Life NFT: The economy, the recession and your job. - Page 5

BigVE · 01-23-2009, 01:39 PM

How goes it? I work for a company that builds mono-clave sterilizers. We sell to all types of medical facilities that include laboratories, hospitals, clinics and MANY universities. The writing is on the wall with my employer...sales are way down with nothing big on the horizon. A few layoffs have already happened and then today we just got a memo about all wages/salaries for 2009 being froze at the 2008 rate and that the company would suspend their matching 401k contributions. After the 1st qtr it looks very lean. Who knows what the future holds but for right now we are holding our breath and hoping our sales team can pull through. Very few jobs are recession proof....how is yours?

Abba-Dabba · 01-24-2009, 08:36 AM

Quote:

Originally Posted by Fat Elvis

If you are caught on a Segway, "win" is never part of the equation....

That's what the people say when they can't afford one.

Nothing but pure awesomeness

tmax63 · 01-24-2009, 09:50 AM

I'm with the government and I'm here to help............ Actually I'm a civilian working for the Army (GS) and I'll hit a combined 25yrs of service in about a year and a half. I'm also prior service (12yrs in the Army) so short of getting caught stealing or doing drugs I'm about as safe as it gets. My cost of living increase for this year was 71 cents an hour.

KC Jones · 01-24-2009, 09:50 AM

I'm in a Financial Services company

However I feel pretty secure. We sold half the company last year that was health insurance to focus on our retirement services record keeping (that's the part I work in). We're flush with cash from the sell and looking to buy up stuff on the cheap as banks fail or are in trouble and need to sell off their record keeping services. We're also one of the cheapest in the market so when companies look to save money we may get more business.

Now the company has been going through a layoff of various corporate staff since we just sold half the people they used to support but since our division is the new focus we are out of scope. There is some impact though. The companies revenue is partly tied to assets managed and since the market tanked that number has gone down. Also management is using the tough economy to squeeze people a little more. I'm not planning on much of a bonus or raise this year.

**Buehler445** · 01-25-2009, 09:30 PM

I work in Internal Audit for Cabela's. The company had their first ever layoff in October. It was pretty weird to sit through. Fortunately I survived it. Unfortunately, I had to audit it.

As of now, Cabela's is doing shitty, just like everything else. I haven't seen the YE numbers, but I hear it isn't as epic fail as most of the rest of the year. Q4 is typically ginormous for us. I talked to my boss about another layoff and she stated that she has not been contacted about one yet. She said that means there isn't going to be one, or she's the one getting shitcanned

. I have reason to believe I should be OK. I have the highest education level of anyone in the department and haven't received any criticism other than just the constructive type stuff relative to any aspect of my performance, whereas a few others, aren't necessarily doing quite as well. Additionally, I do work for our external auditors who charge $180/billable hour + travel, accomodations, etc. So in reality, I probably pay my own salary a few times over.

But, I'm 25, a man, and white, so that probably equates to first out.

I'm crossing my fingers for a turnaround soon. There are contingencies I have in place, but I really don't want to screw with it.

**The Bad Guy** · 01-25-2009, 09:34 PM

I'm a special education teacher in VA. I'm moving back to PA in July with the wife to live more comfortably when the baby arrives in August, and be closer to our families.

The district down here is freezing pay increases. I started sending out my applications for employment in PA for the 2009-10 school year.

Hopefully I don't run into any trouble.

**Saulbadguy** · 01-25-2009, 09:44 PM

Work for the Government. Anxiously awaiting President Obamas stimulus package, we will be swimming in $$$ after that passes.

However, i've had to absorb a couple jobs that went unfilled, but that just made my job closer to "real life" rather than sitting around doing nothing for 6 of the 8 hours of the day.

**Rain Man** · 01-25-2009, 09:54 PM

Quote:

Originally Posted by Bugeater

I just got the best job I've ever had in my life a few months ago, I'll be pissed if the economy ****s it up for me.

Obama? Is that you?

**Iowanian** · 01-26-2009, 10:06 AM

I'm living the dream....doing whatever I have to do to make things work.

**rockymtnchief** · 01-26-2009, 10:49 AM

For now, my job is pretty safe. I cover a county and a half as a phone/internet combination tech. Each week I get more and more work piled on me. But in a couple years my area is getting upgraded to fiber to the home and the trouble calls will be cut way down. Then I could see my exchange getting absorbed by another. The bright side is that a few of the older guys are about to retire so I can probably move laterally in the company to a new area.

DJ's left nut · 01-26-2009, 10:52 AM

Quote:

Originally Posted by KC Jones

I'm in a Financial Services company

However I feel pretty secure. We sold half the company last year that was health insurance to focus on our retirement services record keeping (that's the part I work in). We're flush with cash from the sell and looking to buy up stuff on the cheap as banks fail or are in trouble and need to sell off their record keeping services. We're also one of the cheapest in the market so when companies look to save money we may get more business.

I know it sucks when the higher ups freeze raises, etc... but it sounds like your mgmt team has a pretty good head on its shoulders. Maybe it backfires, but if your company has always been strongest in retirement services, selling off the weaker part to get capital that can be used in a down market is a great approach.

You make most of your money when there's blood in the streets. Companies with forward thinking leadership will be in exceptional shape in 12-18 mos.

memyselfI · 01-26-2009, 11:23 AM

Sprint announced another 8k layoffs nationwide today. That should hit the KC area pretty hard, unfortunately. Home Depot annoucned a bunch as well.

kepp · 02-05-2009, 11:09 AM

Quote:

Originally Posted by Saulbadguy

Work for the Government. Anxiously awaiting President Obamas stimulus package, we will be swimming in $$$ after that passes.

Quick question about this. I have my taxes ready to file but I'm not sure if I should wait for the stimulus package to get hashed out/passed in congress. Does it propose tax credits or a stimulus check like we got in 2008? If its a tax credit I would want to wait to file, right?

Jilly · 02-05-2009, 11:16 AM

I'm good. Apparently God is a hot commodity in the midst of crisis

**mikeyis4dcats.** · 02-05-2009, 11:22 AM

wow, wasn't aware we had so many of us working in commercial construction around here.

Topeka's always been slower in growth than the KC area and other regions, and we've seen some more dropoff beyond that. Luckily we do a lot of gov't work and plant maintenance, so those are both still going okay. I've got more senority that 2 others here, so I think my position is pretty safe if they make any cuts. And obviously they won't get any work if they get rid of all of us.

rad · 02-05-2009, 11:24 AM

Quote:

Originally Posted by kepp

Quick question about this. I have my taxes ready to file but I'm not sure if I should wait for the stimulus package to get hashed out/passed in congress. Does it propose tax credits or a stimulus check like we got in 2008? If its a tax credit I would want to wait to file, right?

HAHAHA, you file taxes.

01-23-2009, 01:39 PM
BigVE Veteran Join Date: Apr 2001 Location: centralKs Casino cash: $10005250	NFT: The economy, the recession and your job. How goes it? I work for a company that builds mono-clave sterilizers. We sell to all types of medical facilities that include laboratories, hospitals, clinics and MANY universities. The writing is on the wall with my employer...sales are way down with nothing big on the horizon. A few layoffs have already happened and then today we just got a memo about all wages/salaries for 2009 being froze at the 2008 rate and that the company would suspend their matching 401k contributions. After the 1st qtr it looks very lean. Who knows what the future holds but for right now we are holding our breath and hoping our sales team can pull through. Very few jobs are recession proof....how is yours?
Posts: 4,829

01-24-2009, 09:50 AM	#62
tmax63 Veteran Join Date: Apr 2007 Location: Colorado Casino cash: $453600	I'm with the government and I'm here to help............ Actually I'm a civilian working for the Army (GS) and I'll hit a combined 25yrs of service in about a year and a half. I'm also prior service (12yrs in the Army) so short of getting caught stealing or doing drugs I'm about as safe as it gets. My cost of living increase for this year was 71 cents an hour. __________________ An armed member of society is a citizen, an unarmed member is a subject.
Posts: 3,994

01-24-2009, 09:50 AM	#63
KC Jones Genious Join Date: Aug 2000 Location: Colorado Casino cash: $10012761	I'm in a Financial Services company However I feel pretty secure. We sold half the company last year that was health insurance to focus on our retirement services record keeping (that's the part I work in). We're flush with cash from the sell and looking to buy up stuff on the cheap as banks fail or are in trouble and need to sell off their record keeping services. We're also one of the cheapest in the market so when companies look to save money we may get more business. Now the company has been going through a layoff of various corporate staff since we just sold half the people they used to support but since our division is the new focus we are out of scope. There is some impact though. The companies revenue is partly tied to assets managed and since the market tanked that number has gone down. Also management is using the tough economy to squeeze people a little more. I'm not planning on much of a bonus or raise this year. __________________ re-sign: to sign again resign: to withdraw from employment
Posts: 5,366

01-25-2009, 09:30 PM	#64
Buehler445 Supporter Join Date: Apr 2007 Location: Scott City KS Casino cash: $-1585266	I work in Internal Audit for Cabela's. The company had their first ever layoff in October. It was pretty weird to sit through. Fortunately I survived it. Unfortunately, I had to audit it. As of now, Cabela's is doing shitty, just like everything else. I haven't seen the YE numbers, but I hear it isn't as epic fail as most of the rest of the year. Q4 is typically ginormous for us. I talked to my boss about another layoff and she stated that she has not been contacted about one yet. She said that means there isn't going to be one, or she's the one getting shitcanned . I have reason to believe I should be OK. I have the highest education level of anyone in the department and haven't received any criticism other than just the constructive type stuff relative to any aspect of my performance, whereas a few others, aren't necessarily doing quite as well. Additionally, I do work for our external auditors who charge $180/billable hour + travel, accomodations, etc. So in reality, I probably pay my own salary a few times over. But, I'm 25, a man, and white, so that probably equates to first out. I'm crossing my fingers for a turnaround soon. There are contingencies I have in place, but I really don't want to screw with it.
Posts: 60,019

01-25-2009, 09:34 PM	#65
The Bad Guy Scott Pioli Join Date: Jan 2001 Location: The Copacobana Casino cash: $9283645	I'm a special education teacher in VA. I'm moving back to PA in July with the wife to live more comfortably when the baby arrives in August, and be closer to our families. The district down here is freezing pay increases. I started sending out my applications for employment in PA for the 2009-10 school year. Hopefully I don't run into any trouble. __________________
Posts: 23,216

01-25-2009, 09:44 PM	#66
Saulbadguy When a nightmare becomes real Join Date: Nov 2003 Casino cash: $736966	Work for the Government. Anxiously awaiting President Obamas stimulus package, we will be swimming in $$$ after that passes. However, i've had to absorb a couple jobs that went unfilled, but that just made my job closer to "real life" rather than sitting around doing nothing for 6 of the 8 hours of the day.
Posts: 47,020

01-26-2009, 10:06 AM	#68
Iowanian Supporter Join Date: Aug 2000 Location: Utopia Casino cash: $1668454	I'm living the dream....doing whatever I have to do to make things work.
Posts: 62,945

01-26-2009, 10:49 AM	#69
rockymtnchief Supporter Join Date: Oct 2006 Location: The Crazys of Montana Casino cash: $10018968 VARSITY	For now, my job is pretty safe. I cover a county and a half as a phone/internet combination tech. Each week I get more and more work piled on me. But in a couple years my area is getting upgraded to fiber to the home and the trouble calls will be cut way down. Then I could see my exchange getting absorbed by another. The bright side is that a few of the older guys are about to retire so I can probably move laterally in the company to a new area.
Posts: 5,740

01-26-2009, 11:23 AM	#71
memyselfI CHANGEd your mind yet???? Join Date: Aug 2001 Location: Lunatics Anonymous Casino cash: $10005234	Sprint announced another 8k layoffs nationwide today. That should hit the KC area pretty hard, unfortunately. Home Depot annoucned a bunch as well. __________________ Meet the new boss same as the old boss. BigChiefDave:"Anyone who thought we would only be in Iraq for a few years is either stoned or just stoopid." "It is unknowable how long that conflict will last. It could last 6 days, 6 wks. I doubt 6 mths." Rummy 2/7/03
Posts: 32,000

02-05-2009, 11:16 AM	#73
Jilly MVP Join Date: Nov 2005 Location: Lee's Summit Casino cash: $9984925	I'm good. Apparently God is a hot commodity in the midst of crisis __________________ "In most of our human relationships, we spend much of our time reassuring one another that our costumes of identity are on straight." — Ram Dass
Posts: 8,462

02-05-2009, 11:22 AM	#74
mikeyis4dcats. Scarlett Johansson's boytoy Join Date: Nov 2006 Casino cash: $9555998	wow, wasn't aware we had so many of us working in commercial construction around here. Topeka's always been slower in growth than the KC area and other regions, and we've seen some more dropoff beyond that. Luckily we do a lot of gov't work and plant maintenance, so those are both still going okay. I've got more senority that 2 others here, so I think my position is pretty safe if they make any cuts. And obviously they won't get any work if they get rid of all of us.
Posts: 12,526