Furloughs Increase as Companies Cut Costs

Monday, July 27, 2009

Taking an extended vacation sounds like a dream, except when time off is involuntary and unpaid. To cut costs, more employers are implementing mandatory leaves from work, commonly known as furloughs. For a look at what this growing trend says about the workforce—and for some tips on how to navigate your own unpaid leave—The Takeaway is joined by Beth Kobliner, a personal finance expert and author of The New York Times best-seller, “Get a Financial Life.” We also talk to Jason Ramirez, who was recently furloughed from working in web design and video production in Los Angeles, and Tim Kirkwood, a flight attendant and author of "The Flight Attendant Job Finder & Career Guide" and partner in AviaNation.com. He’s been on full-time furlough since April 1, 2009.

"Even though it has this nice sound—"furlough"—it's a pay cut and you're getting less money and you have to adjust your spending."
—Beth Kobliner on furloughs

Guests:

Tim Kirkwod, Beth Kobliner and Jason Ramierz

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