Effects of the Economy - Now Affecting Me :-s

[Soren]

Well...today was a fairly decent day up until I received a call from the Vice President and Director of my department. It appears that as head of my department, I need to cut 8 of my employees from my 23 manned (er womanned) staff.

This hurts big time particularly because with out efforts, we increased our clientele by an additional 1.5 million people now enrolled with Med D through the company I work for. The tremendous amount of growth was supposed to mean job security and an huge raise on my behalf. I've been given two weeks to make my decision. The thing that really burns me is that majority of my team consists of individuals who have a Masters degree, with a select few who either have, or are finishing up their doctorates. These women have families they have to support, run their households...and I don't know of any other company that pays as lucratively as Coventry.

I'm going to push for a salary cut on my behalf, I figured if I take a 16 percent hit...which if my math is right, minus my upcoming raise, I can keep 4 of them on....there are 4 I kind of want to get rid of anyway but...we won't get into that.

I honestly am really bothered by this because we worked really hard in becoming the "set the standard office," but this will just be devastating. I understand the company wants to cut finds...but with the CEO salaried at $920,000 a year....in addition to the 11.2 million dollars worth of bonuses, I'm absolutely enraged  that this is where they're starting the cutting, in the department that's outshining all of the others.

I've been racking my brain trying to come up with ideas in keeping at least 4 of the required 8 to cut loose...and I truly can't even think at this point. So....I'm reaching out to ya'll. What do I do? How do I go about this? I've fired 2 people before and those were legitimate reasons with good cause...

But I've never done this, or been put in this position. 

I think what makes it so difficult is that I hand picked everyone I wanted on my team, and each of them, minus 4 who have a few troubles here and there, are performing well beyond standards. Months and months of applications, interviews, and credentials...and this is where I'm at.

This sucks...big monkey testicles.