, we are starting to see a definite slowdown in current and future projects (we are an environmental/hazardous waste construction company). We just froze wages for 2009 and increased insurance contributions from all employees. All 401K matches for 2009 have been suspended, as well.
Best of luck to those who have lost their income .....
We have been fortunate and avoided laying any personnel off to date. Luckily, we operate very lean so we can absorb some slower times and keep everyone working. When it gets really busy we bring in hired labor for job specific durations.
Even though we have been pretty much "recession proof" in the past, we are starting to see a definite slowdown in current and future projects (we are an environmental/hazardous waste construction company). We just froze wages for 2009 and increased insurance contributions from all employees. All 401K matches for 2009 have been suspended, as well.
Best of luck to those who have lost their income .....