I’ve seen a lot of threads about how companies have screwed their employees, especially during the current crisis. Here’s a thread about companies doing right by their employees.
I don’t want to go into too many identifying details, but I work for a major diagnostic lab company. COVID-19 testing volume, of course, has gone through the roof. But overall testing volume went down enormously. People were deferring, delaying, or canceling routine and elective procedures left and right. My company’s overall testing volume was down 40% in March.
In response, they furloughed a lot of workers, cut back the hours of most hourly workers, and imposed pay cuts on salaried workers. They also suspended 401k matching contributions for all employees.
The furlough terms were pretty good, though. Furloughed employees kept their health benefits, with the company paying both the employer’s and the employee’s share of the premiums, for the duration of the furlough. Furloughed employees continued to accrue Paid Time Off as if they were working their previously schedule (they couldn’t use the PTO while on furlough, of course). Furloughed employees also retained their seniority, and while the company wouldn’t guarantee that they would eventually be hired back, they did guarantee that if they did, it would be in their previous position or a near equivalent, with no reduction in pay.
I personally had my hours cut by 2.5 hours a week. Others had deeper cuts.
But, our testing volumes are going back up. Locally, they were probably down by even more than the company’s overall volumes - I’d guestimate they were down at least 50%, maybe 60% a couple of weeks ago. But they’ve been dramatically increasing last week, and more and more practices are going back to normal schedules. We’re probably at 80% of our pre-crisis volumes locally, and growing every day.
I was informed this week that I’m back to a full 40 hours per week next week. Many furloughed workers will be coming back next week as well.
And my company has just announced that all “front-line” personnel - basically all hourly workers and low-level salaried workers - over 20,000 total - will be getting a $500 bonus next month.
So, at least some companies are doing right by their employees.