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Am I Next?

January 25th, 2009 at 07:42 am

I work at this big company that is pretty well known. They announced layoffs in this last week. They laid off 1400 in this last week with a plan to lay off 3600 in the next 18 months.

I didn't get cut this time around but people I know did. People I didn't think would be cut. Now I have to wonder if I'm next. I highly suspect that I may be on the chopping block in the next 6 months. I'm sure my friends think I'm just being paranoid, but always better safe than sorry. I was laid off once before with this company but was able to line something up, but the hiring landscape is so different, I don't know if I could squeak out of this one.

Based on this - I now officially revoke my previous goals. The goal now is to save save save in the emergency rainy day fund. I think it may get very stormy. I had a great goal to pay off my honey's student loan this year. That's off for now. The goal is to keep afloat and stash away money in case I get laid off.

Hopes and prayers go out to all who may be in a similar situation or who may have been laid off.

On a side note - I read Liz Weston's Easy Money. Good down to earth finance book! Reading Dave Ramsey's Total Money Makeover. Jury is still out on that book....

Posted in Personal Finance, Saving Money | 6 Comments »

6 Responses to “Am I Next?”

  1. Amber Says:
    January 25th, 2009 at 01:26 pm 1232889975
    1232889975

    I too would be worried and would actually start putting in applications as well as sock away as much as I could.I will definitely keep you in my prayers

  2. Smiley2009 Says:
    January 25th, 2009 at 01:43 pm 1232891023
    1232891023

    I totally understand how you feel while I am still fortunate at the moment to still have a job I have been slowing down my debt payoff to sock money away. Also i've been paying extra on any and everything i can. My electricity bill is 3 months ahead and and my cable/phone/internet is one month in advance. Just in case something happens because I know that my savings is very limited and unemployment won't cover everything but I would have something towards my rent. the biggest thing

  3. homebody Says:
    January 25th, 2009 at 02:24 pm 1232893473
    1232893473

    Hang in there and I think your goal is good. My sister told me yesterday that Oregon Health Science University laid of 1000 in Oregon, which is huge, Intel is laying off 1000 up there too.

  4. mom-sense Says:
    January 25th, 2009 at 03:34 pm 1232897691
    1232897691


    I'm with you on the worrying factor - DH works for a well known office supply company (one of the big three) and there were layoffs as well this past Thursday. Another 25 from Finance/Accounting (46 in December). DH retracted his "safety" period - he now thinks he is safe until April; and he believes the layoffs are now a quarterly thing. I revamped goals as well and am putting as much money as possible into the EF (which I felt was substantial at $10K) - yeah right!

  5. HouseHopeful Says:
    January 25th, 2009 at 04:15 pm 1232900120
    1232900120

    Sounds like changing your goals make perfect sense in this situation. Good Luck!

  6. tinibee Says:
    February 3rd, 2009 at 04:02 am 1233633758
    1233633758

    Many thanks to all for the kinds thoughts. See - this is why this site rocks so much. Smile

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