Fear of being laid off

[LazyDaisy]

I have been with the same company for 11 years. Its a rather large company and in the past few years they have been cutting costs by eliminating positions and outsourcing many of the responsibilities.

 

I'm a single mom so there is only one income in the household. I live in constant fear of losing my job. I'm sure I could find another one but when I look at the salaries in my field most of the jobs advertised are at least $40k less than I am currently earning. I could not live on that and I would have to drastically change my lifestyle not to mention what that would do to my self esteem. I'm trying to save every penny I can in case this happens. I can't even enjoy my salary becuase I am just terrified of what I would do.

 

Do other people feel this way in this economy? Or are there people that feel secure in their jobs? Its getting so I don't trust anyone here. Maybe I am just with the wrong company.

[Nidania]

I'm a single mom, and the economy assisted with me getting laid off at the end of June. This was about 2 weeks after my employer told me that my position was safe.

 

I was devastated and terrified... I mean I had little in the way of savings, and there weren't any jobs that I could make even 1/3 of what I had been earning.

 

It can happen, but there is good news. There are all sorts of organizations out there that can help you if it ever does happen. It's been a humbling experience, but all of those tax dollars I paid while I was working are now coming back to me in the form of government assistance with the basics. I was fortunate enough to qualify for a program where all of my schooling would be paid for by the government, and I start in January.

 

I've had to make lifestyle changes, no doubt. I keep reminding myself that it is temporary, and I am taking steps towards a brighter, stable, secure future.

 

You're not alone in feeling this way LazyDaisy. I guess I'm just trying to give you a little hope that if it DOES happen, it's not the end of the world.

[ayekasong]

Well, I am currently unemployed, so I can't speak to the fears, but I imagine lots of people feel this way right now.

 

The best advice I ever got regarding my job was to never stop looking, even when you are employed. If you fear that you could be laid off soon, update your resume and keep your eyes and ears open for new opportunities. It sounds like you've done a little looking, but I would make it a daily habit. Chances are that right now the jobs posted are not going to have the salary that you want, but tomorrow that dream job with a dream salary could be posted. And even if you do start interviewing for other jobs, you don't have to take anything that is offered to you unless you feel that you are ready for that.

 

I don't know how serious I would get about actually searching for a job until there is a real danger that your job is on the line. I have never been laid off, but I am under the impression that they typically give you some sort of warning...I'm not sure if that's true.

[Nidania]

I have never been laid off, but I am under the impression that they typically give you some sort of warning...I'm not sure if that's true.

 

This is likely dependent on the company. My warning consisted of enough time for me to get a cup of tea, returning to my desk to begin my day, and seeing the HR manager standing there with a packet of papers.

[DontGetStung]

It's smart to have a plan and save your money, but it sounds like your letting something that hasn't happened drive you crazy. Worrying is like a rocking chair; gives you something to do but gets your nowhere. You've done what you can by saving your money. The only other thing you can do is look for a new job, which you've already done. It's easy for me to say but all you can really do now is go to work and relax. The worry has already caused a problem in your work environment, how long before it comes home too?

[LazyDaisy]

I'm sorry this is happened to you! I'm glad you are getting some assistance. It happended to me here 4 years ago - my job was eliminated but I found another position within the company. I just have this gut feeling that it is going to happen again. 4 years ago the economy was ok. Now its so bad. I guess I shouldn't worry about it until it happens. I am just afraid to spend any money! I need a new car badly but I don't want to have a monthly payment.

[lavenderdove]

Don't fear, plan!

 

If you have enough cash put away to cover 6 months to a year of your expenses, then you can rest easy because most people can find a job within a year, and usually less than that. So if you don't have a year's worth put away, scale back everywhere you can until you have that in the bank, then you can relax and think about things like a new car.

 

Being afraid has no benefit, but planning does. Just make sure you've planned for the worst case scenario (one year's unemployment), and you will be fine.

[LazyDaisy]

Don't fear, plan!

 

If you have enough cash put away to cover 6 months to a year of your expenses, then you can rest easy because most people can find a job within a year, and usually less than that. So if you don't have a year's worth put away, scale back everywhere you can until you have that in the bank, then you can relax and think about things like a new car.

 

Being afraid has no benefit, but planning does. Just make sure you've planned for the worst case scenario (one year's unemployment), and you will be fine.

 

Thanks. Some things have been happening at work and I really suspect that they are planning to eliminate my department in the next 6 months. I don't know why I feel like this is the only job I could be happy at. The fact is I'm not all that happy anyway. I will stay until they kick me out but I will bump up my savings.

[circi]

Thanks. Some things have been happening at work and I really suspect that they are planning to eliminate my department in the next 6 months. I don't know why I feel like this is the only job I could be happy at. The fact is I'm not all that happy anyway. I will stay until they kick me out but I will bump up my savings.

 

I just went through this myself, except I've been worried since January. I wasn't happy with the job itself but I love my co-workers and did not want to leave. I went job hunting out of fear, my heart was not really in it. Long story short, I just landed a job that I think I'll like more, with better money and better benefits. It will be really hard to leave my current job, but as a single parent I have to do what's best for me and my son.

 

Do NOT stay until they kick you out, start looking NOW. Since you don't really want to leave if you don't have to, only apply to things that will be a step up from where you are now. In this economy it's just not smart to wait and see what happens.

[ohemgee]

I would worry all the time for atleast a year before i got laid off. Everyone would tell me I was being irrational...Well it turned out I had reason to fear.

 

Currently I do not fear because im the only one doing what I do at my new company.

[Miss Firecracker]

Don't waste a minute worrying, but pack away all you can.

 

If you ever want specific advice, feel free to PM me. We have lived the nightmare and are making out just fine, thanks to a lot of hard work.

[Lonewing]

You mention you would have to drastically change your lifstyle if this layoff hit the fan - so do yourself a favor, and change your lifestyle NOW while you still have control!

 

You mention you want a new car. Now is this because your old car is unreliable, or is this because the old car is old and boring and just not exciting anymore? If your reasoning is all in the latter, and it is actually quite reliable or gets good mileage, then I'm sorry, but you're gonna have to stick to the old bucket of bolts. You think you have it bad? My car is a 1963 ford fairlane, it's rough but it carries me through!

 

I have weathered 3 layoffs in two years. The first time it was due to a budget cut for the research lab I worked in. I saw that layoff coming five months before it happened - I'm just good at acessing situations! I managed myself well, got myself into gradschool, and recieved the acceptance letter the same week I recieved the layoff paperwork. luckily, the Layoff gave me one year of free tuition at the university via severence!!!!!

 

The second layoff happened in October, and I KNEW it was going to happen before my Bosses did! I walked in on Friday, asking them if we still have a mine, and both bosses are enthusiastically positive. I walk in on Monday and my first boss is really glum [he got laid off that day too] and my senior boss is apologizing and groveling and down in the dumps too. But I smiled and took it like a champ! My senior boss helped me out though, and found me another job with an old friend here in town.

 

The third layoff happened on what was a small part time job; as soon as December 31st ended the budget for that project was no more. So, June 22nd, 2007, October 21th, 2008, and December 31st, 2008 each became a layoff date for me.

 

It didn't help that my Ex freaked out and cracked on me around Otober 15th and told me she couldn't marry me or have a child with me or be with me forever...man, what a bad year 2008 was!!! Here's to the Air Firce making 2009 end on a bright note! I leave on Monday!

 

The point of this whole matter is, if you know the situation is bad, it probably is. If you dont take steps now to insulate yourself form the catastrophe, even though you knew it was going to happen, you are at your own mercy. Act now and you will be all the more happy! Perhaps you do have to make some changes to your lifestyle - so MAKE them!!

 

Good luck in the job search!

[renaissancewoman101]

Lonewing, I think you are being a bit too "worst case scenario".

 

If she has some money saved up, I don't see why she has to cut back drastically. Maybe a little bit of cutting back will help.

 

As for a new car, if she think she can swing the payments, etc., then go for it. From the OP's perspective, it seems her current car is falling apart or not performing well for her. Due to the economy, now is one of the best times to buy a new car, good loan rates and dealers are willing to bargain. It is a buyer's market.

[Lonewing]

My life has been the worst case scenario every turn of the way, anythign that I have is because I made it happen. But even then I have to bank on the worst case scenario because I have seen it come true far too many times.

 

The solution is to take proactive steps to mitigate and minimize all potential damage of a future watershed break. the rainy day fund, for instance, is great, if you can build one. Mine has been exhausted so many times but I have gotten through by my own willingness. I lived on $300 a month for the first 6 months of this year. Granted, I had help with the rent, and that help a ton, but I had options and I used them as I needed to.

 

Hope for the best, pray for the worst - and never say Never. The worst case scenario CAN happen. So either you turn a blind eye to the storm or you aim your ship right at the eye of the storm and you ride her out!!!

[SnowFox]

I would say you should do what you're doing - increase your savings, try cutting back on non-essentials NOW so if you do lose your job the blow won't be as bad, update your resume, start making a list of networking contacts and maybe even just get in touch with them, drop an email or something, so the pump is primed if you do get laid off.

 

Hopefully you won't, but if you channel your anxiety into concrete actions, it will help focus your mind as well as get you prepared well ahead of time if in fact your suspicions are correct.

 

Good luck!

[LazyDaisy]

Thanks everyone. I can't leave on my own because then I would have to pay back all the money they gave me for grad school and I don't want to do that. Plus if I get let go I will get severance. It happened to me 4 years ago but I was able to find another position in the company. I do save but I have a heafty mortgage and I just refinanced so if I were to sell my house I would lose so much money. If I continue to work i'm fine, but if I lost my job and had to live on unemployment I wouldn't be able to pay my bills for too long.

I have always had to struggle to meet my bills. I am finally in a position where I am comfortable and I feel like I can't enjoy it becasue of what might happen. I will try not to worry about it.