Home > The News From the Boss

The News From the Boss

November 14th, 2011 at 03:46 am

So, as we expected, it looks like DH's almost 11-year contract will end sometime shortly after the new year. They love him, want to keep him, but can't afford to keep him. Their budget has taken close to a $500K hit. He's indicated he'd work fewer hours happily enough, but his boss isn't sure there's money for that.

His contract with his agency specifies they pay him even if he's not working. But we're both relatively sure they'll dump him quickly if he's not. So he's already put the word out to former co-workers at other firms, to other parts of his current company etc. Later this week we'll revamp his resume. Emergency planning has begun.

Our US cash reserve is ok, almost to the 25K I wanted, but not quite. We should be able to get it there by his layoff. We've got more funds in the UK, but our goal is to live on my regular salary if we can. His unemployment and my second-job and freelance money will go to the emergency fund. All that would work, except there's those three months in the summer when I don't get paid. For those months, we'd rely on unemployment and my freelance and second-job money.

All in all, it's not that bad. We will hope his jobless state won't last long. We are again pleased that I am the insurance holder,and we have no worries or extra expenses there. We are both pretty frugal, and we will crank it down another notch, refiguring travel, entertainment, and Christmas expenses first.

I have some heavy work days ahead, so our budget meeting will have to wait until Thursday or so. Our freezer and pantry are full.

My dear mother always said when faced with bad news, celebrate the good. I bought a voucher (what a deal they are!) for a good Italian place and we went out for dinner and a movie last night. Have any of you seen "Margin Call"? I thought it was swell. Kevin Spacey and Stanley Tucci are spectacular. Jeremy Irons is as loathsome as he should be in that role. Going out was cheap and raised our spirits.

15 Responses to “The News From the Boss”

  1. pnwmom Says:

    Sending hugs and prayers!

  2. baselle Says:

    best of luck - it reads like you've planned, got wind of the issue early, and are not freaking out.

  3. CB in the City Says:

    I'm so sorry about the bad news, but admire how you are taking it. It sounds like you are well-prepared.

    On a side note, how could Jeremy Irons ever be loathsome? Smile I adore him!

  4. PauletteGoddard Says:

    Sorry to read. I've been in your hubby's place--my heart is still beating. But you have a plan and it's in action.
    I like

  5. LuckyRobin Says:

    I hope he finds something else soon. You guys are a good example of why an emergency fund is so important. It will be your backup and your peace of mind while he looks for something new. It is why I am working so hard to build our emergency fund. I remember what it felt like being in the same place 14 months ago and NOT having an EF in place. We were fine, but it could have been a disaster.

  6. My English Castle Says:

    I wish I could say I'm not freaking out. My placid Scandinavian self seems unflappable. But I think beneath that seeming calm is some nascent anxiety. Today I could not locate these idiotic Mattel vouchers from a class-action suit. I've been looking for them for days, but I don't really need them. Yet I was almost hyperventilating about them. Thankfully DH found them in the drawer I'd emptied three times. But my reaction was WAY out of whack for what they were.

  7. littlegopher Says:

    Sorry your family is going through this. Your plan and attitude are wonderful, and I hope he is able to find another job soon! Best wishes to you!!

  8. patientsaver Says:

    I'm sorry to hear about the hub's work situation. It's not ideal, but you'll get through it. Having a full pantry is always very comforting.

  9. LuckyRobin Says:

    Yeah, I was freaking out, too. Plus it felt like my stomach was always in knots with a low level of nausea for weeks. Never want to feel that again. Hope it settles down for you.

  10. laura Says:

    I'm sorry about DH's job situation, but I'm happy that you have a plan in place.

    I think that it was good to have a frugal outing to celebrate the good! Love that idea of your mom's. Smile
    (hugs) and a prayer for secure employment for husband.

  11. Looking Forward Says:

    So sorry. Is it for sure? Might there be a slight chance they'll be able to "keep" your DH?
    Keep your chins up, this might end up leading to something better! Smile

  12. frugaltexan75 Says:

    I'm so sorry to hear this. Frown I hope something turns up quickly.

  13. My English Castle Says:

    Thanks for all your good wishes! Thursday is our designated day to work out the budget and revamp his resume. I don't think it's definite yet, but I'd say it's 90 percent certain. DH is meeting tomorrow with his contract agency, and for some strange reason, my evening class didn't seem quite so awful last night. :-)

  14. Ima saver Says:

    So sorry to hear the news. I hope he finds a job quickly.

  15. MonkeyMama Says:

    I am sorry to hear, too. Seems like it has been an extra rough time for your hubby.

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
Will not be published.

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]