I know more people out of work right now...

17,808 Views | 188 Replies | Last: 7 days ago by LMCane
Athanasius
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than I ever have before. It's staggering.

And the ones getting jobs are taking massive pay cuts.

I think we are in for a very bad few years.

Who's bullish? Why?

samurai_science
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Athanasius said:

than I ever have before. It's staggering.

And the ones getting jobs are taking massive pay cuts.

I think we are in for a very bad few years.

Who's bullish? Why?



First Time?
ntxVol
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I work in an industry that's mostly recession proof, no real worries here.
Aggie95
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Athanasius said:

than I ever have before. It's staggering.

And the ones getting jobs are taking massive pay cuts.

I think we are in for a very bad few years.

Who's bullish? Why?




It's not all terrible although I 100% understand the concern. Looking at LinkedIn is a nightmare right now…tons of people posting they were recently laid off.

Ray of hope - I lost my job end of August. I have had 3 offers that all were within approximately 10-15% off pay. The one I accepted and start next week is 7% reduction in base but OTE are 15% higher than previous job.

Bullish? Not necessarily…. just hopeful that a minor miracle occurs and we get decent growth soon.

Getting AMERICAN's back to work instead of visa holders and other non-citizens is something I hope is focused on and successful….that's a reasonable thing to be hopeful for.
annie88
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Athanasius said:

than I ever have before. It's staggering.

And the ones getting jobs are taking massive pay cuts.

I think we are in for a very bad few years.

Who's bullish? Why?




What industries are they in? Are they in their 20s? How long have they been working? Details matter.
“Some people bring joy wherever they go, and some people bring joy whenever they go.” ~ Mark Twain
Tom Fox
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Athanasius said:

than I ever have before. It's staggering.

And the ones getting jobs are taking massive pay cuts.

I think we are in for a very bad few years.

Who's bullish? Why?




Bullish on what? Their individual prospects? The stock market? The overall economy?
91AggieLawyer
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What was the cause of the layoffs? Lower earnings? Overhiring in the past? A drop in prospective revenue?

Or did they realize they can produce the same product or service with only x% of a workforce compared to before?
No Spin Ag
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Athanasius said:

than I ever have before. It's staggering.

And the ones getting jobs are taking massive pay cuts.

I think we are in for a very bad few years.

Who's bullish? Why?




I'm bullish. The reason being is that I just earned myself a pay raise of a little over 20k.

Let the good time roll.
evestor1
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i dont know anyone that has been laid off, but morale seems to suck just about everywhere. disheartening to say the least.


i work in construction and dont really hang with IT or general white collar workers.
CDUB98
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My industry is hurting big time right now. Big capital projects were delayed or cancelled.

Thankfully, I'm working on the small cap side at the moment and customers still need stuff done on that end.
MyNameIsJeff
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Athanasius said:

than I ever have before. It's staggering.

And the ones getting jobs are taking massive pay cuts.

I think we are in for a very bad few years.

Who's bullish? Why?



What industry? I can't personally think of anyone I know that is out of work.
YouBet
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October had the highest number of layoffs since 2003 based on headline I saw this morning.
Artimus Gordon
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This is Hillary's big reset. Btw the Texas economy is exploding. You can't even get out on the highway without the risk of getting run over by an 18 wheeler!
Logos Stick
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I don't know a single person out of work right now.
Shooter McGavin
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My business sucks balls right now. But I can hang. Lots of my competitors are just killing themselves lowering fees. Hurts all of us. Race to the bottom.

Just needs some better rates!
Yukon Cornelius
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Athanasius said:

than I ever have before. It's staggering.

And the ones getting jobs are taking massive pay cuts.

I think we are in for a very bad few years.

Who's bullish? Why?




Very anecdotal. Perhaps the economy is shifting.
CDUB98
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MyNameIsJeff said:

Athanasius said:

than I ever have before. It's staggering.

And the ones getting jobs are taking massive pay cuts.

I think we are in for a very bad few years.

Who's bullish? Why?



What industry? I can't personally think of anyone I know that is out of work.

Industrial EPC.

There are a couple of big jobs still going, but the $200MM-1B have generally dried up at the moment.

Although, we (one data point) are starting to see a couple of breakthroughs in our corner, so hopefully we will be able to bring some folks back soon.
CDUB98
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Quote:

i dont know anyone that has been laid off,

Sadly, on LinkedIn I've seen several, and also, we're having to let go of some folks from MY team at the end of this week or next. These guys have worked their tails off for me. It hurts.
Sims
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I knew more when the government decided covid was going to kill everyone. In my immediate circle today, I'm not aware of any.
BigRobSA
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No Spin Ag said:

Athanasius said:

than I ever have before. It's staggering.

And the ones getting jobs are taking massive pay cuts.

I think we are in for a very bad few years.

Who's bullish? Why?




I'm bullish. The reason being is that I just earned myself a pay raise of a little over 20k.

Let the good time roll.


21k a yr, now


Nice!
No Spin Ag
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BigRobSA said:

No Spin Ag said:

Athanasius said:

than I ever have before. It's staggering.

And the ones getting jobs are taking massive pay cuts.

I think we are in for a very bad few years.

Who's bullish? Why?




I'm bullish. The reason being is that I just earned myself a pay raise of a little over 20k.

Let the good time roll.


21k a yr, now


Nice!


Thanks!

Being able to afford cheese for a burger I have to put on lay-a-way was the goal.
Fireman
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Software sales must be abysmal right now. I used to get 2 to 3 cold call/messages per week. I'm getting 15 per day now, and all the increase does is ensure I delete them immediately and don't even think about them for a second. When they were within reason, I might peruse them a bit, but now there's so many, they get an instant delete.

My industry is pretty stable, although consolidation activity could result in layoffs or problems, but given the size of my company it's seems unlikely.
BigRobSA
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Fireman said:

Software sales must be abysmal right now. I used to get 2 to 3 cold call/messages per week. I'm getting 15 per day now, and all the increase does is ensure I delete them immediately and don't even think about them for a second. When they were within reason, I might peruse them a bit, but now there's so many, they get an instant delete.

My industry is pretty stable, although consolidation activity could result in layoffs or problems, but given the size of my company it's seems unlikely.


"I need to talk to you about the warranty on your 1991 Ford Tempo expiring soon...."
flown-the-coop
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No Spin Ag said:

BigRobSA said:

No Spin Ag said:

Athanasius said:

than I ever have before. It's staggering.

And the ones getting jobs are taking massive pay cuts.

I think we are in for a very bad few years.

Who's bullish? Why?




I'm bullish. The reason being is that I just earned myself a pay raise of a little over 20k.

Let the good time roll.


21k a yr, now


Nice!


Thanks!

Being able to afford cheese for a burger I have to put on lay-a-way was the goal.

You don't sneak a slice on your burger when you make it? Also figured the employee discount would have allowed for the cheese.
shiftyandquick
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Don't worry, in several years we will have lots of new factories and sweatshops, that used to be in Asia. Many new jobs coming as we seek to make America the manufacturing hub of the world. Or at least, of America.
Psycho Bunny
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I bring my cheese for those 2.99 burgers. Gotta save where I can. It's tough times out there. Well... according some posters on here who have federal jobs. As a county employee I still get my check, God forbid a county judge doesn't get paid.
Taxes are just a yearly subscription to the country you live in.
shiftyandquick
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If you are over 50 and have a senior-level good job, you better hold onto that job like nothing else. Because chances of getting an equivalent job are rapidly declining if you quit or get fired.
Spotted Ag
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Learn to code, right? Oh no, AI can do that now. Learn a trade. Framing, plumbing, welding, mechanics.
Covidians, Communists, CNN, FOX, and all other MSM are enemies of the state and should be treated as such.
1876er
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No Spin Ag said:

Athanasius said:

than I ever have before. It's staggering.

And the ones getting jobs are taking massive pay cuts.

I think we are in for a very bad few years.

Who's bullish? Why?




I'm bullish. The reason being is that I just earned myself a pay raise of a little over 20k.

Let the good time roll.


You're excited about a ~1% pay raise?
Or is that your biweekly pay increase?
LMCane
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the one senior manager I know who was let go a few months ago is just starting a new job on Monday

every day there are job listings for trade compliance positions all over the country.
Teslag
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shiftyandquick said:

Don't worry, in several years we will have lots of new factories and sweatshops, that used to be in Asia. Many new jobs coming as we seek to make America the manufacturing hub of the world. Or at least, of America.


Why would you not want more manufacturing brought back here?
Ellis Wyatt
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Athanasius said:

than I ever have before. It's staggering.

And the ones getting jobs are taking massive pay cuts.

As far as I am aware, I don't know anyone out of work. I knew one guy, but he found a job.
David_Puddy
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Because he's a liberal troll
Maroon Elephant
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annie88 said:

Athanasius said:

than I ever have before. It's staggering.

And the ones getting jobs are taking massive pay cuts.

I think we are in for a very bad few years.

Who's bullish? Why?




What industries are they in? Are they in their 20s? How long have they been working? Details matter.

I can speak to my circle of folks right now..

Every industry (outside of aviation)
40's and 50's all white collar jobs
Tons of quality work experience, performance and all bachelor's and / or master's education levels.

There's no downplaying this. Things are really, really bad.
TexAgs Firestorm Survivor
11.25.23
#NeverForget
Teslag
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David_Puddy said:

Because he's a liberal troll


Impossible he said he was a Reagan conservative
 
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