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Laid off?

Discussion in 'The OT' started by wilbur_the_goose, Feb 2, 2009.

  1. Mar 4, 2009 #41 of 339
    jclewter79

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    My job was looking a little sketchy but, some new jobs came up so, looks good for everybody at our company at least though the end of the summer. As for my wife, she just took a job that will double our yearly income so that helps us feel a little safer no matter what happens.
     
  2. Mar 5, 2009 #42 of 339
    James Long

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    My job has had some interesting twists over the past couple of years so I decided to start tucking away a little bit just in case. My "emergency fund" isn't where it needs to be but it should get me by for a while (but not long).

    A couple of weeks ago the entire staff took a 5% pay cut ... better than losing 100% but not good. Unemployment in my area is 16% so it isn't like one just walks out the door and finds the next decent paying job. Oddly enough the boss still wants 110% work. :)

    I waste a lot of money ... I'm wasting less now.
     
  3. Mar 5, 2009 #43 of 339
    4HiMarks

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    Although I have known for some time that our contract runs out Tuesday, I just found out moments ago that it is being renewed at a ridiculously low funding level. No one's job is at risk currently, but when this money runs out in a couple of months, who knows.

    My GF and I have put off wedding plans for the moment, and we are not planning any expensive vacations this year. We're also putting off kitchen remodeling for at least another year. I also refinanced my house to lock in what equity I have left and pull some cash out to maximize our liquidity. We'd be fine if one of us lost their job, and could probably get through a few months, at least, with both out of work, but once Unemployment rean out, we'd need something more. We've trying to cut back, but it has been more a case of what could we do without if necessary - switching to pre-paid cell phones and dropping Dish would save us $200 a month right there. COBRA would be the big expense.
     
  4. Mar 5, 2009 #44 of 339
    cmtar

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    Thankfully I do not have to worry about getting laid off. Me and my wife both work at the same place and the company is doing very well. And they do not do lay offs here and are actually hiring as we speak. The duck is doing very well.
     
  5. Mar 6, 2009 #45 of 339
    phrelin

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    It appears that the statistical news is not good according to an AP analysis on Yahoo this morning:
    :eek2:

    It appears that the following is definitely true in our economy:

    "If misery loves company, misery has company enough." - Henry David Thoreau
     
  6. Mar 6, 2009 #46 of 339
    rudeney

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    Those stats are important to know, but they are always considered (or rather always not[/] considered) in the quoted unemployment rates. In other words, back when unemployment was at record lows of 3%-4%, it still didn't factor in these "uncounted unemployed". Adding that it usually makes the actual rate 75-100% higher than the statistically calculated rate.

    Of course that does make it any better for those folks who are part of that statistic! :(
     
  7. Mar 6, 2009 #47 of 339
    James Long

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    We've got 18.3% unemployment by the traditional counting method in my county.
    I'd hate to see the real number counting the discouraged and underemployed. :eek:
     
  8. Mar 6, 2009 #48 of 339
    CJTE

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    Ive been threatened to be laid off quite a few times over these last few months. For a few (3 or 4) weeks every friday was the day I expected to get 2 checks. So far, Ive squeaked by.

    Hot Dog! What a lucky little girl!! I opened my first savings account about 8 years ago, buried it into my old truck, restarted it, and am up to about half of what you borrowed...

    Personally, i'm not a big union fan. (Hey, what can I say... I grew up as the employer, not the employee). However, they do try to CYA. (which is good).
    The reason i'm quoting you is to say to keep an eye out. We have similar contract negotiations, rather then laying employees off, hours have been slashed.
     
  9. Mar 6, 2009 #49 of 339
    James Long

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    Being union is no protection when a company can't pay their employees. If the choice is renegotiate or shut down does "shut down" help any employee? It is unfortunate but we're at a point where the time to next job is longer than the severance/unemployment gap.

    Underemployment can be better than unemployment.
     
  10. Mar 7, 2009 #50 of 339
    phrelin

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    Yeah, I didn't want to burst the guy's bubble, but the United Auto Workers had layoff contract provisions at one time. If the employer has no money the workers don't get paid, contract or not.
     
  11. Mar 8, 2009 #51 of 339
    wilbur_the_goose

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    Same with severance. My kid brother worked for 2 companies with good severance packages. Never received a dime because they went bankrupt.
     
  12. Mar 8, 2009 #52 of 339
    phrelin

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    It's a different ballgame from anything in the past. One our "kids" (of the three of five kids and significant others unemployed or underemployed) was laid off in 2007 and given a severance package, but in 2008 the company hired him back through a temp agency and kept him on as long as California labor law allows. This second time, no severance, of course.

    An AP article today had in it's depths a good analysis of why this isn't 1981-82 and why I'm worried about the "kids" situation (and maybe my own since they're talking about the FDIC running out of money):
     
  13. Mar 9, 2009 #53 of 339
    Richard King

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    I have a small apartment attached to my house that I rent out. I have lived here for 12 years and in that time the apartment has been empty a total of 6 months. My renter moved out on March 1st and I have had no success in procuring another renter, so, I guess I have been partially unemployed. In my commercial building I am currently at 1/3 occupied (4 spaces out of 12). Advertising is a total waste of time and money as the phone doesn't ring. A 3 year lease expires on the 15th of this month. While the renter hasn't turned in his notice, I suspect he will be gone, so I am going to be further partially unemployed. It's not only guys who work for others who are getting killed in this mess. I have a very strong chance of going down to 2 units occupied in about 3 months. Then, about 6 months later will probably go to zero. Self employed people have no unemployment compensation and no severance pay to be negotiated.
     
  14. Mar 22, 2009 #54 of 339
    Phil T

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    Update to my situation. They came to me Thursday to discuss my "options" for next year. The only option they gave me is a 6 month contract and they want me to retire in December after 13 years working there. I guess if I reject their option I will be gone in June. I have worked in City, County and local school government for 31 years. Not exactly the way I envisioned ending my career at age 57. :(
     
  15. Mar 22, 2009 #55 of 339
    phrelin

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    Don't allow yourself to get depressed. It's the economy and at least you have the retirement option.

    I don't know anything about the Colorado state retirement system. I know California's CalPERS system well and the formulas are complicated functions of age, length of service under the system and wages earned. I retired at 57, much earlier than I thought I wanted to. because of health issues at the time. It left us with a significantly reduced but "adequate to get by on" pension even taking into account the reduced Social Security.

    Since then, I have discovered other facets of life that have increased my level of happiness and improved my health, mostly because of less stress. I hope you can find many silver linings since you have time to plan ahead. There are many good resources out there, beginning with AARP's library of related information. Get started now.

    Yeah, I know it's a bit "Mary Poppins", but it is true.:grin:
     
  16. Mar 22, 2009 #56 of 339
    jclewter79

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    Well guys, all those jobs that were supposed to get us thought the summer have obviously not panned out. My foreman told me friday that he was supposed the lay me and another guy off but, another foreman called in and needed two more guys for about 2 more weeks with maybe some overtime. If nothing comes up in the next two weeks I might join the ranked of the unemployed. It sucks but, I guess we will make due.
     
  17. Apr 8, 2009 #57 of 339
    Matt9876

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    Well folks it's time to admit my DirecTV contracting job has hit the end,Not one job in three weeks:(

    I've been looking for a job in several fields for the past two months to no avail,Only reply I get is when things pick up a bit we might will call you.

    I've never been out of work before,If this economic thing has hit me this hard I can only imagine how bad it must be for others.

    I have a rainy day fund but it will only last two or three months.
     
  18. Apr 8, 2009 #58 of 339
    dorfd1

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    it is the government's fault.
     
  19. Apr 8, 2009 #59 of 339
    Richard King

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    Nah, it's sunspots. ;)
     
  20. Apr 8, 2009 #60 of 339
    HIPAR

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    It's the lack of sunspots .. the latest sunspot cycle just refuses to get started. :)

    Akin to sunspot cycles, the business cycle has its ups and downs. The ups occur when lots of 'virtual' wealth builds .. e.g. a ridiculous increase in the the price of houses fostered by the ease of financing home purchases. Then something happens like an inordinate increase in energy costs. That interrupts cash flow required to sustain the process and instantaneously halts the growth causing the system to hiccup to purge out the excesses. Then the whole thing starts over.

    Contrary to what's being reported in the news, not everyone has been totally wiped out. I'm sure there are severe hardship cases but if you if you have a roof over your head, are not malnourished and hopefully not ill, you'll just need to do what's required to make it until the cycle starts its upward trend.

    --- CHAS
     

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