Not going to wait until September 25th to hope and pray that I am not put on the chopping block. Seems very unhealthy and anxiety inducing to be constantly worried if I will be next.
I can't gamble my financial future on this.
7 replies (most recent on top)
Many people don't realize how bad it is RIGHT NOW. 93k tech jobs alone have been cut since January, I was shocked to find there are people living in a parking lot (lots of them) in the next town over to my nice suburban town, in a town that is also a nice suburban town. How this is being kept secret I do not know, I only found out because of a neighbor that is helping these people out. Living in cars is becoming more and more of a thing as the jobs the US used to have are being exported to countries with cheaper labor, if you can get out now, do it, it will be harder to find a new job once you are laid off.
Get out of the industry now. You can always re-enter later when things have stabilized (or not). I’ve seen this play out before over my career. Do attempt to avoid being permanently scarred.
In the 80s I was working for a major oil company in Houston. The 1980’s oil bust was brutal. Lay off after lay off for 5 straight years starting in 1982. At year 2 we couldn’t take the constant fear of being cut anymore and found employment outside of the industry and city (thankfully we did not own a home). It was heart-breaking for those who rode it out. Over 200K people lost their jobs; tent cities were common place; 1/8 of Houstonians were unemployed; over 1/2 of employees in oil companies were cut.
The recovery took more than a decade and left scars. Many lost a lifetime of savings. Many are still bitter.
The wife got caught up in the 2000 dot com bust. Another cycle of round after round of brutal cuts.
It all starts the same way: hype by the ‘smartest guys in the room’, irrational investments based on the hype, spin spin and more spin, people ignore facts, then some event occurs poof there goes the ‘free money’/investments and the whole charade crumbles.
Companies (like Ford currently) built on cheap money and risky business structures rarely survive.
What I did when I started working way back in the 80s was save at least half of my paycheck. I always had the money in the bank to pay off whatever debt I took on, even when I bought a house.
I NEVER trusted my employer. I heard too many horror stories, like employers firing whole departments of engineers on Christmas Eve.
Fu-k ford before they fu-k you
About f'in time. Good luck.
Saw this when Ford spun off Visteon.
Layoff after layoff after layoff.
Not sure if there is anything left of that company. I left after the second round of layoffs because I just couldn’t handle the stress.
Yup.. 3rd round already. 4th will come. Why wouldn't it. Jim F0ck never said anything about no more layoff. That b1tch is ignoring this round of layoff and saying things like how he is committed to the employees in LinkedIn posts.