Wages & adjustments...

My where does the time go?? I didn't realize I hadn't made an entry since the first of the year! Maybe I just don't have much to say...or I have to much to say that I can't even piece it together for an entry.

Work is still very slow business-wise. We went through another round of lay offs the second week of January, another 40 positions. Some of the part time massage therapists were asked to give up their health insurance. Many part timers were cut completely. Those of us that remain are working hard to ensure guest services are impacted as little as possible. From what I understand, house counts are picking up, but it will take us a while to make up what we've lost. Today, another round of communication was scheduled. When they say that, you know it can't be good. The admins from Executive were called into the conference room for a meeting about 3:30 pm. Basically, there will be wage adjustments, anywhere from 2% to 12%...the higher you are on the wage scale, the bigger your cut. Paid time off will also be slashed. Since I've been there for 2 years, I am losing 1 day per year. People who are 20+ years tenured will loose 3 days. The good thing is I still have a job!! Truly, I am so thankful! Back in September, when the whole banking/investment fiasco began or came to light, our Executive team put together a contingency plan in case the industry failed to make a quick rebound. It didn't, so we implemented what was to begin a major overhaul of our business model. Started with layoffs, operational and capital expenses were put on hold. This wage adjustment is the last piece to put in place so that we can ride it out. Of course, there isn't a crystal ball that will tell whether the worst is over, but at least they have thought ahead. Our health insurance plan remains intact, and though the employer match contribution in our 401K has been eliminated, at least it is still offered. After 9/11, they made a 20% across the board cut in wages, so this isn't that bad.

There was a job fair at the convention center yesterday...66 employers had representatives on hand taking resumes for open positions, and recruiters doing on-the-spot interviews. Six thousand people passed through the job fair!! They were expecting 3,000. There is another job expo planned for next month. February and March are our big months for tourists, Tucson Gem & Mineral Show, Accenture Golf Match Play, rodeo, etc., and the hotels are reporting record lows in occupancy. Another sign of the times.

Sorry to be all gloom and doom, but it is what it is (as Phil would say)...talk soon...