YEP....my husband’s company has been laying off.....froze wages (for EVERYONE) and quit contributing to the 401K....looking forward to the upcoming August announcement....probably a cut in pay....and less benefits....PI** on Obama and his administration....and on all Democrats for that matter!
If your company starts cutting wages and stopping 401k contributions, get your savings and contingency plans in order.
Once they cut wages, etc, layoffs are just around the corner. A couple weeks after the company I worked at cut pay, they began to offer buyouts. Then came rumors of unpaid furloughs, shortly after, they cut half the staff and put another quarter of the staff on 1/2 time.
Things are really bad right now. I’ve got enough savings to last a couple years, assuming we don’t get hyperinflation.