According to the latest financial news, all of these companies (and a few more big names) are in a bit of a mess. And all will need to restructure, file for bankruptcy protection, or send jobs overseas in order to remain in business.
Whatever they do, it will mean layoffs. Lots of layoffs. The article I read suggested 10,000 or more per company.
Last month's unemployment figures were the highest in several years.
Layoffs are already at about 500,000 per month.
Now, some of you may have the kind of jobs that remain no matter what the economic news. I used to think that as a public school teacher, I was pretty safe. After all, people are still having kids and those kids need an education. Most go to public schools. But last Spring, hundreds of teachers in my one little corner of the country did not have their contracts renewed for this school year. It's not that the schools don't need teachers, it just means that school systems can't afford to hire them. Class sizes increase, services are cut...you know the drill.
Funny thing is that for the past two decades, schools have suffered a teacher shortage.
Okay, but you're not a teacher, and I'm ranting a bit.
Fortunately, we've had a lot of big box stores open in this same little corner of the country. (We have the same stores just a few miles away, but that's, apparently, too far.) So some of those laid off teachers may have found work there...although they would have had to compete with thousands of others and take a significant pay cut to a just-above-minimum hourly rate.
Rah.
What is your w-2 job? Do you feel secure?
Or do you think it might be time to be a bit pro-active. Maybe it's time you seriously looked at creating your own financial security.
There are lots of great ways to make money from home...leave the commute and stay with your family. You need to do your research, and you need to look carefully at your qualifications.
Better now, however, then when you have no choice.
Judy
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