When profits are low at the Krusty Krab, Mr. Krabs decides to start deducting his employee's pay for doing ridiculous things including talking, chewing, breathing, lollygagging, and even existing. Squidward finds this to be outrageously unfair, and he and SpongeBob go on strike. SpongeBob, initially not knowing what it means to go on strike, is devastated when he is fired. Squidward, however, assures him that he will have his job back "and more".
Squidward demonstrates by making a sign saying "Krusty Krab Unfair", but SpongeBob misinterprets it as "Krusty Krab Funfair", making the restaurant more popular. After Squidward attempts to give a speech to the people of Bikini Bottom, with unfortunate results, Mr. Krabs taunts them about how "successful" their strike has been. SpongeBob suddenly turns against Krabs, standing up for Squidward and telling him that they will stay on strike forever until their demands are met which causes the word "forever" to echo in Squidward's mind. That night, Squidward is horrified at the thought of being on strike with SpongeBob forever, and goes to beg Mr. Krabs for his job back. As Squidward runs out the door, he sees Mr. Krabs at his door, who begs him and SpongeBob to return, saying that he can't stand the teenagers he hired as replacements and that he is nothing without them. As they walk to the Krusty Krab together, Squidward discusses the terms of their return to Mr. Krabs.
Meanwhile, however, SpongeBob dismantled the Krusty Krab during the night, taking the words of Squidward's speech literally. As Squidward and Mr. Krabs walk to work, they continue their discussion and come to an agreement. As Mr. Krabs walks into work (with his eyes shut), it shows that the Krusty Krab is completely destroyed. SpongeBob, thinking he did good and with get their jobs back, shows Squidward, who is trembling with fear. When Mr. Krabs sees his restaurant completely destroyed, he literally falls to pieces and says that in order to pay for the damages, they will work for him forever. SpongeBob jumps for joy while Squidward is in shock.
One eternity later, it shows that they are nothing but skeletons, still working at the Krusty Krab.
In real life, you would not get fired if you went on strike because it's illegal to hire new workers if your other employees are on strike.
Mr. Krabs is making his employees pay for breathing, yet in the episode "Pressure," when Sandy thinks land creatures are better than sea creatures, he says it's free. However, he may have started charging his customers and employees for that at some point between "Pressure" and this episode.
SpongeBob has said he loved the Krusty Krab many times so it is unknown how he destroyed it without showing regret.
Whenever there is a crowd going to the Krusty Krab, they run over Squidward.
Every time Squidward hears the word 'Forever' from SpongeBob, he is in shock, and the word echoes in his head.
The running gag, when the term "forever", was in Squidward's mind was a youtube meme.
Squidward and Mr. Krabs are in their day clothes when they enter the destroyed Krusty Krab, but when they left Squidward's house, they were wearing their pajamas.
During the part where Squidward imagines himself as an old man, when it begins his sign reads "Krusty Still Unfair", but when Spongebob starts orbiting around Squidward, it reads "Krabs Still Unfair".
In part of the episode it shows Squidward and SpongeBob really old on strike. Yet at that age, Mr. Krabs would most likely be dead.
SpongeBob and Squidward are invertebrates, and therefore would have no skeletons to rot away to.
In the episode "Nature Pants," "Patty Hype," and "As Seen on TV," SpongeBob willingly quits his job and throws his hat down. However, in this episode, he says that the hat is his "friend" and cannot bear to discard it.
When Squidward said "and more", SpongeBob only had one tooth for that scene.
In the scene where SpongeBob and Squidward were outside the Krusty Krab after getting fired, they were still wearing their work hats.
When SpongeBob runs to the Krusty Krab to "dismantle the establishment", the sky looks like dawn is breaking. When he goes inside, it looks like nighttime again.