Home > Changes and putting things on hold

Changes and putting things on hold

June 10th, 2014 at 04:27 am

Mortgage payment went through earlier last week. It was $1218, $232.58 for interest and $985.42 for the principal. I still can't put any extra into it this month.

DH's job is still really iffy at the moment. Everyone that is in his team is waiting to see if they will still have a job. They already know that their contracts will not be renewed. They are getting rid of contract workers, so they are proposing to offer people a fixed 1 year full time job. Some people's contract is finishing the end of this month but they still haven't found out what the new rate for this fixed full time deal will be. It will be for sure lower than what they get now. And the worse thing about this deal is they will not get a redundancy pay out at the end of the term, so it will be worst than a full time job rate. The money has to be slightly higher than full time rate for it to be worth considering. It is doubtful that it will be. DH's boss, who is in the same boat as DH and who's contract is finishing the end of the month, has been going back and forth negotiating with the his new boss (who is implementing all these changes) for 3 months now. He doesn't really care if people are going to stay or go.

They are looking at replacing the current system that everyone is working on, so the new management doesn't care too much for the contract workers, they have been treated like they are not part of the company now. Their problem though is they haven't really found a new system (that will be off the shelf) to replace the current system, this system by the way deals with 2 billion dollar payments so it's not child play but these new bosses doesn't seems to get it. Fair dinkum, one thinks that there should be no different if you were dealing with 2 million. lol
So, basically they still need all the people that is left (which is now less than half to what it used to be 2 years ago). DH who is the team leader has been covering a lot of the work that those people that have left used to do. Not only he has to do his job but he now has to do the Business Analyst job, data management and even do a bit of testing work and also if there are any questions/problems from the customer he has to deal with it.

DH's contract doesn't end until end of Sept but he will get the same deal as the people that end this month. Although there could be a chance that the company will just push forward everyone else's contract to end this month and offer this new rate to everyone at the same date. Either way DH will be moving on sooner or later. There is obviously no future for him or the other employees in this company, they are not offering anyone at all to work on the eventual new system. At the moment, DH will consider staying if the rate is at least reasonable until he will get a new job, if it is too low, he will most likely just quit and spend more of his time looking for a new job instead.

We have been through this before so we are not panicking. DH quit his previous job without any lined up but was hired right away in this current job. And he has been through long term unemployment before, we survived that we will survive this too. At least this time we are prepared. This is why I'm always putting paying the mortgage off and savings first in our goals every year. All that hard work is for this time. Don't get me wrong, it would have been great if this were to happen next year when the mortgage is paid off. So for now that extra payment to the mortgage is at halt but I'm very determine to still pay it off by October next year (DH's 40th).

Oh, this weekend was a long-weekend for us (Queen's birthday), DH spent most of Saturday applying for jobs. And he is also studying to get some certificate that he believes he needs to apply for more jobs.

5 Responses to “Changes and putting things on hold”

  1. My English Castle Says:

    Wishing you all the best with the job situation. Sounds like you're prepared, not matter what comes.

  2. Shiela Says:

    Thanks MEC. We knew DH's contract may eventually not get renewed, he's in a industry that job security is not very good so we always kept that in mind to help us motivate to save.

    Actually DH just got home couple hours ago and he told me that he might find out more details tomorrow about it. He also got to talk to his boss (the one that has been negotiating with upper management on behalf of everyone) today and it sounds like it might not be as bad for DH, but it seems like DH's boss will have to take a bit of pay cut. We have our fingers crossed that it is at least reasonable offer.

  3. Joan.of.the.Arch Says:

    "All that hard work is for this time." Yes. All the thriftiness, planning, and saving you've done in the past will be your security and peace of mind now.

  4. creditcardfree Says:

    Wishing you both the best outcome with the job.

  5. CB in the City Says:

    Fingers crossed for you!

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