Layoff Everywhere
Career October 30th. 2008, 12:03pm
(Picture is from Wikipedia.)
I hope you agree with me. October 2008 is just a disaster for many of us. I read news about lay-off almost everyday. Here are some of them:
- American Express to cut 10% of work force, or 7,000 jobs (MarketWatch, October 30)
- Time Inc. plans about 600 layoffs (New York Times, October 28)
- Chrysler to slash up to 5,000 jobs worldwide by year-end (AFP, October 24)
- Xerox slashes jobs as sales slow – Copier giants cuts 3,000 positions amid weakness in commercial-printing business(Wall Street Journal, October 24)
- Yahoo to cut headcount “at least” 10 percent; possibly more to come next year (TechCrunch, October 21). The number 10% is around 1,500 employees.
- Goldman Sachs to sack 10 percent of workforce (The Register, October 23). The number 10% is around 3,260 employees.
We can expect more and more layoff news coming in the next couple of months.
Am I nervous? Yes, indeed. The layoff may happen to me at any time. Two of my friends in Vancouver have just got laid off recently.
Anything impossible may become possible now. Some people said this is going to be the worst recession after Great Depression.
October 31st, 2008 at 12:45 am
for the past few months, lay-offs are happening in almost all advertising agencies in the US because the brand owners/advertisers cut their marketing spending.
this global financial downfall is horrible.
Godspeed. May the force be with you
November 1st, 2008 at 10:12 am
@soyuz: Is this Abigail’s friend in Japan?
Actually, not only advertising, even IT industry got affected. Many financial companies cut spending also on IT department.
November 2nd, 2008 at 6:37 pm
hmm…everyone has to get prepared. but i don’t think that’s the end of world. There are several things one can do after laid off:
-get another degree
-develop a hobby
-explore other field
-travel to another country and start a new life there
The worst case is to find another job and get laid off once again=P
November 2nd, 2008 at 6:42 pm
@siuju: You are right. There many things we can do after lay-off. The thing is our bills are still coming… who is going to pay the bill???
November 18th, 2008 at 5:16 pm
[...] is a follow-up to my previous posting, Layoff Everywhere. I have compiled five signs that might help to determine whether you will be laid-off soon or [...]