The Lubbock Chamber of Commerce held a conference today to remind employers about changes to Federal Standards Act regarding over-time regulations. In 45 days, on December 1 any employees making less than $47,476 will be paid time and a half if they work more than 40 hours a week. The Lubbock Chamber of Commerce CEO, Eddie Mcbride said they are one of 50 other plaintiff’s in a lawsuit versus the labor department fighting on behalf of employers.
“All that we are trying to do is make people aware of December 1 and let them know we are fighting for them and trying to stall it,” said Mcbride. “Even though we are optimistic that something will happen chances are there’s nothing that is going to stop this.”
CEO of Northwest Texas Industries, Robin Raney spoke at the conference about the hardships the non-profit will face when the regulations come into effect. She said they don’t have the financial support to pay their employee’s more than double the salary threshold.
“Some industries simply don’t have the profit margin to support that and non-profits are a great example of that,” said Raney. “We don’t operate on a profit margin, our goal is to break even at the end of the year.”
Although employers are concerned, CEO, Martin Aguirre with the South Plains Workforce Solutions said this rule could potentially help families that are struggling in poverty and help to get them off social programs.
“Anyone who has tried to live off of $25,000 with a family, it’s almost impossible,” said Aguirre. “On the surface it’s a good thing for employees but it depends on a few other things in the economy.”