Reading this forum and seeing conflicting November layoffs dates! Unless you have specific and reliable information on layoffs please don’t post about layoffs dates. Are you a manager with a list of employees to lay off this week or next week? It’s not a game because layoffs are not easy on impacted employees and constantly posting conflicting dates can cause anxiety or false sense of security, if folks think they survived a false layoff date.
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@pnk, emergency funds are a waste and leaving assets sitting in a bank account losing money will cut into your net worth.
The better thing to do is have credit and manage your debt so you can have adequate cash flow if changing jobs or dealing with emergencies.
On top of that, you can easily plan what most people call unexpected emergencies. You should know the age and condition of your roof, water heater, hvac, car, tires, brakes batteries, etc, etc and budget to keep them going.
@pnk+1plKrJLT; I have saved 5 months of living expensive, so I cut back the expensive coffees and dining out should bring me up to the 6 months of living expenses. I agree with you the minimum 6 months emergency fund.
At the risk of stating the obvious, this advice is way too little way too late. You generally need a minimum of six months income in the bank as an emergency fund. Now is the time to prioritize an emergency fund. Emergencies are not if, but when.
Less expensive coffee and less dining out is is ludicrous advice if you do not maintain an emergency fund. This is my advice from my past layoff experience.
For 40 years we’ve self funded an emergency fund and it’s amazing how often we’ve had to use it for layoffs, unanticipated family disasters, huge medical bills with our cr-p BNYM medical plan etc.
We’ve learned that emergencies are not unexpected but normal.
There is no perfect way of choosing displacements, but forced rankings actually are the least bad approach. In general we do wind up keeping the bulk of the good workers.
Nobody here really knows upcoming layoff information. The vast majority of those “in the know” on this board and those with imaginary “HR friends” are routinely totally wrong. For r the OP to request accurate information even as lights a fire is disingenuous.
This is a truly sad hobby you have. We have actually been in a low layoff environment for 3 1/2 years. Focus on your job and you’ll be fine. It’s just not that hard.
Impacted manager confirming yes dates are 6-8 next week
Nov is layoff month, save some money, cut your personal expense for few weeks. Less expensive coffee, less dinning out, postpone buying a new car. Save money for job searching days. This is my advice from my past layoff experience.
Yes, thank you so much for sharing this @fyv+1plKrJLT. I’ve been on edge about this for weeks, and your reply answered all the questions I had.
Also, Interesting note about vacation. I always figured they’d tell you before you went OOO.
Thanks to @fyv+1plKrJLT. This sounds credible. Thanks to any managers who discreetly share this intel. It helps people prepare emotionally.
Yes, I’m a manager with seven people to layoff November 6th to 8th. Backup date 20th if the person is on vacation. We have known since late August/early September of the number and we had to submit the names of the people to lay off. Managers pick who to lay off it’s not random.