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The Layoffs Thread

Have the recent string of layoffs affected you directly?

  • Yes, I have been laid off.

    Votes: 24 15.8%

  • Yes, a friend or family member has been laid off.

    Votes: 38 25.0%

  • No, but there's been a lot of talk around my workplace about possible lay offs.

    Votes: 28 18.4%

  • No, not at all.

    Votes: 62 40.8%
  • Total voters
    152
andiwm2003 said:
If huffington post is correct then Citigroup will announce 23ooo to 40ooo lay offs (world wide) on monday. the lay offs will happen within 5 month.

My guess is that half of the lay offs will be in the US.

Although I see that citigroup is very inefficient and banking in general in the US is overstaffed and overpaid I feel sorry for the employees who lose their job just around the Xmas holidays. And the ones who keep their jobs will have a tough time and no feeling of job security for quite some time.:(
Click to expand...

They had this going across MSNBC ticker also. (Watching them for the fire coverage here in California). Man that is huge!
 
Unspeaked said:
Not nearly as many announcements this morning as last Monday, but with the giant number at Citigroup, it may actually be worse:

Citigroup - 53,000

Simmons - 560

Yahoo - undisclosed (rumored)

HSBC - 450
Click to expand...



well the Citigroup lay off seems to be less worse than the numbers say (isn't it sad how one's perception of "bad" changes when you talk in 10's of thousands of people).

It seems half of the staff reduction comes from selling off business units (in part overseas). The people there often don't get laid off. Well, I wish all of them the best of luck because in the financial industry right now.....
 
iShater said:
You are really committed to this thread :D
Click to expand...

If my employer ends up on this list, I'll need somewhere to focus my energy - I'm just starting early...

(That being said, I really hope the rate of these slows down soon - it'll be good for the workforce and me.)
 
Unspeaked said:
If my employer ends up on this list, I'll need somewhere to focus my energy - I'm just starting early...

(That being said, I really hope the rate of these slows down soon - it'll be good for the workforce and me.)
Click to expand...

I hope you are right. But I doubt it will really slow down any time soon. I hope I am wrong. :eek:
 
 
andiwm2003 said:
well the Citigroup lay off seems to be less worse than the numbers say (isn't it sad how one's perception of "bad" changes when you talk in 10's of thousands of people).

It seems half of the staff reduction comes from selling off business units (in part overseas). The people there often don't get laid off. Well, I wish all of them the best of luck because in the financial industry right now.....
Click to expand...

This is on top of 20,000 they laid off earlier in the year.

It was probably the first public indication that there were problems coming...
 
I was nearly laid off last week, but then I was interviewed by some of the top folk/new franchisee and they seemed suitably impressed...
 
Unspeaked, could you add a new option to the poll?

- I am a contractor/freelancer and next gig if coming.
- I am a contractor/freelancer and can't find anything.

Or something like that. None of the current one apply to me. :eek:
 
I finished off my Mortage/Home Loan last year. I own my car, a 10 year old Honda CRV. I have no outstanding debt, at all. I do need a new kitchen, which as already been demolished and has no fixtures. I have the money saved for this but have been sitting on it for months. I live alone so the inconvience of not having a working kitchen doesn't bother me. I also eat out all the time and don't cook. Even after paying for the kitchen I still have enough saved for year of unemployment but what scares me is if something medical crops up. With a job comes health insurance and that my friend is the reason for working. I've seen peoples entire savings go to pay medical bills. When you are young you don't think about it but when you have a family or in my case, are over 50, it sits front row center.
 
pagansoul said:
I finished off my Mortage/Home Loan last year. I own my car, a 10 year old Honda CRV. I have no outstanding debt, at all. I do need a new kitchen, which as already been demolished and has no fixtures. I have the money saved for this but have been sitting on it for months. I live alone so the inconvience of not having a working kitchen doesn't bother me. I also eat out all the time and don't cook. Even after paying for the kitchen I still have enough saved for year of unemployment but what scares me is if something medical crops up. With a job comes health insurance and that my friend is the reason for working. I've seen peoples entire savings go to pay medical bills. When you are young you don't think about it but when you have a family or in my case, are over 50, it sits front row center.
Click to expand...

You're in a very good position and i think this is what most people are going to have to go back to doing. Luckily in this country we get free health care (if unemployed you get your 'stamp' paid for which funds the NHS and allows you to continue receiving free care, and if unemployed you get free prescriptions.

I have seen (from friends who live in the USA) the trauma that can be getting ill!! It has huge financial impacts especially when the insurance company thinks they have grounds for not paying out!! :(
 
 
I haven't been affected by the layoffs directly because I'm still employed. But it has definitely made it harder to find a job back home near my family which I am currently trying to do.
 
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