i'm a welder. i make GOOD money. we build million dollar wineries. all 3 of us. been doing it for 10 years now. i took a 20% pay cut recently because "times are tough". when things pick up my boss will give it back, plus more. i know who i work for and i know what to expect. i knew from day 1. there are no surprises and i understand how the world turns. i have NO complaints.
There's a difference between being part of a 3 man welding crew and a member of an 18,000+ workforce.
Your boss has to look you in the eye and pass this news on to you. He makes decisions that influence you and has to live among that.
The executives in charge of this company sit atop an ivory tower and play poverty while they rake in billions of dollars in profits. Meanwhile, right at the time of the year when things get most expensive, they decide that thousands of people should fend for themselves. Stealing pensions and breaking promises all the way.
How is that fair? Why should employees' have to suffer a paycut while the bosses get a payraise? Was this a tactic your boss used too or did he do the responsible thing and bear some of the burden himself?
You knew from day 1? Well guess what? Management of that company had probably been saying from day 1 that they would honor pensions and do right by employees. Doesn't seem like these people had the luxury of such stability that you were afforded because they were hoodwinked by a bunch of crooks in nicesuits.