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My position with the company was cut last week. Even though they deny it's the reason... I was salary, and starting 12/1/2016 federal law will require companies to pay salary a minimum of over $10,000 more a year than I was making or pay overtime for hours worked over 40. My company responded to this by removing the position I was in which affected 700 managers company wide. I'm now hourly making $5000 less a year because I'm only working 40 hours a week. Just goes to prove you can't force companies to pay people more money. Now each store runs on one less manager and the burden of my workload falls on them. On the bright side I have more time to myself and I'll be gaming on more regular hours instead of insane late night.
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I know just about every company is waiting and hoping that congress will somehow magically stop it, but from what I've read, they don't have the votes to do it. So everyone is going to wait til the end of next month to say "Merry Christmas, you got fucked".
One of my co-workers husband is salary because he works for a pool repair company... obviously salary helps him in the winter time when no one is swimming and they have a lot less work to perform. Going hourly would be devastating.
Holy crap that sucks. x_x More free time is always nice tho.
Wal-mart actually increased all salary employee's wages months ago in anticipation of the raise. I know someone thats already got a huge raise. But I think the company will be taking that extra money out of new employees and less salary staff overall. I bet initial raises will be crap for years to compensate for the new pay structure. I don't know who all is salary at my company and I haven't heard anything about how it'll affect those people.
Heh, raises are already shitty at Wal-Mart so they can't get any worse (you're lucky if you get a 40 cent raise every year and before I quit they changed it to percentage based based on your yearly performance which lowered it significantly).
In his case that would completely suck, going hourly would be beyond devastating.