Got laid off....

NEW -> Contingent Buyer Assistance Program
Can anyone predict an end to this mess? What started as a few people who were perceived to be crying wolf (many on the IHB) is really turning into a disaster. I know we are mostly bears here, but does anyone have any idea when it will start to pick up? I'm really feeling bad for all and hoping there is some hope to turn this around soon.
 
[quote author="tmare" date=1229268361]Can anyone predict an end to this mess? What started as a few people who were perceived to be crying wolf (many on the IHB) is really turning into a disaster. I know we are mostly bears here, but does anyone have any idea when it will start to pick up? I'm really feeling bad for all and hoping there is some hope to turn this around soon.</blockquote>
I'm fairly optimistic but reality is a cold slap in the face. I honestly don't see things picking up for at least a few years. The main problem is with banks not lending and they are looking at huge additional losses to come...credit card, small business, commercial real estate, etc.
 
[quote author="ipoplaya" date=1229253572]Sorry to hear the news Vas...



I suspect we are going to see much more of it very soon. A month ago, I thought my job and company would be kosher until the summer. Based off some forecasts they are having me do and a rather long and painful meeting on Friday, I am thinking I might be pink slipping myself come the end of February. I am closing down an office in early Jan and have already planned on 6 additional terminations, including two off my staff, between now and Feb 1st.



Nice to have unemployment last more than a half year but it would be really great if they temporarily upped the weekly max. $450/week is great if you are making $45K a year but not much assistance for those making six figures.</blockquote>


So... how to not be a d*ck about this... I don't want this to come across as "See, I... was right about the jobs in OC", nor do I want to throw it in your face. If that were the case, I would dig up previous comments, but I won't because I have come to respect you. But seriousily, do you wish you took uncle crackercake's analysis of the OC job market more seriously? Would your company have benefited from my original analysis? I say this because, I hate to see you wondering if you will have a job, let alone have to lay off people. Back then when we butted heads, even then I would not wished that you would lose your job



So, all in all... do you, and several others, wish that this could have been foreseen? And how you could have been better prepared for it?
 
<blockquote>Nobody can cash ?I told you sos?.</blockquote>


No_Vas



True statement. If we could cash "I told you sos" the we would all be rich.



Not that it is important but have you seen the layoff numbers for NASCAR? If the auto makers fail or the politicians get more involved in running the big 3 it will be interesting to see the direction they take with motor-sports. People may say who cares about auto racing but it is a huge job/income generator.





The economic slowdown affects all parts of the economy and we will be seeing more negative impacts on each of us or our family as it progresses. Unfortunately it brings the reality home for us.



Two of my friends in the new home industry had their paychecks arrive 5 days late this month and had their company cellphones shut off on December 1. How do you think they are feeling as far as job security. That is after loosing their auto allowance and company credit cards earlier in the year.



Hang on.
 
[quote author="usctrojanman29" date=1229266700][quote author="ipoplaya" date=1229253572]Sorry to hear the news Vas...



I suspect we are going to see much more of it very soon. A month ago, I thought my job and company would be kosher until the summer. Based off some forecasts they are having me do and a rather long and painful meeting on Friday, I am thinking I might be pink slipping myself come the end of February. I am closing down an office in early Jan and have already planned on 6 additional terminations, including two off my staff, between now and Feb 1st.



Nice to have unemployment last more than a half year but it would be really great if they temporarily upped the weekly max. $450/week is great if you are making $45K a year but not much assistance for those making six figures.</blockquote>
Exactly, for folks that make six figures $450 per week just doesn't cut it. With all the new extensions, unemployment benefits here in CA last for 57 weeks (probably gonna increase with the Obama simulus bill). Some rates lika MA, CT, and RI have unemployment checks of $650 to $900 per week. It's not pretty out there IPO. My good friend who works as a financial analyst for Toyota is getting concerning and has heard they are gonna essentially do away with bonuses. Thank goodness we have some money stashed away. I'm gonna be speaking about possibly working for a client of mine who is a real estate investor/developer who sold old most of his holdings in the past few years and is very liquid looking to pick up bargains and flip them for profit.</blockquote>


eh, not so much. (and this is coming from someone who's spouse also just lost her job and is getting the $450/wk)



sorry about the job loss, but really, if you are in a high salary occupation, you have the knowledge and ability to save more than someone who is in a $20k/yr occupation. The $450/wk is supposed to be enough to get by minimally, but as any conservative would tell anyone who listens, it should not be a comfortable amount, so that there is a strong incentive to go out and find productive employment.
 
[quote author="tmare" date=1229268361]Can anyone predict an end to this mess? What started as a few people who were perceived to be crying wolf (many on the IHB) is really turning into a disaster. I know we are mostly bears here, but does anyone have any idea when it will start to pick up? I'm really feeling bad for all and hoping there is some hope to turn this around soon.</blockquote>


There will be no turn any time soon. And things are going to get much worse.



Boy Scout motto: Be Prepared
 
[quote author="freedomCM" date=1229309090][quote author="usctrojanman29" date=1229266700][quote author="ipoplaya" date=1229253572]Sorry to hear the news Vas...



I suspect we are going to see much more of it very soon. A month ago, I thought my job and company would be kosher until the summer. Based off some forecasts they are having me do and a rather long and painful meeting on Friday, I am thinking I might be pink slipping myself come the end of February. I am closing down an office in early Jan and have already planned on 6 additional terminations, including two off my staff, between now and Feb 1st.



Nice to have unemployment last more than a half year but it would be really great if they temporarily upped the weekly max. $450/week is great if you are making $45K a year but not much assistance for those making six figures.</blockquote>
Exactly, for folks that make six figures $450 per week just doesn't cut it. With all the new extensions, unemployment benefits here in CA last for 57 weeks (probably gonna increase with the Obama simulus bill). Some rates lika MA, CT, and RI have unemployment checks of $650 to $900 per week. It's not pretty out there IPO. My good friend who works as a financial analyst for Toyota is getting concerning and has heard they are gonna essentially do away with bonuses. Thank goodness we have some money stashed away. I'm gonna be speaking about possibly working for a client of mine who is a real estate investor/developer who sold old most of his holdings in the past few years and is very liquid looking to pick up bargains and flip them for profit.</blockquote>


eh, not so much. (and this is coming from someone who's spouse also just lost her job and is getting the $450/wk)



sorry about the job loss, but really, if you are in a high salary occupation, you have the knowledge and ability to save more than someone who is in a $20k/yr occupation. The $450/wk is supposed to be enough to get by minimally, but as any conservative would tell anyone who listens, it should not be a comfortable amount, so that there is a strong incentive to go out and find productive employment.</blockquote>


I concur freedom. I don't have too much sympathy for high wage earners that don't set aside funds to cover employment gaps. I could be off work for many many years, provided my wife kept her job, and still live comfortable. Hate to dig into the reserves and not put away for retirement but if that's the most hardship we experience, it's nothing compared to what others will have to endure.



It's never taken me more than a month or so to secure a viable job offer, although when I changed jobs during the last recession, I did take a bit of a pay cut. I have a feeling I will get work quickly, but at 10-15% less than what I make today...
 
[quote author="awgee" date=1229330242][quote author="tmare" date=1229268361]Can anyone predict an end to this mess? What started as a few people who were perceived to be crying wolf (many on the IHB) is really turning into a disaster. I know we are mostly bears here, but does anyone have any idea when it will start to pick up? I'm really feeling bad for all and hoping there is some hope to turn this around soon.</blockquote>


There will be no turn any time soon. And things are going to get much worse.



Boy Scout motto: Be Prepared</blockquote>


I am preparing by cashing out the majority of my PTO, around 200 hours or so, next week. Hate to pay taxes on that comp a year earlier, but don't want to have all that stranded if we go BK...
 
[quote author="ipoplaya" date=1229333154][quote author="freedomCM" date=1229309090][quote author="usctrojanman29" date=1229266700][quote author="ipoplaya" date=1229253572]Sorry to hear the news Vas...



I suspect we are going to see much more of it very soon. A month ago, I thought my job and company would be kosher until the summer. Based off some forecasts they are having me do and a rather long and painful meeting on Friday, I am thinking I might be pink slipping myself come the end of February. I am closing down an office in early Jan and have already planned on 6 additional terminations, including two off my staff, between now and Feb 1st.



Nice to have unemployment last more than a half year but it would be really great if they temporarily upped the weekly max. $450/week is great if you are making $45K a year but not much assistance for those making six figures.</blockquote>
Exactly, for folks that make six figures $450 per week just doesn't cut it. With all the new extensions, unemployment benefits here in CA last for 57 weeks (probably gonna increase with the Obama simulus bill). Some rates lika MA, CT, and RI have unemployment checks of $650 to $900 per week. It's not pretty out there IPO. My good friend who works as a financial analyst for Toyota is getting concerning and has heard they are gonna essentially do away with bonuses. Thank goodness we have some money stashed away. I'm gonna be speaking about possibly working for a client of mine who is a real estate investor/developer who sold old most of his holdings in the past few years and is very liquid looking to pick up bargains and flip them for profit.</blockquote>


eh, not so much. (and this is coming from someone who's spouse also just lost her job and is getting the $450/wk)



sorry about the job loss, but really, if you are in a high salary occupation, you have the knowledge and ability to save more than someone who is in a $20k/yr occupation. The $450/wk is supposed to be enough to get by minimally, but as any conservative would tell anyone who listens, it should not be a comfortable amount, so that there is a strong incentive to go out and find productive employment.</blockquote>


I concur freedom. I don't have too much sympathy for high wage earners that don't set aside funds to cover employment gaps. I could be off work for many many years, provided my wife kept her job, and still live comfortable. Hate to dig into the reserves and not put away for retirement but if that's the most hardship we experience, it's nothing compared to what others will have to endure.



It's never taken me more than a month or so to secure a viable job offer, although when I changed jobs during the last recession, I did take a bit of a pay cut. I have a feeling I will get work quickly, but at 10-15% less than what I make today...</blockquote>
I dunno about that IPO, I think some of us may have to take 25%+ decreases in pay to find a job nowadays if we are lucky enough to find one. I've been scaling back my expenses since the summer so I could easily get by with a $75k/yr job which would be a 50% decrease in pay for me.
 
[quote author="usctrojanman29" date=1229336497]

I dunno about that IPO, I think some of us may have to take 25%+ decreases in pay to find a job nowadays if we are lucky enough to find one. I've been scaling back my expenses since the summer so I could easily get by with a $75k/yr job which would be a 50% decrease in pay for me.</blockquote>


I suspect that may be the case for some SC, especially front-office types involved in generating revenue. I'm a back-office flunky and our income potential is more limited but a bit more secure and stable...



I'm going to have to start charging for all the tax returns I do this year to make some gas money! :)
 
I'm also sad to hear about no_vas and other IHB layoffs.



It helps bring a reality check to us to make sure we do prepare ouselves for these type of things and I appreciate the honesty because I can imagine it's not easy telling people that you or your sig other has been layed off.



Scary times indeed.
 
Very sorry to hear about the layoffs. I know the folks on this board are bright and well-educated, so I hope finding a new job isn't that difficult. BTW, don't be afraid to take a job at a lower salary. If you are a good worker, your efforts will be recognized and you will be promoted soon. Before you know it, you will be right back where you started. It's better to sacrifice salary for stability. Take it from someone who has been there and knows.
 
[quote author="ipoplaya" date=1229339780][quote author="usctrojanman29" date=1229336497]

I dunno about that IPO, I think some of us may have to take 25%+ decreases in pay to find a job nowadays if we are lucky enough to find one. I've been scaling back my expenses since the summer so I could easily get by with a $75k/yr job which would be a 50% decrease in pay for me.</blockquote>


I suspect that may be the case for some SC, especially front-office types involved in generating revenue. I'm a back-office flunky and our income potential is more limited but a bit more secure and stable...



I'm going to have to start charging for all the tax returns I do this year to make some gas money! :)</blockquote>


Make sure you report that income and pay taxes on it.
 
[quote author="no_vaseline" date=1258021899]Back from the dead:



Mrs. Vas got 'slipped - again.</blockquote>
Sorry, dude.
 
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