Well I have to admit that I got the &%$# shocked out of me. The company I work for, a technology company, just wacked 30% of our work force and gave the rest of us a 20% pay cut and took all healthcare benefits away.

They stated that we all have to "tighen our belts". My problem is that as a sales guy I exceeded my quota last year. Brought in $1.4M in new business. The company as a whole doubled their revenue figures for 2008. I wonder where all the money went?????

I got a sneaking idea that some of the executive management team all got big bonuses and us grunts are just getting the shaft for our hard work.

I know it doesn't help but your not alone. Don't try to figure out why in terms of performance of you or the company. the economy is now an excuse for all the employers to be predetory. History shows that in time it will turn around and when they need you , remember how ruthless they were and pay it back in spades.

Thanks, man. I needed a pick me up

Jeez Piemma, they can take your healthcare away like that??? They suck! Good luck with all that!:conf:

Thanks, man. I needed a pick me up

I thought you were looking for a new gig anyways.

I may be looking soon myself. Problem is....where? :fury::wall:
Things will get better eventually I guess. Unfortunately, I think they're going to get worse before that happens though. I wouldn't mind as much if I were younger. Gonna be a bumpy ride me thinks.
Good luck Paul.

Together we can.... That's bull sh!t.

Good luck, Paul - the only thing you can do is just duck and cover until this crap passes over us...:hs:

I thought you were looking for a new gig anyways.

I am but didn't expect to take a 20% hit on my base while I looked. I am more pissed about them doing this to my tech support guy. He has 6 kids!:eek:

Sorry to hear it Paul. Many are even worse off as you stated.

Things(bad) are happening so quickly right now its blindsiding many people. I just finished reading(three times) a great book entitled "The four hour workweek" by Tim Ferriss. Although the book is about minimizing your presence on the job while maximizing your income, the author suggests you constantly ask yourself..... If I were to become unemployed tomorrow, do I have a survival plan?
I'm not suggesting you'll be unemployed, but many people are finding themselves in unfortunate situations with regard to employment and never really gave their financial survival much though until they received termination notice.

Keep your chin up, you've fought much tougher battles than this and won.

sorry Paul seems to be the way of the times,

They told us no raises for this year and doing a bunch of other cost cutting in lieu of no massive layoffs. Guess I'm lucky I have a job.

I guess you need to be on wall street or a politician to make out these days. The rich get richer, us workin stiffs get poorer.

Well I have to admit that I got the &%$# shocked out of me. The company I work for, a technology company, just wacked 30% of our work force and gave the rest of us a 20% pay cut and took all healthcare benefits away.

They stated that we all have to "tighen our belts". My problem is that as a sales guy I exceeded my quota last year. Brought in $1.4M in new business. The company as a whole doubled their revenue figures for 2008. I wonder where all the money went?????

I got a sneaking idea that some of the executive management team all got big bonuses and us grunts are just getting the shaft for our hard work.

Hang in there Paul, round 2 of layoffs are due here next week.
This sucks all around and I still dont see an end in sight. I'd feel a little better if I was putting a hook in the back of a fat bunker and let it swim.

Paul ;;

how long are they gonna carry the medical .. they must have given you some time ;
At least now in RI ..you can get individual BC & BS .. its not cheap & they take guys like you & me ;;;

BOL BUD ><><

Sorry Paul.

I am but didn't expect to take a 20% hit on my base while I looked. I am more pissed about them doing this to my tech support guy. He has 6 kids!:eek:

I know. Just saying :fishslap:

Sucks.
It's the same thing in the state, when they claim the ave state worker makes $X, so whats 20% or paying a huge chunk of your health care? It's a lot for someone like a department secretary making 30G.

good luck.

I didn't mean for this to come across as weining. I have health coverage. The company was reimbursing me for my coverage but not my wife.
The whole thing just pisses me off because they obviously made a boat load of profit. The Company went from revenue of $4.6M in 07 to $9.5M in 08 with essentially the same number of employees (i.e. the same overhead.) So they grossed $5M more in 08 yet wack 30% of the staff and cut everyone's salary and health coverage.
It smacks of what's happening on Wall Street.

Personally, I am more pissed about the ethics of what they did than anything else. I'm going to be 62 in October and I should probably retire then and fish full time. :buds:

I may be looking soon myself. Problem is....where? :fury::wall:



Look to The Bio tech sector... why? Because the restrictions on
stem cell research have just been lifted...

the companies participating in stem cell research are on the fast track. People have recently said about Obama ...your ending Gitmo and killing babies... not true, as embryonic fluid was also found to have stem cells in it... I know it means huge changes but taking away health care is totally unacceptable.

Paul, sorry to hear of your situation. But it sounds like to me
your past performance would look excellent on your resume.

Sorry to hear that. I could see if your company was hurting but it sounds like your company had a great year despite the economy. Unless future sales look very grim?

Personally, I am more pissed about the ethics of what they did than anything else. I'm going to be 62 in October and I should probably retire then and fish full time. :buds:

When you get a new gig, send them a farewell gift...
Mail them a frozen eel.
and make sure you mail it parcel post so it takes a while to get there..

:gorez:

Join the club. Over the summer (our BUSY time we got a mandatory cut across the board to 32 hours....that 20% down from 40...see a trend?) It was supposed to be for a month but lasted over three months. Well here we are again in our SLOW period cut again to 32 hours. This on top of no XMAS bonus or raise which I have gotten yearly for the past 6 years. Its just one hit after another......

oh and I forgot to mention that our largest client (the major backbone of our business) reportedly layed off 40% of its people!

Sucks reading stories like this every day !
And to think Jason Veritec is offended playing for $5 mill this season !:bs:

Hang in there Paul, round 2 of layoffs are due here next week.


Is that Fidelity? Their second round is supposed to be next week.

I didn't mean for this to come across as weining. I have health coverage. The company was reimbursing me for my coverage but not my wife.
The whole thing just pisses me off because they obviously made a boat load of profit. The Company went from revenue of $4.6M in 07 to $9.5M in 08 with essentially the same number of employees (i.e. the same overhead.) So they grossed $5M more in 08 yet wack 30% of the staff and cut everyone's salary and health coverage.
It smacks of what's happening on Wall Street.

Personally, I am more pissed about the ethics of what they did than anything else. I'm going to be 62 in October and I should probably retire then and fish full time. :buds:

Im sorry to hear about the going on's at your work,the health care is the real kicker,it sucks.
In time's such as these alot of companies such as yours who made a large profit can just jump on the economy wagon and say hey times are tough sorry.

Paul Im sorry for you & yours to go through this but it could be worse.


I got a 33% pay cut and was told I must work a 40hr. work week:smash:
So I know how your feeling.



5/0

medical coverage seems to be the thing that is holding many people hostage to losy jobs and or employers. What sort fo coverage is available for people who lose coverage because of a layoff or a company discontinuing coverage?

Maybe we should start a new forum where peole can discuss , contribute, find info on such things as unemployent , health coverage , etc. It sure is a timely topic!

Thanks for the feedback. Sad to see that I am not alone. Let's just hope our new President turns this boat around.

in my old and slow years now i can't remember worse times than present time.so many law offs of several thousands,banks and wall street tanks.all major mfg jobs overseas.i feel for all of you,i guess you just gotta bite the bullet and be thankfull you still are working and got something cause there nothing else out there.i personally got a couple family menbers hanging by there finger nails with a really bad auto co in the motor city.good luck everone,hang in there.

We'll just have to ride this out ,we have no choice .. I could really stew over this situation . Last time I did that, I got a bald spot on my head . Sux your company had a banner year and still bent everyone over. What can we do but, hold on and regroup . Next time the economy spikes I'll be leaving the major work force (old) before Wall Street wrings it out again . Bastages... good luck and hang in there . One thing I've learned in the past .. A recession is not a good time to take up heavy drinking ..

in my old and slow years now i can't remember worse times than present time.so many law offs of several thousands,banks and wall street tanks.all major mfg jobs overseas.i feel for all of you,i guess you just gotta bite the bullet and be thankfull you still are working and got something cause there nothing else out there.i personally got a couple family menbers hanging by there finger nails with a really bad auto co in the motor city.good luck everone,hang in there.

You know, I worked with an older gentleman around 9/11 (he was mid-70's then) and he said 'Kid, I've seen the best of times, and this ain't it'...

I believe him...

I feel bad for the younger folks. I'm past the worrying stage in my life. My wife is retired with an income. My kids are grown and my house is payed for. We don't have an extravagant lifestyle and other than fishing I just work a lot. The kids with little ones are the ones I worry about including my kids and grandkids. This isn't going to turn around quickly.

It worries me too bud!

Then you and Julie better wait on having little ones:uhuh:

:(

Not in any rush bud!

I didn't mean for this to come across as weining. I have health coverage. The company was reimbursing me for my coverage but not my wife.
I'm going to be 62 in October and I should probably retire then and fish full time. :buds:

Didn't sound like whining, you were simply reflecting on a situation that may hit all of us at some point.
Last November, I had to inform 12 outstanding employees of their impending fate. I did get far enough ahead of the curve so as not to blindside anyone, but my seasonal staff will be facing hourly rate cuts and fewer hours for 2009. My salaried people will be working more hours as a result. The bottom line is this is really an opportunity to prove your value as an employee, regardless of your position. The reality is there is a growing talent pool out there. People are willing to take someone else's job, do it better, and accept lower compensation.

If I were in your shoes Paul, I'd wave goodbye to the working life and live on my own terms, which it sounds like you could do.

The bottom line is this is really an opportunity to prove your value as an employee, regardless of your position. The reality is there is a growing talent pool out there. People are willing to take someone else's job, do it better, and accept lower compensation.



Yea Mike .. Its called cutting each others throats ..

Salary ? sure great .. Work late at night ? sure boss.. Work every Saturday ? no problem .. Work for less ? ..Ok .. How about Sundays ? oh I can't work Sunday .. Next !!!!

Paul, it sounds like your company is pretty small and has serviced some very volatile industries. As such, even with last years performance they are looking into a huge drop in cashflow and few resources or leverage to prop things up for a longer recession.

But the behavior should tell you something about where your company could be headed, it doesn't sound like they're trying to retain talent.

Sucks all around.

One thing that's surprising is that even though the economy didn't feel all that great under Bush, a lot of companies were expanding...and many seem to have been really exposed. Do we really need a Starbucks on every other corner? Did Caterpillar think the construction boom wasn't going to ever slow down?

Fortunately my line of work is pretty diversified, and some of our customers have been doing pretty well. That being said I'm prepared for it to catch up to us eventually.

-spence

Fortunately my line of work is pretty diversified, and some of our customers have been doing pretty well. That being said I'm prepared for it to catch up to us eventually.
-spence

Still working with Tele? they just bought another competitor... if the state ever gets it's act together we were looking at a new system....

Man losing your job is the pits. :(

Some of the churches are starting up support groups to give direction in how to find jobs, if that would help.

Still working with Tele? they just bought another competitor... if the state ever gets it's act together we were looking at a new system....
Nothing going on there, but who knows, with an acquisition there's even more need for our stuff.

-spence

Sorry to hear that more of us are facing hard times While many american citizens are losing thier jobs and looking for work, I have witnessed a huge increase in illeagal aliens in the construction industry. I am a master carpenter with over 35 years experience, and I am sickened at what is going on. First of all the quality of the work is horrible and the fact that they are paying no taxes, workmans comp, or health insurance is very unfair to all of us that are trying to run a business in a leagle way. Why are they being allowed to do this?
Seems like whatever jobs cant be shipped overseas are being filled by illeagals who are shipped here. The guys who are running this cheap labor scam are getting rich and stealing our jobs. I am currently working and am more worried about the younger folks who have to compete for these jobs.
Ok I had to vent a little

Yea Mike .. Its called cutting each others throats ..

Salary ? sure great .. Work late at night ? sure boss.. Work every Saturday ? no problem .. Work for less ? ..Ok .. How about Sundays ? oh I can't work Sunday .. Next !!!!

Its the same situation from the top down, Ed. Everyone is doing more with less. From a hiring perspective, its a great opportunity to acquire very good talent that may not have been available during the peak ecomonic boom when there were fewer potential candidates out there.
Throat cutting? Not in my mind. You need to adapt to survive, IMO. I would call it value creation.
There's no guarantee if we come out of this mess that things will be as they were before. What's happening now may become the norm, meaning as good as one may be at their job, they'll need to get even better just to keep a small piece of the pie.

Its the same situation from the top down, Ed. Everyone is doing more with less. From a hiring perspective, its a great opportunity to acquire very good talent that may not have been available during the peak ecomonic boom when there were fewer potential candidates out there.
Throat cutting? Not in my mind. You need to adapt to survive, IMO. I would call it value creation.
There's no guarantee if we come out of this mess that things will be as they were before. What's happening now may become the norm, meaning as good as one may be at their job, they'll need to get even better just to keep a small piece of the pie.

Which is the very thing this country was founded on.

What's happening now may become the norm, meaning as good as one may be at their job, they'll need to get even better just to keep a small piece of the pie.

I'm already awesome .. Can't imagine being any awesomer..:jester: I made it to 30 from 300 .. no xmas partys, no golf outings, no working on bosses house ,, no stopping by the office after to work to say HI, no bad mouthing others,, no using co workers as rungs on the ladder of success,, not related ,, nobodys brother in law . I'll work like a dog ,, none of this other monkey buisness ,. Makes me ill ..:yak6: Stupid ,dumb, pride won't allow me to compete on this level .. You see it going this way as work gets tight .. disgusting ,,.:rollem::yak4:

On another level, I did some reading this week and one author noted although things suck right now, many people expressed a sense of relief when notified of their job loss. Why?
Many people are very unhappy with their employment and it goes beyond their income/financial position. There's miserable rich folks out there too.
"If I hadn't lost my(crappy/miserable/stressful) job at XYZ company, I would have never realized there were better things out there."

.. no xmas partys, no golf outings, no working on bosses house ,, no stopping by the office after to work to say HI, no bad mouthing others,, no using co workers as rungs on the ladder of success,, not related ,,

The stuff you mention above wasn't what I was thinking in terms of creating value. I'm talking about acquiring new/more skills and yes, having to put in a little more time/become more flexible.

The stuff you mention above wasn't what I was thinking in terms of creating value. I'm talking about acquiring new/more skills and yes, having to put in a little more time/become more flexible.

exactly! The people I know who got laid off are seeking advanced education, certifications, etc. If this country wants to be competitive as a whole, we need to be competitive individually.

... advanced education, certifications, etc. If this country wants to be competitive as a whole, we need to be competitive individually.

The scariest thing one of my employers ever told me was, "You can stay here as long as you want." It sent shivers down my spine as the statement implied I was as good as I'd ever be at my job. Since then, I've followed the above stated path and will never look backwards.

as i was watching the bud ads super bowl sunday "THE GREAT AMERICAN LARGER" i was thinking it is now foreign owned-wow-we export all our jobs overseas and companys.i'm thinking looking back it pretty much started with sam walton.

Paul - sorry to hear this. Fortunately for you, you are good and will continue to do well. Did they slash your commission too?

Very tough times - thinking of starting a job board here, for networking purposes....

How about some ethics/morality training on Wall Street . :doh: Some of those guys should get marched straight to the gallows . I can appreciate trying to put a positive spin on the situation to make things better . Its not the workers fault or lack of skills in this country . Its all the robbing and stealing at all levels . Everyone wants to live like a rock star .

Paul - sorry to hear this. Fortunately for you, you are good and will continue to do well. Did they slash your commission too?

Very tough times - thinking of starting a job board here, for networking purposes....

Jobs and Benefits would be good.

How about some ethics/morality training on Wall Street . :doh: Some of those guys should get marched straight to the gallows . I can appreciate trying to put a positive spin on the situation to make things better . Its not the workers fault or lack of skills in this country . Its all the robbing and stealing at all levels . Everyone wants to live like a rock star .

I would love the hear the 3 things that Wall St did to warrant your feelings? This sentiment is spreading across America and is the same mindset as blaming McDonalds for fat people. :smash:

everyone should read this
http://insight.kellogg.northwestern.edu/index.php/finance/blog/what_caused_the_current_financial_mess_what_can_we _do_about_it/

non-political, non-headline news version of the cause of the current situation. Wall St "greed" and lapse in ethics were not the cause.
Anyone ever see the movie "High Noon" with Gary Cooper? This reminds of the that movie. When everything is going ok, everyone loved their 401Ks, loved their returns, everyone was on Etrade, Shcwab, Scott Trade, everyone shared in the prosperity. Then when that bubble bursts, due to many, many factors, suddenly Wall St is an evil empire of greedy scum. Interesting.

Very tough times - thinking of starting a job board here, for networking purposes....

John, if you decide to do this, I'd be more than happy to volunteer my time to help anyone here with their resumes or preparing for interviews. I've got 13 + years experience in Human Resources and been helping out some friends recently who are looking for work. There are still some good jobs out there, but it's very competitive.

How about some ethics/morality training on Wall Street . :doh: Some of those guys should get marched straight to the gallows . I can appreciate trying to put a positive spin on the situation to make things better . Its not the workers fault or lack of skills in this country . Its all the robbing and stealing at all levels . Everyone wants to live like a rock star .

I agree with the above, but its not all Wall St's fault. There's treachery in every industry.
Warren Buffett says, "I like businesses that are set up so even an idiot can run it, because eventually an idiot WILL be running it."

I would love the hear the 3 things that Wall St did to warrant your feelings?


http://www.nytimes.com/2009/01/28/business/28ponzi.html?_r=2&hp

http://www.lieffcabrasersecurities.com/cases/madoff.htm?gclid=CNaqvYjovpgCFQETGgod6ktxZg

http://www.observer.com/2008/politics/bring-wall-street-crooks-justice


http://seattletimes.nwsource.com/html/localnews/2008295231_nader22m.html

http://crooksandliars.com/nicole-belle/60-minutes-wall-streets-shadow-market

http://crooksandliars.com/silentpatriot/obama-slams-wall-st-draft
http://www.organicconsumers.org/articles/article_15463.cfm


http://www.commondreams.org/views03/0502-12.htm
http://www.intellectualconservative.com/2008/12/05/track-down-wall-street-crooks-first/

http://blackwellbrief.blogspot.com/2008/09/takeover-of-wamu-wall-street-crooks.html

Here's a bunch incase you don't like the source . Its always up to the American worker to build the economy back up .. How about once and for all stop the bleeding at the top .. This is the third recession I've worked through in my life . Not easy building a life when this crap happens every ten years . This may seem simplistic but I just feel when the economy grows fat theiving bastadges steal everything . Then its up to Joe Shmo (me) to build it up again .

On another level, I did some reading this week and one author noted although things suck right now, many people expressed a sense of relief when notified of their job loss. Why?
Many people are very unhappy with their employment and it goes beyond their income/financial position. There's miserable rich folks out there too.
"If I hadn't lost my(crappy/miserable/stressful) job at XYZ company, I would have never realized there were better things out there."



Yes Sir I can't agree with you more on that!
Im glad the Co. I worked for closed it's doors and I changed my career,I love my job every day there's something new,Im very lucky to have found something that intrests me 100%

Plus Im appreciated there........Im going place's:uhuh:

Yes Sir I can't agree with you more on that!
Im glad the Co. I worked for closed it's doors and I changed my career,I love my job every day there's something new,Im very lucky to have found something that intrests me 100%

Plus Im appreciated there........Im going place's:uhuh:


Good for you, I am glad that there is at least one shining point of light still out there from Bush Sr's. second term

Very tough times - thinking of starting a job board here, for networking purposes....

This would be good. Networking here has worked for me. I have done work at a couple member's homes and am currently working in another's this week. Just had to expand the area I was willing to travel to.