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How do you rate your job security in the current economic climate???

By sleepin'dawg ·
The auto industry tanking and asking for bailouts. Banks going under. Tech companies like Nortel filing for Chapter 11. The housing industry is in a shambles as well as the mortgage industry. The dreaded "D" word is being mentioned. Unemployment is on the rise. 2.5 million permanent jobs have been lost with many more expected before the end of June. Unemployment ran at 20% during the depression and some current projections are saying we might hit as high as 25 - 30% before the year end. Will your job be one of those lost, for good???

So the questions are: How safe do you feel and what precautions are you taking??? What precautions are you not prepared to take??? How will you protect your assets from foreclosure and/or siezure???

Which approach do you prefer: The ostrich approach(head in the sand; it can't happen to me) or the whistling past the graveyard approach (the economy has me scared schitless but, I somehow hope I can survive)

Whichever way you're leaning, or not, now might be a good time to really give it some thought.

For what it's worth, I'm reasonably safe. Debt free, fully diversified and am considered suit proof by my lawyers (translation:you gotta be able to find it to sieze it)

Dawg ]:)

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How to rate Job Security

by The Scummy One In reply to How do you rate your job ...

Do what the boss says today -- and you may be allowed to return tomorrow

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Looks to be

by santeewelding In reply to How do you rate your job ...

Like it ain't on tracks, and it has the choice of taking any number of dirt roads.

Spells adventure.

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Talk about multilogical aplomb.

by boxfiddler Moderator In reply to Looks to be

Wake the comatose.

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I think my job/factory is pretty secure.

by DMambo In reply to How do you rate your job ...

But the fact that there are a lot of people out there looking makes me nervous in case things take a turn toward the dumpster.

The plant I work in is experiencing a local max for orders and we are actually hiring line workers now. We're a very small part of a large, global company. The way I see it, our little division is too profitable to consider putting at risk by moving offshore and we're too small for our expenses to have a significant impact on the overall corporate costs. We have most of the market share for our niche product, and we're sole source for most of our customers.

In the long run, if I can stay employed for another 10-12 years, my wife and I should be OK for retirement. At least I hope so!!!

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Depends

by GSG In reply to How do you rate your job ...

We have a leader who is nuts and likes to fire people. However, hope springs eternal that he won't be here much longer.

While I'm not so lucky as to be debt free, I will say that I don't carry a lot of debt. I only have my house and car (paid off in a year). I do have enough savings to live on for 6 months, 12 months if I go to bare essentials.

Meanwhile, I've been applying to other organizations. You never know, I might get lucky. A friend applied somewhere on a whim, and it turns out they had a position come open that they hadn't posted yet. He's getting a $10k raise to do something he's been trying to do for a while. Lucky duck.

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Reasonable but no one is immune

by JamesRL In reply to How do you rate your job ...

I was laid off after the tech bubble burst.

My position here is a little more secure. My team is needed to support hundreds of customers across the country.

There have been layoffs, but since the front line support people have been reduced, primarily through attrition over the past year. So the recent cuts were people near retirement who could be bridged, some redundant mid level and management positions.

I am paying down my CC debt, making things do, trying to contain expenses. I've also increased my mortgage payments to pay down the principle.

If I liquidated my retirement assets I could pay off all my debts except the mortgage, and I could reduce it to a small amount.

James

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Reasonable but no one is immune

by JamesRL In reply to How do you rate your job ...

I was laid off after the tech bubble burst.

My position here is a little more secure. My team is needed to support hundreds of customers across the country.

There have been layoffs, but since the front line support people have been reduced, primarily through attrition over the past year. So the recent cuts were people near retirement who could be bridged, some redundant mid level and management positions.

I am paying down my CC debt, making things do, trying to contain expenses. I've also increased my mortgage payments to pay down the principle.

If I liquidated my retirement assets I could pay off all my debts except the mortgage, and I could reduce it to a small amount.

James

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I think I'm ok...

by jmgarvin In reply to How do you rate your job ...

I work for a software development company and we seem to be in fair shape. With that being said, if this drags on, I'm going to be holding on tight....

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Job security = ZERO!

by Dr Dij In reply to How do you rate your job ...

I suppose, because I was laid off in June.

We were losing biz and clients related to housing and auto busts. I had lasted 6 years longer than I was originally hired for by diversifying my skills.

I did see it coming. Have little debt and have savings, my wife has a job that pays most of the bills, with little left over. We dip into savings for a small amount each month but will last a real long time unless the whole economy collapses. You need to then concentrate on 1) NOT SPENDING on anything that is not absolutely necessary. 2) small things that add up e.g. make healthful casseroles that will feed you for a week or more rather than pre-packaged food that costs alot more. other things like making your own coffee and taking it with you in a thermos rather than buying it when you're out.

We still go places, but take a sandwich and drinks in a cooler and 'slum it' by picnicking instead of buying food when out. We used to buy sandwiches at trader joes for outings, now a can of chicken, mixed with peppers, olives, capers, celery, seasoning will make about 6 sandwiches, feeds my wife at work lunch also for a week.

I'm doing some retraining to beef up my skills, becoming SME for certain industry, and maybe do some certs. I actually take a lunch and stay at the library some days from 10 to 3 or so. This forces you to concentrate on reading, without distractions. I then head over to the spa and work out for a bit. This clears my head and gets the nanobots going so I can read, study and do more courses in the evening. In two weeks I'll be taking courses 4 days a week from 9am to 9:30 PM. (reminder - fill up thermouse)

Local library has computer and industry specific books for twenty five cents to a dollar or two, instead of buying new. I've found A+ books, Cisco, programming tomes, all fairly recent (don't buy the real old ones) and DID renew my computer society membership. Incredible variety of computer training courses for next to nothing.

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Dij, you in the Bay Area???

by jmgarvin In reply to Job security = ZERO!

We're hiring:

http://www3.recruitingcenter.net/clients/frontrange/publicjobs/controller.cfm

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