Layoffs / Cut Hours

[Willygt]

On our company there are rumors that a lay off is coming. We really dont know if it is really coming and who is on the list, we can just hope for the best.

Back in Mexicali there has been several big companies having to cut off complete shifts (Kenworth cut the second shift with about 800 people), and other have been completly shut off. This is affecting us big time, but as some say, when 1 door closes another 2 open.

[AAlmeter]

Good luck everyone. Was laid off on Halloween and have received two offers since then. Unfortunately both offers have been dependent on the firms landing specific contracts for projects....and with many projects being delayed/canceled, it ain't easy.

Sadly, I think it's going to get worse before it gets better. Strap on your helmets!

[Blueface]

Originally Posted by TripleF

Sales are reeeeeeeeeeeeeeal slow for me so I got a part time job at a cigar bar back around Labor Day. That's been holding us even with the water line.

What I don't like, is no one sems to be forecasting "a turn", only hoping "a turn" will happen.

Eliminate debt if you can.

Originally Posted by ChasDen

Good advice but bad for the economy

Paying off debt doesn't put money back into the economy, it puts it back into the hands of lenders who tightened the money lending.

Double edged sword that helps but also hurts.

Chas

Originally Posted by Tombstone

Think about yourself. Payoff all Debt. Who cares about how it effects the economy. Take care of yourself then worry about the economy.

Just be careful what debt you eliminate.
Any good analyst will tell you there are two kinds of debt.
One where they have you by the cojones and the ramifications can have you living in the streets. That would be your mortgage.
The other is one that the worse that can happen is your credit goes to the gutter but will someday recover and you don't have to go sleep in the streets. That would be credit cards.

If one can live debt free, that is awesome. Buy with cash and stimulate the economy that way. Don't buy what you can't pay right away.

However, if one should have to choose, pay your mortgage first, screw the credit cards.

DON'T refinance your home to pay off credit card debt and automobiles. NEVER do that. If you do, you have converted that credit card debt that they could not take your house away for into the debt of your home, which you can now lose. NEVER use equity in your home to pay bad debt. Always refinance your home ONLY to lower your mortgage, to help you pay the house off faster and reduce interest charges.

Simple rules I try to live by.

[GoatLocker]

Originally Posted by Blueface

DON'T refinance your home to pay off credit card debt and automobiles. NEVER do that. If you do, you have converted that credit card debt that they could not take your house away for into the debt of your home, which you can now lose. NEVER use equity in your home to pay bad debt. Always refinance your home ONLY to lower your mortgage, to help you pay the house off faster and reduce interest charges.

Converting short term debt to long term debt is rarely a good idea... Unfortunately, too many people use credit to buy things they can't afford. One of the reasons we're in this mess to begin with

Originally Posted by GoatLocker

Converting short term debt to long term debt is rarely a good idea... Unfortunately, too many people use credit to buy things they can't afford. One of the reasons we're in this mess to begin with

Looks like next week is the start of the 4 day weeks.

Fridays are now X'd off the schedule.

3 Day weekends in the wood shop

Chas

[alley00p]

Sorry to hear the news, Chas!

Here in Michigan, the bad ecomony has led to declines in State Funds to all public libraries. This means that all of my libraries in my cooperative are having to cut back by laying off workers, cutting their budgets to buy new books and reduce service hours. Our largest library has decided to pull out of the cooperative in order to "save money".

While that won't affect my job right away, we are also looking at a shortfall in funds, which may require cutting hours for some of our workers sometime down the road.

I hope it will get better soon, but given the current conditions in the US and the rest of the world, I'm not holding my breath.

I've been out of a job since October. EDD & DJing has kept me my family afloat. I miss having a job. On the other hand, i get to hang out with my son everyday (after he gets out of Kinder of course). Hang in there fellas!