I survived yet another round of lay-offs. (1 Viewer)

[Ross Williams]

This was the 4th or 5th time that my company has laid people off. The last time was over a year ago. We had been lulled into a false sense of security, it seemed like we were doing better, and then the ax came down yesterday. My best friend here and cubicle neighbor was one of them. He was one of the only reasons I could still stand to come in. I don't know what I have to look forward to now.
I really wish I had been one of those let go. I could have got a nice big severance check and a paid (unemployment) vacation. But now I've got to keep working. I'm just waiting for that ax to fall again. I'm just really hoping that when it finally does, that there is still money for my severance check. I'm afraid there isn't even going to be enough for my final paycheck.
I'd get out of here now, but the job market in Seattle is crap right now, and I don't have many skills applicable outside this job. I'd have to take something much lower paying, probably worse than what I could make on unemployment. And I want that severance check.
When is it going to be my time?!

 

[KyleS]

It really sucks when you have to wait around to lose your job. My advice is to either work your ass of so you dont get the axe and so the company will possibly do better OR start looking as fast as you can for other jobs that may come close to what you are making.

Best of luck the job markets suck all over.

KyleS

 

[Howard Williams]

Ross, unfortunatley I am in almost the exact same position as you. Last year I worried myself until I was actually physically sick. I swore I would never do that again. When the lastest cuts came just last week, I still stressed but not like last year. As wierd as it sounds, part of wishes I had been in the very first group to get laid off years ago since the severence packages gets less and less attractive with each round.

I wish you the best of luck.

 

[Ross Williams]

I feel stuck. Looking for a decent new job in this city is crazy. I read something like there was an average of 500 applicants for every job offered. I'd probably be lucky if I found something that paid 2/3rd's of what I'm making now. So for now, here I stay.

We're at the point where the company is going to go out of business before there's another round of lay-offs. Anybody have any experience with that? I'm expecting to get nothing out of that situation.

The latest rumor is that they're trying to sell the company. Anybody know what happens to a companies stock when it's bought out?

 

[KyleS]

Yes I experienced almost exactly that when I was working for a company in Las Vegas. The company didnt let anyone know that funding was a problem until one day they let pretty much 90% of the work force go without any severence. I had to actually sue the company to get them to fulfill my contract. Heck I was told that if I won that they may not have the money to pay me but I really didnt care it was the principle of it all. Lucky for me after suing and winning against the company I was able to file a writ and have the money pulled from their accounts (they did have enough to pay what a coincidence).

There is nothing wrong with applying for everything within site and going on interviews especially if this company is doing that bad. Its better to have a backup plan now then nothing when the shit starts to hit the fan and they go under. So get out and beat the job path who knows you may find a job that you enjoy more that pays better.

KyleS

 

[Ted Lee]

i work for a very large computer/printer company that is currently merging with another computer behemoth (now that'll be hard to figure out :rolleyes).
needless to say layoffs are abounding. they just laid off 4 people in my group in the last two weeks.
i just have to grin and bear it and do my job as well as i can. i've survived layoffs before (i closed packard bell) and have survivied for two years here, so i must be doing something okay.
i've decided i can't and won't worry about it. it's not like there's anything i can do anyway. i just try not to piss anyone off and duck whenever the boss rounds the corner.

 

[MarcVH]

I assume that you're talking about a company which is privately held. It depends on the deal, but in this economy with a company seeking to get bought to prevent going under I wouldn't expect much. Even if a buyer can be found, most of the money will probably go to repay the VCs who funded you in the first place, with common stockholders getting little or nothing. If you're a shareholder you should have the right to find out this kind of information (e.g. are your shares common? what other classes of shares are there? do they enjoy superior liquidation rights?)

 

[John_E]

Ted-

I work for the same unidentified company, and I seem to have survived as well. I work for the Direct part of the business as an Account Manager.

Good luck to you!

John

 

[Ted Lee]

howdy john! good luck to you too...if you ever come to the roseville plant let me know!

 

[David Sanchez]

Just got laid off from that giant soft drink company who's signature beverage goes quite well with Rum and Jack Daniels. Anyway, I was only there for a year. Four months after I started my position went away and rumors of layoffs were ramp-id. Took almost 10 months for it to happen.
Now I just hang on street corners starting trouble. It kind of sucks, but it's better than staying home and watching daytime TV.