Mass layoffs??

southern yankee · Post by **southern yankee** » Wed Oct 22, 2008 3:37 pm

I have heard there are mass layoffs. in companies all over. Has anyone been effected by this?? How many years were you with this company?? Or are you considering Early retirement??

QUINNSCOMMENTARY · Post by **QUINNSCOMMENTARY** » Wed Oct 22, 2008 5:00 pm

southern yankee;1031264 wrote: I have heard there are mass layoffs. in companies all over. Has anyone been effected by this?? How many years were you with this company?? Or are you considering Early retirement??

There are layoffs coming, but you have to listen closely to what they say, many are saying they will reduce workforce in part by attrition others over time, some very quickly. there is no doubt that in some industries unemployment is rising and predictions as high as 9% unemployment by the end of next year are being made. The problem is we created a snowball and since everything is linked, everything is going to be affected until the snowball hits a tree.

I have worked for the same company for 47 years as of next week. Anyone taking early retirement now unless they are forced to is nuts for several reasons. In fact, many people taking early retirement in good times are nuts because they fail to consider the long term implications on their money.

The biggest risk in retirement is not inflation, it is longevity.

CARLA · Post by **CARLA** » Wed Oct 22, 2008 7:04 pm

My son-in-law was laid off 2 weeks ago he is an electrician not good time here in San Diego for new building. So far he hasn't found work.

wildhorses · Post by **wildhorses** » Wed Oct 22, 2008 8:23 pm

It is not likely that there will be layoffs in my area till January. But I fear things will come to a halt at that time, and not really pick up in spring as usual.

Post by **spot** » Wed Oct 22, 2008 8:27 pm

The ones coming in will leave vacant jobs behind them

The ones leaving scarcely need to work again.

That's a net increase in vacancies.

southern yankee · Post by **southern yankee** » Wed Oct 22, 2008 9:03 pm

living in a oil area. is holding us a float. but i was here during the bust. not a pretty sight.

Galbally · Post by **Galbally** » Wed Oct 22, 2008 11:46 pm

The research agency I work for is bringing in a very significant early retirement scheme for the older people, which isn't great because these are the people who tend to know what they are doing. They are also bringing in a recruitment freeze, indefintely, and are cutting back capital costs enormously. I am secure in my funding until 2010 and I consider myself extremely fortunate in that regard. After that though, well who knows. I can remember the early 1980s in Ireland and Maggie coming in after the winter of discontent in England, those were hard times over here, but I think these may be worse. Oh well, no one every said life was supposed to be easy, I consider myself very lucky at the moment, but its still alarming to watch everything falling apart so quickly.

K.Snyder · Post by **K.Snyder** » Thu Oct 23, 2008 12:05 am

Galbally;1031702 wrote: The research agency I work for is bringing in a very significant early retirement scheme for the older people, which isn't great because these are the people who tend to know what they are doing. They are also bringing in a recruitment freeze, indefintely, and are cutting back capital costs enormously. I am secure in my funding until 2010 and I consider myself extremely fortunate in that regard. After that though, well who knows. I can remember the early 1980s in Ireland and Maggie coming in after the winter of discontent in England, those were hard times over here, but I think these may be worse. Oh well, no one every said life was supposed to be easy, I consider myself very lucky at the moment, but its still alarming to watch everything falling apart so quickly.

Yeah, but there's still the English Premier League. :wah:

Galbally · Post by **Galbally** » Thu Oct 23, 2008 12:50 am

K.Snyder;1031704 wrote: Yeah, but there's still the English Premier League. :wah:

Damn right

UP THE VILLA! :guitarist

PS: What the hell is happening to Spurs? They are rubbish!

K.Snyder · Post by **K.Snyder** » Thu Oct 23, 2008 12:52 am

Galbally;1031715 wrote: Damn right

UP THE VILLA! :guitarist

PS: What the hell is happening to Spurs? They are rubbish!

Oh god...

Don't mention the Spurs!!!!!!!!...

:wah:...

Shhh!!!!!!!! Here comes Jimbo!!!!!!!...:wah:...

I can't say much though because Fulham after having looked fairly good against the Arse at home look like sh** now.

Man how does a team go from respectful to sh**?...

Post by **Oscar Namechange** » Thu Oct 23, 2008 3:10 am

I am very lucky in that i work for my brother. What ever happens, i know that i will be the very last he would lay off.

I'm also very fortunate in that, we work in an industry that i some-how can never see suffering.

My brother is a course Bookie.

He has a few mobile betting offices and each one goes to a different race track each day. It's very sad that even in a recession, there are still people who will not give up gambling and will throw their money away on the horses or the dogs.

It's a wonderfull job, i get to see some beautifull famous horses. I also love point-to-point where hunters go through their paces. These are the winners of the future and worth taking note of.

An added bonus is i get to work for some-one who never tells me off, makes sure i've got food and coffee and arranges decent transport for me. The biggest bonus is i work with all men, oh and the money is good. At the big venue's like Royal Ascot, Cheltenham Gold Cup, The Derby etc, i get to see the finest horses and some famous people as well.

It's not all glamour, we have often been grounded in the mud and had to be towed out. We've sat huddled in blankets on freezing courses in the middle of winter and of course, seeing the horses fall is not good.

southern yankee · Post by **southern yankee** » Thu Oct 23, 2008 5:05 am

heard big layoffs for Yahoo, Even cut backs on Health care worker?? i though that was a secure field??

Bez · Post by **Bez** » Thu Oct 23, 2008 5:31 am

I have just fully retired after gradually winding down by working fewer and fewer days ove 18 months. This worked well for both me and the company....but I digress. .............

I worked for the same company for over 30 years and there have always been seasonal changes in production....we made luxury audio products, however what with a lot of the production being moved to China and the 'credit crunch' the company made 30 people redundant in the summer. I have now heard that another 40 are to go 25% of which will be admin staff. Where there were 160 people working in manufacturing, there are now around 50.

I went to our nearest town shopping yesterday....it was very quiet. all the Supermarkets AND Marks and Spencer have loads of special offers....2 for the price of 1 ..... 3 for the price of 2 etc. You can certainly get some bargains...........if you're not out of work. I will certainly take advantage for Christmas presents as I'm now on a MUCH lower income.

Some GOOD news though.....my mortage has gone DOWN. I have a tracker so it up and down with the change of rates. Glad I didn't get a fixed rate 18 months ago as it was quite a lot higher.

Keep smiling though folks....if you have reasonable health, a roof over your head and a lovely family you'll survive. :-6:-6 xxx

southern yankee · Post by **southern yankee** » Thu Oct 23, 2008 6:08 am

Bez;1031834 wrote: I have just fully retired after gradually winding down by working fewer and fewer days ove 18 months. This worked well for both me and the company....but I digress. .............

I worked for the same company for over 30 years and there have always been seasonal changes in production....we made luxury audio products, however what with a lot of the production being moved to China and the 'credit crunch' the company made 30 people redundant in the summer. I have now heard that another 40 are to go 25% of which will be admin staff. Where there were 160 people working in manufacturing, there are now around 50.

I went to our nearest town shopping yesterday....it was very quiet. all the Supermarkets AND Marks and Spencer have loads of special offers....2 for the price of 1 ..... 3 for the price of 2 etc. You can certainly get some bargains...........if you're not out of work. I will certainly take advantage for Christmas presents as I'm now on a MUCH lower income.

Some GOOD news though.....my mortage has gone DOWN. I have a tracker so it up and down with the change of rates. Glad I didn't get a fixed rate 18 months ago as it was quite a lot higher.

Keep smiling though folks....if you have reasonable health, a roof over your head and a lovely family you'll survive. :-6:-6 xxx this was back in the early 90's. the steel mills were being bought out by Japanese companies. after 30 years.would qualify for a pension. well a friend of mine father and many others were LAYED OFF. with 29 YEARS. GETTING A small Severance Package. So sad for the ones who gave their all to these mills5:-5

mikeinie · Post by **mikeinie** » Thu Oct 23, 2008 8:02 am

Many companies are coming into the 4th quarter end, once the final yearly results are in then it will really hit the fan with regards to cut backs and lay offs.

Post by **spot** » Thu Oct 23, 2008 8:08 am

southern yankee;1031865 wrote: this was back in the early 90's. the steel mills were being bought out by Japanese companies. after 30 years.would qualify for a pension. well a friend of mine father and many others were LAYED OFF. with 29 YEARS. GETTING A small Severance Package. So sad for the ones who gave their all to these mills5:-5

The accountant who thought up that cost-cutting exercise should have been crucified over the main gate, that's an appalling betrayal of trust.

mikeinie · Post by **mikeinie** » Thu Oct 23, 2008 8:15 am

You know what is really stupid about global economics; the press was reporting the other day that there was another significant drop in the stock markets due to growing fear of a ‘global recession’ due to the reported slow down in the China economy.

Right, now get this..

They are slowed down from 10% growth to 9% growth.

Any economy with a 9% growth is doing fantastic, but this is seen as bad news.

The biggest flaw with the system is how they measure the whole thing. Companies that are ‘reporting losses of profits’ does not mean that they are losing money, it means that they are not making the same level of high profit as the previous year, or just not meeting their projected profit.

Then Wall Street goes crazy. I tell you, they are causing their own problems

Cow Patty · Post by **Cow Patty** » Thu Oct 23, 2008 8:18 am

I am very lucky, the economy in my city is very good right now. Here is an article about where I live.

The area of *****, Ky., ranks 12th on Forbes Magazine’s recently released annual list of Best Small Places for Business and Careers.

Forbes determined the rankings based on the cost of labor, energy, taxes and office space. Listings included rankings on the cost of doing business, job growth, educational attainment and metropolitan area size. In terms of population, the list included metro areas ranging from 56,000 to 239,000.

southern yankee · Post by **southern yankee** » Thu Oct 23, 2008 11:12 am

Cow Patty;1032054 wrote: I am very lucky, the economy in my city is very good right now. Here is an article about where I live.

The area of *****, Ky., ranks 12th on Forbes Magazine’s recently released annual list of Best Small Places for Business and Careers.

Forbes determined the rankings based on the cost of labor, energy, taxes and office space. Listings included rankings on the cost of doing business, job growth, educational attainment and metropolitan area size. In terms of population, the list included metro areas ranging from 56,000 to 239,000.

i lived in Louisville in the early 90's. really loved it there.

K.Snyder · Post by **K.Snyder** » Thu Oct 23, 2008 8:12 pm

mikeinie;1032050 wrote: You know what is really stupid about global economics; the press was reporting the other day that there was another significant drop in the stock markets due to growing fear of a ‘global recession’ due to the reported slow down in the China economy.

Right, now get this..

They are slowed down from 10% growth to 9% growth.

Any economy with a 9% growth is doing fantastic, but this is seen as bad news.

The biggest flaw with the system is how they measure the whole thing. Companies that are ‘reporting losses of profits’ does not mean that they are losing money, it means that they are not making the same level of high profit as the previous year, or just not meeting their projected profit.

Then Wall Street goes crazy. I tell you, they are causing their own problems

To be honest their all sitting around a table drinking their espresso and laughing at people running around like they were chickens with their heads cut off...

The economy will be fine for the most part...

People just will be reporting losses of only having enough to buy 2 big screen tvs as opposed to one...

The housing market does need to go down though. These people are the worst of them all and the government is as much to blame. I can't stand greedy people.

southern yankee · Post by **southern yankee** » Sat Oct 25, 2008 9:53 am

so sad the holidays are so close. this year will be very bleak for many:(

K.Snyder · Post by **K.Snyder** » Sun Oct 26, 2008 10:50 pm

southern yankee;1034304 wrote: so sad the holidays are so close. this year will be very bleak for many:(

Tis why I am voting for issue 6 in Ohio...Clinton county is losing jobs as we speak...

People of Clinton County will be losing much

By Randy Riley • August 28, 2008

There's a common theme I hear over and over again whenever I meet with government officials and others involved in the ABX/ASTAR/DHL situation. Everyone tells me that the people of Wilmington, Clinton County and all of the surrounding counties are amazing, hard-working people who don't deserve this kind of treatment from DHL.

I agree wholeheartedly, and it's not because I'm a Clinton County commissioner. It's because I know these people. They are friends, neighbors and family members. It's hard to believe that approximately 8,200 of them might lose their jobs. The personal tragedy aside, looking at the financial impact, that translates into a salary loss of $257 million in Clinton County alone. [...]http://news.cincinnati.com/article/2008 ... 3/-1/today

southern yankee · Post by **southern yankee** » Mon Oct 27, 2008 8:02 am

so far in Cajun country things are good. BUT we are being murdered. with our 401K. So we are being very conservative. Just waiting for the SKY to fall. i am sure we will be biting the bullet here too.

gmc · Post by **gmc** » Mon Oct 27, 2008 8:11 am

southern yankee;1031865 wrote: this was back in the early 90's. the steel mills were being bought out by Japanese companies. after 30 years.would qualify for a pension. well a friend of mine father and many others were LAYED OFF. with 29 YEARS. GETTING A small Severance Package. So sad for the ones who gave their all to these mills5:-5

I can't believe there weren't riots in the streets over something like that. There certainly would be here.

posted by mikeinie

You know what is really stupid about global economics; the press was reporting the other day that there was another significant drop in the stock markets due to growing fear of a ‘global recession’ due to the reported slow down in the China economy.

What's even worse a lot of companies are having their stock devalued, when they are basically sound , just making the whole situation even worse than it has to be.

Post by **spot** » Mon Oct 27, 2008 9:57 am

gmc;1036433 wrote: I can't believe there weren't riots in the streets over something like that. There certainly would be here.Not much would get a factory burned to the ground by a mob in the UK but that degree of betrayal might do it. That's so far from being an option here that I just can't imagine the circumstances being possible in the first place, much less the choice taken.

southern yankee · Post by **southern yankee** » Mon Oct 27, 2008 10:02 am

i guess anyone in the construction industry's or a auto maker is really taking a BIG HIT. Now in This part of the country. New business are going up right and left. I hope they know what they are doing?????

Post by **spot** » Mon Oct 27, 2008 11:27 am

southern yankee;1036676 wrote: Now in This part of the country. New business are going up right and left. I hope they know what they are doing?????

I expect every new business going up is yet another redundant executive investing his remaining savings into a last chance to stay above water and avoid bankruptcy.