How much has the coronavirus cost you so far?

Discussion in 'Current Affairs' started by willrocks, Apr 1, 2020.

  1. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    As a telecommunication provider with 8000 employees we ourself will see many people lose their jobs. Many projects are on hold... marketing team is getting decimated ie sponsorship, events and pop ups teams, where as we re-deployed a few with SEO experience. There are also hundreds of contract programmers who won't get their rolling contracts renewed.

    That's just a fact, even though connectivity is one of the last thing people will cancel... we will see many many tens of thousands or even hundreds of thousands of retail customers claim hardship plus thousands of corporate and enterprise customers needing to downgrade.

    flip side is I can see which companies are are needing BIG urgent upgrades (ie likely more demand for their services) and if they are public company, I am looking at their shares to buy.

    Times are going to hard for medium term and panic hasn't set in. I've worked at this company since AFC and I've not seen anything like this.....
     
    Last edited: Apr 2, 2020
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  2. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    How much has the coronavirus cost you so far?

    A bit of additional elbow grease.
    I've been growing more food.











     
  3. GF

    GF Active Member Silver Stacker

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    [QUOTE="Actually, I'm kinda serious, this could be a legit thing. Lets say you have your own Pty company and it's prudent to save cash at this time so the business can survive longer, so you cut your own personal wages (I've actually done this before when cashflow was tight). Surely that's legitimate?t:[/QUOTE]

    as a Director make sure you are also an employee and then register your business.
     
  4. RichB

    RichB New Member

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    Oh the system..Its there to be rorted...The criminals in Canberra lead the way on that one.
     
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  5. RichB

    RichB New Member

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    How much has coronavirus cost you so far????
    I wouldn't worry about the so far,,,its what will come later and that will be your freedom..
     
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  6. silverhair

    silverhair Well-Known Member

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    The immediate fall out i am seeing is major projects being deferred and 80% of customers not paying on time.

    Over 50% of our project pipeline for yhe next 6 monthe has been axed
     
  7. sterling-nz

    sterling-nz Well-Known Member

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    Not currently a landlord but i can it costing many an arm and a leg because of some of the comments i read here in NZ.
    Comments like "they should publish the names of people that take mortgage holidays so if they are land lords tenants do not have to pay rent so LL are not double dipping"

    OR " if my landlord does not have to pay their mortgage then why should we still be forced to pay rent,so unfair".
    These people just have no clue because not only do the landlords still have to back back all the money they do not spend during their "holiday" they do it with interest.
    Mortgage holiday is really a very poor description of deferred full interest payments.
    People in NZ are so dumb they think it is just a free run of no payments or penalties.
     
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  8. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    You're playing a part in process even if you don't apply for and receive welfare.

    However, if my car is stolen and I get an insurance payout as a means of compensation, it doesn't mean I support the notion of stealing.
     
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  9. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    Just thoughts regarding money packages from the government.
    *The estimated black market who don't pay tax is.............
    *The estimated number of large international companies who don't pay their tax obligation are..............
    *The number of estimated small businesses who have taken cash in the hand and not paid the full tax obligation is estimated..............
    *The number of people who don't pay capital gains tax on metal sales is estimated to be............
    *The tax income tax rates are well known.
    *Nearly everyone pays GST
    *We are over licenced, registered, health insurance levied and more.

    Perhaps, just perhaps there are a few people living in glass houses. :eek::D

    Perhaps people who pay income tax are not getting a hand-out, perhaps they are getting some of 'their" tax dollars back. ;)
     
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  10. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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  11. sterling-nz

    sterling-nz Well-Known Member

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    Same as usual the worker gets kicked in the gut.
    This article goes onto explain how Fletchers expects employees to take a 70%,yes, SEVENTY PERCENT paycut while the big boys running the show will take just a 15% paycut.
    Losing 70% of your normal ?????$80,000 a year job is a big kick in the guts when the people at the top on $2,500,000 a year are only losing 15%.
    And the icing on the cake is the employees have 24 hours to accept this offer and if no reply is received that is considered to be ACCEPTANCE of terms.
    Fletchers has had so much NZ government money over the years it is mind boggling.

    https://www.stuff.co.nz/business/12...eel-pressured-by-short-consultation-timeframe
     
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  12. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Cost me nothing so far - I am in food manufacturing, and my better half is in Emergency Medical Sector, so both sides blazing away at full-steam.

    However, been thinking about this loophole : $5000 income tax loophole created by the pandemic

    I don't specifically qualify as you need to have had your income cut due to COVID by 20%.
    So, thinking of applying for 1 day a week LWOP for a couple of weeks to make myself eligible.
     
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  13. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    Well that's employee loyalty down to zero. Fletchers employees may sadly have no option other to accept at this time, but when times are better (hopefully / maybe), they'll remember this day and the actions of mgmt and will walk away when someone offers them a decent job.
     
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  14. silverhair

    silverhair Well-Known Member

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    Geez I feel terrible about a 20% cut to my team. I am heard another customer cut their teams by 50% today !

    70% is completely unreasonable and our useless bloody politicians should take a 40% cut to join the working class for a fucking change.

    On a more positive note the Australian ATO has frozen payments on all debt payment plans and canceled out interest as well until this time next year. All a company needs to do is called them and ask and they will do it for you.
     
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  15. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Wow! Never did I expect this to happen with the Government's current JobKeeper cash-splash.
    It took me a week to figure out why they were doing what they were doing, but in the end I give them kudos for making a mockery out of the socialist system.
    Here is my attempt at a clear and concise explanation, which I will turn into a quiz for the financial detectives out there:

    In my area there are 5 fast-food chain McRestaurants in a 25km radius of my home that are all owned by the same franchisee - 3 of these restaurants service separate towns (one in our local town), while the other two are located at nearby north and south-bound service centres on the M1 freeway.
    3 of my house-hold members work at these restaurants:

    One is a 15-year old who happened to score a permanent part-time contract with a personal fixed weekly roster to work after school and on week-ends. He is one of the few lucky ones in his age-group of employees at this place, as most of his peers are employed on a casual basis. He works in the restaurant in our town, and has been employed there for 11 months.
    One is an 18-year old Uni student who just finished school last year. When she finished school, she nabbed a casual job at the M1 north-bound restaurant. Even though she is more expensive to employ (due to her age and coincident hourly rate + casual loading) than the more desirable younger kids, the freeway location is more remote so needs staff that can drive themselves there. Also, she gets a lot of work during school hours when the younger kids aren't available.
    The last one is a 20-year old student who started working on a casual basis in the town restaurant when he was just 14, and stayed all the way through school. It was and still is not his only casual job. When he finished high school, they transferred him to the north-bound freeway outlet because he was able to cover night-shifts in the 24hr restaurant. He earns a fairly good hourly-rate due to his age and casual loading, but again he can drive himself and cover over-night hours that the younger school kids can't cover. In a good week he can earn between $500-$600, which is pretty good for a student.

    When the COVID shit hit the fan, all 5 mentioned McRestaurants had to close their dining rooms, and serve only drive-through and take-away. Coupled with the fact that people are staying away simply because of social-distancing and current self-isolation rules, revenue at all 5 restaurants has dropped by more than 50%. In response to this drop in revenue and relevant government support announcements, the group of restaurants immediately ceased giving any hours to the youngest, cheapest casual employees, except those employed on a permanent part-time basis who maintained their contracted hours. The 18-year old household member, a casual who started at the beginning of this year, also ceased getting any shifts to work. The 20-year old, along with many other 18+ year olds who had been there for a while, were redeployed to work across all the 5 restaurants. The redeployment coverage of the older employees has seen their casual hours increase, sometimes by a substantial amount.

    QUESTION: Why did one of the most tight-ass employers in the country choose this strategy with their employees?
     
    Last edited: Apr 6, 2020
  16. JulieW

    JulieW Well-Known Member Silver Stacker

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    Directions from on high, or a franchisee with a heart?
     
  17. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Because the under 18s aren't eligible for jobkeeper subsidy which essentially covers the wages of the redeployed over 18s. Free labour anyone?
     
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  18. GF

    GF Active Member Silver Stacker

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    Yeah, over 18's are good for the handout and they still need to work to receive it. It will be put in place to save the businesses not the staff..
     
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  19. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    [​IMG]
     
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  20. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Both nearly correct.
    One more criteria is a casual has to have been employed by the employee for 12 months or more to be eligible for the JobKeeper subsidy.
    So, essentially, the company is eligible to claim the JobKeeper for each eligible employee due to lost revenue. However, they have shed the cheapest 75% of their staff, and are making a profit by keeping the eligible, more expensive employees, as most of them don't earn $1500 a f/nite anyway. Had they shed the more expensive labour they would have had to pass-on the subsidy, which would have been financially detrimental.
    That it the joke of such a socialist system.
     

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