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The economy is crunchy, but it's not the huge mess that it could be.

Unfortunately, people are panicking.

The Mothership (i.e. parent company) makes the significant portion of its money in luxury electronics. Our division the division I used to work in is an entirely different market, one that is more heavily funded during times of economic stress (think medical and research). Today I heard how far off of plan the company was financially, and it's a very big number. What I didn't count on was that the mothership would be squeezing the tentacles of the divisions kinda hard to cut back on expenses overall.

None of that matters, other than as fair warning of potential job losses pretty much anywhere. What's done is done, and better now than two months from now.

I'm not married, I don't have a family to support, I have a very technically advanced resume and some mad skillz, and I was a contractor for ten years prior to hooking up at the ex-company. This theoretically makes me more resilient and more likely to get another job soon.

Theoretically.

I saw my PM break down today. We hired him on after he had been laid off from 3M about two years ago, and the trauma of that layoff kinda came back in on him. I think he's probably scared more than anything; this probably isn't going to be the last of the layoffs.

I think I'm gonna lay down for a while.

Comments

( 4 comments — Leave a comment )
ms_tek
Oct. 15th, 2008 09:00 pm (UTC)
Lay offs are terrible.

Maybe that is why I am not freaking out as much this time as the last time. I've been smart enough to keep a buffer (however small that is) so that if I lost my job tomorrow, I won't lose my apartment, and I can still go to school.

I need to chill out on buying stocks with that money though. I bought copper shares today. At $11 a share, down from $47 a share historical? I couldn't pass it up. Like when is the need for copper EVER going to go away?

Bell never knew the monster he created in telecom.
4dramatic_flair
Oct. 15th, 2008 09:03 pm (UTC)
I'm sorry. That sucks big time. Fuckers!!!

theophania_79
Oct. 15th, 2008 09:27 pm (UTC)
This is so shibby. :(
loba
Oct. 17th, 2008 06:11 am (UTC)
**sends more hugs**
( 4 comments — Leave a comment )

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