Anybody else getting laid off?

[Moki]

My last day is tomorrow but I have known about it for 6 months. We started a small business that got acquired 3 years ago, but the acquiring company is moving our product to Israel. I am not unhappy about it, my fellow co-founders and I are starting another small business. I prefer working for myself and the small business culture. I hope that we can overcome the new Obama tax.

[LovinPowell]

You and I know that it will all work out for the best. What kind of business are you going to start?

If I can help in any way, just let me know.

LP

[chpthril]

Sorry to hear, good luck in the new venture, I know you will do well.

[Moki]

You and I know that it will all work out for the best. What kind of business are you going to start?

If I can help in any way, just let me know.

LP

It will be another software company focused on self service tools

Sorry to hear, good luck in the new venture, I know you will do well.

Don't be sorry, I am actually thrilled to be starting something new but thanks for the well wishes.

I knew about this when the economy was strong, but I am wondering how many jobs will be lost due the credit crisis. Economic downturns are actually a good time to start a new business. Labor is typically easier to find and it gives you a chance to get your business ramped up to catch the upswing.

[xpjim1]

I am supposed to hear by Dec 1 what my fate is. Hopefully the acquiring company will keep me.

[sparky216]

Wow....good luck to everyone. My wife and I are in pretty recession proof jobs, were both in medicine....me in human and her in animal.

[sparky216]

I am supposed to hear by Dec 1 what my fate is. Hopefully the acquiring company will keep me.

The worst must be just not knowing.

[xpjim1]

The worst must be just not knowing.

Yep, I agree. I am in a pretty good spot with my severence package since I have been there 22 years. Will be hard to find similar job but there will be many more in a worse position than I might be in.

[LovinPowell]

It will be another software company focused on self service tools

What kind of "self service tools" That seems like a very generic term. Kind of like a community organizer.

[ragboy]

It will be another software company focused on self service tools

Don't be sorry, I am actually thrilled to be starting something new but thanks for the well wishes.

I knew about this when the economy was strong, but I am wondering how many jobs will be lost due the credit crisis. Economic downturns are actually a good time to start a new business. Labor is typically easier to find and it gives you a chance to get your business ramped up to catch the upswing.

Hopefully you made out well enough with the sale you get to enjoy the new venture. I am also finding labor getting much easier to find.

[Moki]

What kind of "self service tools" That seems like a very generic term. Kind of like a community organizer.

We have focused on service desks within corporations, so we are creating a self service portal where an employee can resolve his/her own issue without calling the service desk when they have a computer problem.

I am supposed to hear by Dec 1 what my fate is. Hopefully the acquiring company will keep me.

Jim, I know that your toast will land butter side up whether you stay or move on.

Hopefully you made out well enough with the sale you get to enjoy the new venture. I am also finding labor getting much easier to find.

We did well and it is allowing us to fund this new adventure. I do have a lot invested in real estate. Luckily, I bought early enough and prices have not fallen that much in Utah. Congratulations on your patent by the way, that brings a lot of value to your business.

[da.bell]

Wow!!!!! There can be great rewards owning your own business. PM me if you need a Small Business Loan. I personally can't loan the money but can can ask my co-workers which Certified Development Company in Utah is the best one so you can get help. Okay, yes I do work with the U.S. Small Business Administration in the Loan Guaranty Program as a database programmer.

[skyski_tige]

Hopefully not, but my company cut revenue projects by 30%

[raythompson]

I have been laid off three times in my career. Each time was not pleasant.

1. I worked for a larger commercial bank in San Antonio. The IT department was acquired by MTech. After three weeks I was told I had to cut my staff from 11 to 5. That was most unpleasant. About six months later the handwriting was on the wall and I got the notice. I found another job in two days 1100 miles away.

2. Worked at the new job for six years. It was a contract job with the US Navy. We were told after 5.5 years that the contract would not be renewed and awarded to another company. The award was crooked and corrupt from the start but nothing could be done (we did try). 35 people lost their jobs. It took 5 months to find another job but survived with unemployment and having the advance warning.

3. Went to work at another contract position. (You would think I would learn). That lasted four years until the contract expired. Myself along with 5 others no longer had work and were of no use to the company. It was an employee owned company but you apparently did not own enough and could be terminated. Employee ownership companies are a scam that only benefit the upper echelon, a ponzi scheme endorsed by the laws. I had a new job lined up and took it when I was let go.

The biggest thing when getting laid off is to get all your benefits possible. If you have vacation time do not take a payout but continue to be on the payroll. This extends insurance a few weeks. Apply for unemployment immediately and don't let pride get in your way.

Stay happy. Take a few days downtime and travel somewhere for a few days. Yes it will cost but it will help you get past the initial shock. Staying happy and positive is really important.

Network with friends and known contacts for possible openings. Don't be afraid to take a job that will hold you over for a small time even if it is out of your field.

And always be prepared. I prepared by eliminating all credit card debt. I paid off any loans I could to reduce my debt. I stashed away six months worth of living cash and still maintain a one year reserve. You don't need to be worrying about money when you are looking for a job. Having reduced debt and money to live on significantly reduces the stress level.

[chadster2]

I'm on about 50% income.. all my construction is gone for now.
the rest is firefighting or gov. work, so it's safe for now.
It's all about having some set aside. I'm still getting by but next
go around I'll store more. The boat is waxed and gassed and in the garage.
Ready to go. If it gets back above 75, I'll be out there.

I've got friends in construction suffering
and I hate seeing it.
I hate pulling my boat through my neighborhood past all the jobless neighbors.
I know most the kids by name and I see their dads riding their bikes to
work.
(to make pizza or with a weed eater on their back, to pay the bills.)