Damn the economy, Damn the layoffs, DAMNIT!!!!

[NFS4]

DOH!!!! My dad just told he and the rest of management got called in for a meeting concerning the future of the company. It looks like his job is gonna get out-sourced to another company And from what he tells me, out-sourcing means crap as he has had to deal with those ventures before when contracting guards, etc.

Luckily, he has 33 years of service with the company so he can get a full retirement package with benefits. His best chances are with being outsourced to another company and still keep his current job and work in the same building. The worst case is that he may be out of a job. But, 50+ people got laid off today and were basically told that they were screwed Luckily my dad was fortunate enough NOT to be a part of that group.

He has been with the company since 1968. He's been through two restructures since then and now it looks like the ride is over

DAMNIT!!

 

[Moonbeam]

Nice to see you worry about your Dad. Send him this post with my congratulations for raising a worthy son.

 

[Antisocial Virge]

Yep. Most places are being done that way including a manufacturing plant here in Columbus. My division is like the only one that made $$ last year. Its a good feeling when I get a bonus but the boss does not :Q

 

[gunf1ghter]

Edited to protect the innocent.

Yeah, I hired on with [edit] and the division that I work for got spun off as [edit] not too long ago.

What's funny is that at the time of the spin-off, [edit] folks were happy to see us go since we build and service the "old school" technology like phone systems.

Now [edit] stock has been downgraded to one level above junk bonds and our company is moving in to the profitable Voice over IP and Voice and Data over ATM business.

I am glad I am not with them any longer.

Unfortunately a lot of people here hold a lot of [edit] stock in their 401K's and can't retire or leave because their stock or stock options are now worthless.

 

[Adul]

I feel for you NFS4.

 

[monckywrench]

Interestingly, competent building managers seem to be in demand. Since the only training for that gig is what ya get on the job, they aren't easy to replace.Given the growth rate in the Carolinas he will likely be able to find another job if needed. Good luck to you both.

 

[shifrbv]

NFS4 - Sorry to hear about that. I've never been laid off, but I worked at one of the Fortune 100 companies during a big layoff and it was a terrible experience. Even after it happened, the company didn't recover and working there with a bunch of contractors caused a lot of good people to leave. It did nothing but undermine the productivity of the company in the end (which ultimately reflected in their stock price). So if it's any solace to you (even though I'm sure it's not right now), what comes around goes around.

It amazes me that we've lost 275,000 jobs in the past 2 months alone (largest 2-month total since 1993), yet Greenspan still refuses to acknowledge that we're in a recession. The US experienced less than 2% GDP growth last year. Come on, even Russia had 4% GDP growth. Now that's pretty bad. How long are people going to stick their heads in the sand??

 

[BoberFett]

Downsizing sucks.

My dad is a DBA (Oracle database admin) for Cargill and they're investigating outsourcing a lot of their technical jobs to firms in India. :Q

 

[bcterps]

Yeah, I feel your pain man. I work at at large investment bank, and I know that my position is being eliminated, mostly likely by the end of April. I've been looking for a job since the beginning of this month, but it hasnt been very sucessful yet.

The worst part is that I'm getting married in June, this is just the absolute worst timing.

--Ben

 

[NFS4]

I feel for ya benchiu...I hope that everything works out OK.

 

[Aquaman]

Sorry to hear about your dads situation........... I'm sure things will work out for thought.

Cheers,
Aquaman

 

[Yeeny]

I am so sorry to hear that NFS4. My husband just called me, looks like he may be laid off the week after next. He just got this job not too long ago too, and its the best one he has ever had. The worst part is playing this waiting game.

 

[Double Trouble]

Sorry to hear about this.....

I've been lucky that the company I work for has been pretty well sheltered from the downturn so far. The one silver lining to all this is that with the unemployment rate still hovering around 4%, prospects for jobs are still pretty good -- at least not like the late 80's and early 90's when getting a decent job was extremely tough.

 

[GL]

Sorry to hear that NFS4 My dad lost his job in the recession in the early 90s and went through a couple of other unstable jobs until the mid 90s where he landed a stable one.

I'm waiting for the economy to take a downturn here in Canada but signs here show that we're going to weather the storm well - we're actually showing signs of increased job growth, so let's hope it stays that way.

It it's any consolation, I'm fairly certain this won't be a lengthy recession so hopefully your father will be able to find work.

-GL