For those effected it's gut wrenching. A real kick in the nuts. Hit the ground running as others companies are hiring. In time all will be well, as hard as it may seem to believe.

'09, very bad for our company.

Boss called us all into the big room with the nice chairs. Announced lay-offs, 20% pay cuts for everybody else, no more matching 401K, all paid leave/vacation had to be taken followed by mandatory unpaid 2 week furlough for the entire company, including president and CEO. Stock tanked very soon thereafter.

I had two decisions to make; where to spend my time off and how many shares to buy at less than $1.00. A few years later, all good, everything back the way it was with a company that was more lean and profitable. It traded for $145.00 yesterday.

The Puppet Masters (Swamp) will force the Fed to lower interest rates and gas prices while continuing with their BS rhetoric on blaming President Trump and the Republicans for the countries woes.
I have said this many months ago that the stock market is somehow artificially inflated by the swamp for political (votes) purposes.

If the DemoRats are able to steal the election again in 2024, this country will go to Hell in a hand basket right after that.

Yes but now there are even MORE people moving here. Houses, apts, schools......etc. The other thing we have going for us is the amount of big biz that has come to our state since then. Charles schwab, toyota, state farm, tesla, dell, oracle.....the list goes on.

No sir, true to your dumba$$ form as usual

I did same thing in 09. we lucked out I only had to let go of one person on my team that year.

Buy when people are worried, sell when they're not. Worked for me.

Source is internal and competition. civilian as in consulting services/contractors (engineering/IT, etc)

Military has layoffs, too. QMP and QSP. Cut the “middle” out, replace you with younger, healthier, cheaper labor. Save money on pensions and retirement benefits.

The morning Job report.

U.S. economy adds 275,000 jobs in February, above 198,000 forecast

U.S. unemployment rate rises to 3.9% in February from 3.7%

The Dec and Jan jobs report was revised lower but still not bad numbers after the revision. There are of course a hundred ways to break the rest of it down like what areas increased jobs and what areas cut jobs, could cause the feds to wait longer to lower rates or not, low wage growth, and more. More than enough good and bad points for market experts to spin it good or bad depending on what kind of books they publish. The main thing is the sky is not falling.

Watch the real earnings reports and forecast, not stock prices
Dive in and watch American segment performance


general - adecco, manpower, robert half

services- NTT data, Accenture, Cap Gemni, ASGN

The stock market is high due to 6 trillion dollars conjured out of thin air and injected into the economy, in my opinion. That is one reason why industrial stocks are higher than they have been in recent years. Once that money runs through the system, I expect things to get ugly.

Soooo, your mad at me because the economy has been artificial for the last 4 years, and now it's time to pay the piper?

The government screwed things up, and pumped tons of money into the economy...... printing money out of thin air, and you expect a soft landing? You think this ends nicely?

No I’m mad because you crawl out from under your rock everyday and keep showing up

The jobs numbers they are reporting are crap. Feb jobs report adds 275k (until the revision that no one remembers) yet unemployment rose from 3.7% to 3.9%.

January jobs report revised from 353k to 229k. A 35% reduction…really???

Dec jobs report also revised from 333k to 290k.

The big layoff cycle seems to happen about every 5-6 years or so? Been in industry since 1989.

People like Dave Davidson on here have sure helped a lot of people with the transition.

Right...they get rid of the folks that do NOT meet the standards. I would not call that a layoff.

They've had to heavily 'revise' the lie every month that FJB has been in office.

Yep, been that way for years, even under Obammy

I've never seen QSP used that I can recall. QMP is for NCOs with UCMJ, DUI, GOMOR, etc. IME, the vast majority needed to go home, although the Army did lose some of the best NCOs simply because they had something derogatory in their file from many years before. During the RIFs back in 2013-2015, they boarded all officers and those who didn't make the cut with a strong enough file were shown the door, and it wasn't pretty or pleasant. Was serving with an officer in AFG who was cut and immediately redeployed to outprocess the Army.

https://www.armytimes.com/news/your-army/2015/12/08/ncos-to-be-screened-by-three-qmp-boards-in-2016/



Ah, contractors. Unfortunately, that's the nature of the beast... by definition they're inherently temporary. Contracts have start and end dates and I've never spoken to one who wasn't aware that their contract may not be renewed (for a range of factors, but again it doesn't help when Congress won't pass a budget). Lots of floating between being a contractor and DoD/DA civilian jobs too. Doesn't make it any easier or take away the sting.

Exactly. IME, everytime we got rid of the dead weight. One round, we cut 3 "administrative assistants" as part of the RIF. All they did was BS, gossip, stir up trouble and spend most of their time selling Mary Kay make up. Technology caught up with them. Funny thing, they got canned, were not replaced and nobody missed them.

Things are gonna get worse. Biden, with the able assistance of Congress, has looted the economy with all of the build back and build back better programs/scams.

INFLATION!!
The $ that we have put into Social Security won’t be enough to get along on in retirement. Look at your grocery bill, real estate values/taxes, etc. It’s all inflated and yet the $ put aside in all kind of retirement accounts, isn’t. That’s in constant dollars.

Look at rents, auto prices, food,etc. The $ doesn’t stretch as far. My home that I bought 25 years ago has inflated/doubled/tripled in value and taxes. And yet, it’s still only shelter. A new pickup truck can run from $65,000 to $75,000. How are salaries in comparison?

I expect a lot of layoffs. Take a good look at your cash flow vs monthly expenses. Start planning and get defensive. Some of us old guys have been here before.

Truth be told, most every corporate entity has too many people. From personal observation, it takes about 5 years to,go from a lean mean business to a bloated organization. Everybody wants their own team, so they hire an assistant. In a short 5 years, a substantial gross profit gets eaten up to the point there is no longer an acceptable return. They then hire consultants to tell them what they are doing wrong. The only answer is to cut overhead, but they rarely do that.

In 1990 I hired on to Texaco Chemical. They were the perfect example of being a bloated organization. Few people really did anything. They were bleeding money. Scared the crap out of me when I realized how poorly it was run. But in 1994 we were bought by a true lean mean company that got rid of everyone that didn’t bring something to the table. I survived the purge and was given a job to take over a function, run it, and do it with about 50% of the existing staff. Deep down, I didn’t think it would be possible, but it was. Until I dug into who did what and why, I thought everyone had a task. But they didn’t. I started running my group with about 60 people and retired doing it with 15 really good people.

It’s the overhead that kills a company, and the overhead is people. If companies are laying off people, they are worried about the future and trying now to do more with less. It’s the part about worrying about the future that worries me.

I date back to using slide rules. I predate computers. I’ve seen a lot. Technology keeps screaming along, and more can be done with less now. I went from not knowing what a computer was to selling software I wrote. The world keeps changing.

I remember slide rules but you don’t predate computers. The first working one was the Eniac in the early 1940’s. I got into them in 1964, in the USAF. In those days we worked in Data Processing which became IT. We had a 4k IBM 1401 EAM (electric accounting machine) using punched cards. My phone will do a lot more than that it did.