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Impending Doom(mass layoffs coming)

Wreckem

Diamond Member
Sep 23, 2006
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435
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I am going to post a bunch of links over time and articles but October is going to be a bloodbath in terms of layoffs unless disaster is averted. It doesn’t look like a last minute deal will be had to extend government intervention in the labor market.

So let’s start with Disney. Disney is laying of( 28,000 people associated with its Parks, Cruise, and Consumer Services departments. The full story also shows, although not public announced they are shuttering most of their Disney stores.

The Airline industry is next. Up to 100,000 air line workers are are set for layoffs starting tomorrow. Tens of thousands of airport workers will also be hit.

About a dozen other major companies have announced layoffs in September effective in October. More will be announcing soon.

How will this happening so close to the election impact effect the election?

Personnally I think the GOP is about to get outmaneuvered. The House is going to pass a new version of HEROS to prevent these layoffs while the GOP and Senate are just trying to ram through a SCOTUS appointment. Meadows is apparently out of the way but if Manuchin doesn’t get the White House or GOP to budge. They are going to get skewered as layoffs mount the month before the election.
 

K1052

Lifer
Aug 21, 2003
35,157
8,464
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My perception is that a new aid package will probably be agreed to shortly. Trump wants checks with his name on them in voter hands and Dems will get a big chunk of their asks. Hearing a lot of rumblings from a lobbying arm that a deal is close.
 

Wreckem

Diamond Member
Sep 23, 2006
9,059
435
126
My perception is that a new aid package will probably be agreed to shortly. Trump wants checks with his name on them in voter hands and Dems will get a big chunk of their asks. Hearing a lot of rumblings from a lobbying arm that a deal is close.
Earlier in the day it did look like something might happen. As of now airlines have already sent out lists/notifications and have told effects employees to turn in their badges tomorrow.

At this point even if an agreement is reached tomorrow it will be atleast a week out minimum for it to pass and signed into law. Which means a second round checks won’t be sent out in time before the election.
 

K1052

Lifer
Aug 21, 2003
35,157
8,464
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Earlier in the day it did look like something might happen. As of now airlines have already sent out lists/notifications and have told effects employees to turn in their badges tomorrow.

At this point even if an agreement is reached tomorrow it will be atleast a week out minimum for it to pass and signed into law. Which means a second round checks won’t be sent out in time before the election.
A lot of this is already written and they could stay the weekend to get it buttoned up. Theoretically yes checks could be out before the election but personally I think it’s too late to have a political impact. Trump is an idiot for not doing this two months ago.
 
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Wreckem

Diamond Member
Sep 23, 2006
9,059
435
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A lot of this is already written and they could stay the weekend to get it buttoned up. Theoretically yes checks could be out before the election but personally I think it’s too late to have a political impact. Trump is an idiot for not doing this two months ago.
The issue will be the grandstanding by Paul, Cruz, Cotton et al.
 

UNCjigga

Lifer
Dec 12, 2000
22,531
4,699
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It seems Donald Trump can’t be bothered to sign the CR sitting on his desk, so the government may shut down at midnight tonight.

Well, that’s one way to get around a court order to keep the census going...
 

nickqt

Diamond Member
Jan 15, 2015
6,023
4,087
136
So easy.

$10,000 to every adult US citizen, no means testing.

Costs $1.8T, 1/3 of what's already been spent, and probably about the same as might be done soon.

Helps the poor. Helps the working class. Helps the middle class. Helps the upper class. Helps small business. Helps large business. Helps corporations. Helps banks.

The problem: almost every dollar goes to average Americans FIRST, before being siphoned through corporations and banks. That would allow Americans the ability to decrease their vulnerability to the oligarchs who own and operate the country. So, instead, OUR tax dollars get siphoned through banks and corporations first, and we get a few crumbs allowing the oligarchs to keep their leverage over Americans.
 

Ken g6

Programming Moderator, Elite Member
Moderator
Dec 11, 1999
15,190
2,168
55
So easy.

$10,000 to every adult US citizen, no means testing.

Costs $1.8T, 1/3 of what's already been spent, and probably about the same as might be done soon.

Helps the poor. Helps the working class. Helps the middle class. Helps the upper class. Helps small business. Helps large business. Helps corporations. Helps banks.

The problem: almost every dollar goes to average Americans FIRST, before being siphoned through corporations and banks. That would allow Americans the ability to decrease their vulnerability to the oligarchs who own and operate the country. So, instead, OUR tax dollars get siphoned through banks and corporations first, and we get a few crumbs allowing the oligarchs to keep their leverage over Americans.
Sounds nice. But apparently part of the plan is to keep business relationships going, employee to business and between businesses, so they can jump back in once the pandemic is over.

It sounds to me, though, like that may take longer than the government can support the system. In any way. :(
 

nickqt

Diamond Member
Jan 15, 2015
6,023
4,087
136
Sounds nice. But apparently part of the plan is to keep business relationships going, employee to business and between businesses, so they can jump back in once the pandemic is over.

It sounds to me, though, like that may take longer than the government can support the system. In any way. :(
Give $10,000 to most Americans, and they're either going to pay off debt (banks), purchase durable goods (corporations), or purchase services (corporations).

For independent businesses, this means either sales, or at least cash to keep revolving credit paid. I'd call that business relationships.

Again, the reason why we all haven't just been given $10,000 to pay rent/mortgage/utilities/groceries/debt, is that doing so would decrease leverage that oligarchs currently have over most Americans. The oligarchs will invent and scream a thousand excuses, but that's the real reason.

The problem is that money isn't moving. Solution: move money.
 

Wreckem

Diamond Member
Sep 23, 2006
9,059
435
126
Give $10,000 to most Americans, and they're either going to pay off debt (banks), purchase durable goods (corporations), or purchase services (corporations).

For independent businesses, this means either sales, or at least cash to keep revolving credit paid. I'd call that business relationships.

Again, the reason why we all haven't just been given $10,000 to pay rent/mortgage/utilities/groceries/debt, is that doing so would decrease leverage that oligarchs currently have over most Americans. The oligarchs will invent and scream a thousand excuses, but that's the real reason.

The problem is that money isn't moving. Solution: move money.
Main Street and the labor market would have recovered quicker if we did what you suggestedvs what we did. The Fed propped up the stock market. We could have proped up Main Street and everything else which would have prop up Wall Street but the fat cats wanted their money and the worst transfer of wealth in US History.

All told my wife and I will have received $15000 in benefits from the Covid packages. $2400 in direct payments and ten months of student loan deferments that count towards our 120 PSLF payments. We have sunk everything back into the economy... as would most people.
 

Zorba

Diamond Member
Oct 22, 1999
7,808
1,697
136
Earlier in the day it did look like something might happen. As of now airlines have already sent out lists/notifications and have told effects employees to turn in their badges tomorrow.

At this point even if an agreement is reached tomorrow it will be atleast a week out minimum for it to pass and signed into law. Which means a second round checks won’t be sent out in time before the election.
At least American already let a ton of people go back in July and just paid them through Sept 30 as severance. A lot of those people aren't coming back regardless of any new deal.

A national mask order would be the best way to prevent more layoffs.
 

Wreckem

Diamond Member
Sep 23, 2006
9,059
435
126
Well 32,000 people between United and American lost their jobs this morning. The airlines have started the process because it does not appear anything is going to happen because the GOP still refuses to budge.

Expect an afternoon House vote on the $2.2trillion HEROS Bill. The GOP will continue to dither.

I’ve already had multiple flight change notifications for multiple flights booked through next Spring.
 

Wreckem

Diamond Member
Sep 23, 2006
9,059
435
126
At least American already let a ton of people go back in July and just paid them through Sept 30 as severance. A lot of those people aren't coming back regardless of any new deal.

A national mask order would be the best way to prevent more layoffs.
These numbers are on top of those numebers.
 

K1052

Lifer
Aug 21, 2003
35,157
8,464
136
Well 32,000 people between United and American lost their jobs this morning. The airlines have started the process because it does not appear anything is going to happen because the GOP still refuses to budge.

Expect an afternoon House vote on the $2.2trillion HEROS Bill. The GOP will continue to dither.
I'm not saying it's going to happen but the admin's new offer is up substantially to 1.62T while the House came down form 3.2 to 2.2. Less than 600B separates them and if you meet in near-ish the middle it's still just under 2T.
 

Zorba

Diamond Member
Oct 22, 1999
7,808
1,697
136
These numbers are on top of those numebers.
No they aren't. No one officially laid off before today. But their last day in the office was a few months ago.

The Disney people were all already on Furlough, too, this just makes them "permanent."
 

Wreckem

Diamond Member
Sep 23, 2006
9,059
435
126
No they aren't. No one officially laid off before today. But their last day in the office was a few months ago.

The Disney people were all already on Furlough, too, this just makes them "permanent."
What I was saying is these 19000 layoffs today are on top of the other cuts through other means. AA is cutting a total of 40,000 positions, it is not just these 19,000.

As for Disney, they cut people who returned not just those on furlough.
 

MtnMan

Diamond Member
Jul 27, 2004
4,299
2,248
136
Republicans torpedoed additional stimulus so mass layoffs appear inevitable.
And when eviction protections expire, it is going to be fucking ugly. We will officially be a 3rd world country.

And I can't really condemn landlords, they have expenses, loans, mortgages, utilities, insurance, etc., etc. The bank, creditors, insurance companies, utility companies, etc., also want their money.

I'm lucky, I own outright two homes. I have a stable income to pay utilities, insurance, etc. I rent the other home to family, who also has stable income to pay what I do charge, strictly to cover taxes, insurance, etc.
 

lsd

Golden Member
Sep 26, 2000
1,163
25
91
Well 32,000 people between United and American lost their jobs this morning. The airlines have started the process because it does not appear anything is going to happen because the GOP still refuses to budge.

Expect an afternoon House vote on the $2.2trillion HEROS Bill. The GOP will continue to dither.

I’ve already had multiple flight change notifications for multiple flights booked through next Spring.
And a shameful amount of those let go will go off to the polls and vote republican. Union member or not they will vote straight republican. Been in the airlines for over 20 years, the amount of stupidity is astounding.
 

K1052

Lifer
Aug 21, 2003
35,157
8,464
136
Pelosi says that her and the admin are reaching an agreement on a standalone airline aid package and to halt their furloughs.
 

Homerboy

Lifer
Mar 1, 2000
28,920
2,627
126
I mean I know the "answer" but I never understand where this money comes from...
*sigh*
 

K1052

Lifer
Aug 21, 2003
35,157
8,464
136
Mnuchin apparently warning GOP senators that they're not going to like all the state/local money. Conservative angst at a big spending deal growing. Not much they can do to stop it though.
 

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