Just got off a conference call with my company and was gutted to learn they will be downsizing the company by 50%!. The current field I'm in depends heavily on industries that want to expand ... basically geophysical exploration (ie: looking for precious minerals). Plus we are heavily dependent on companies that are located in North America, which makes this situation really $hitty. They haven't mentioned people yet, but I'm fairly certain I'm in the loosing bracket ... being a relatively new hire and all.
I'm pretty depressed and somber about all this and just wanted to find a place to moan and gripe about the jacked up situation I'm in ... maybe I should start looking for a new career as a panhandler.
Anyone else In a similar position because of the economy?
Full Version: loosing job because of $hitty economy
I got layed off from an investment bank (one of IB that went bankrupt) last March. Within 1 month, I got an job offer with a much better company and higher salary. I work in IT, so it is not exactly the same situation as you though.
QUOTE(Tissue Box @ Jan 20 2009, 07:59 PM) [snapback]4093948[/snapback]
the company i work for have given pay cuts (and staff reductions) to everyone working in entry-level to middle manager-level positions, except for those in underwriting and sales, which is where i work. they've actually been pretty generous w/ our incentive packages, but people who underperform get dropped almost immediately. there's no opportunity to become complacent., because as soon as you drop your game, you're pretty much gone.
Did you get a bonus?
that's terrible news man, it's a really $hitty feeling to not know whether or not you'll get called into HR when you get into the office in the morning. It also sucks losing your job in this kind of recession that's hemorrhaging jobs by the thousands everyday. i really hope you do get to keep your job, but even if you don't, hopefully you get some kind of severance to hold you off until you find another job. if you have unique & flexible skillsets, it should prove to be invaluable even in times of recession. i'm kind of in the same boat as you in that my company filed for chap 11 bankruptcy a few weeks ago so the uncertainly is definitely there. the good thing about the place where i work is that it's actually one of the profitable units of the company so hopefully they continue to sustain the workforce or sell us off the another company in a better fiscal position. good luck to us all!
ttocs, you used to work for Lehman? congrats on getting a new & better gig in this environment, that's pretty remarkable
ttocs, you used to work for Lehman? congrats on getting a new & better gig in this environment, that's pretty remarkable
QUOTE(SkylineC83 @ Jan 20 2009, 08:06 PM) [snapback]4093967[/snapback]
ttocs, you used to work for Lehman? congrats on getting a new & better gig in this environment, that's pretty remarkable
Ya, worked there for 2 years; the work was boring as hell and you worked long @ss hours, sometimes including weekends.
It was last spring, so it wasn't too bad then. But if you are in IT and have the right skills, it should not be too difficult getting job offers (at least in NYC).
loosing job? what does that mean
QUOTE(Tissue Box @ Jan 20 2009, 07:59 PM) [snapback]4093948[/snapback]
the company i work for have given pay cuts (and staff reductions) to everyone working in entry-level to middle manager-level positions, except for those in underwriting and sales, which is where i work. they've actually been pretty generous w/ our incentive packages, but people who underperform get dropped almost immediately. there's no opportunity to become complacent., because as soon as you drop your game, you're pretty much gone.
yeah, the only department in my company not affected is sales ... guess people are still hoping they will somehow come up with a miracle. Its tough for them because there's ALOT of pressure on them to perform. I'd rather loose my job than be in their position.
Well, best wishes to you all. Hope the economy won't get anymore worse than it already is. Good luck.
QUOTE(Tissue Box @ Jan 20 2009, 08:25 PM) [snapback]4093994[/snapback]
yeah, i actually get more from commission and bonus than i do my base salary (in a good quarter).
sweeeeeet!
That sucks, I work in the federal sector. Best place for job security IMO, and the pay isn't bad at all. I sit around my office most days shooting the $hit with co workers and collect my nice little 5200 dollar paycheck at the end of the month.
I'm sorry to hear that, kaysea. I really hope you get to keep your job if you're happy in it. It'll be unfortunate if you do lose it, but as corny as it sounds, I have to say it -when one door closes, another one opens up. 
QUOTE(surfinsushi @ Jan 22 2009, 12:41 AM) [snapback]4096113[/snapback]
when one door closes, another one opens up.
So true!
QUOTE(surfinsushi @ Jan 22 2009, 02:41 PM) [snapback]4096113[/snapback]
I'm sorry to hear that, kaysea. I really hope you get to keep your job if you're happy in it. It'll be unfortunate if you do lose it, but as corny as it sounds, I have to say it -when one door closes, another one opens up.
Hopefully sooner than later though..
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