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No. The working people are tired of the shutdown. Time to go back to work. Enough is enough. Sounds like you want to stay locked up forever. Go for it.
Meh, it's more the ridiculous way you said it. There's a perfectly reasonable argument to be made on your side. You just didn't choose to go that route.
two of my adult children have been offered 6 figure jobs in the past 3 weeks in the midst of all these layoffs. Weird.
My son is a partner in one of the largest labor law firms in the country ...he has been so busy heading up the National dept for processing the mass paper work needed that he has been working 15 hours a day ...they had been hiring help like crazy because of it
2008 was way worse, I work in Software Engineering and I recall at the time that people were getting laid off left and right. A huge majority of people I knew were out of work. This time around I don't see many layoffs elsewhere yet... i'm unfortunately severely affected as we are in the Event/Sports industry which is completely halted at the moment. I spoke to a few friends and they are optimistic about their jobs... naive perhaps? Who knows. I'm guessing the real carnage may start in Q2/Q3.
However, I think most businesses are complacent and think this is a temp situation that will blow over rather quickly which is why many companies are just not bothered with any layoffs. If they suddenly realize that there is more to this then the panic may start.
Look at this poll too... the vast majority are not impacted and they are also confident in their employment situation. It's amazing... if you had this poll in 2008 it would've been dramatically different, most would've been in the laid off category.
Look at this poll too... the vast majority are not impacted and they are also confident in their employment situation. It's amazing... if you had this poll in 2008 it would've been dramatically different, most would've been in the laid off category.
I'm guessing most of those who visit the Economics forum don't work in the majority of services industry that are going to be affected. Maybe more white-collar, public workers, those with careers who aren't going to be as impacted by with what's going on regularly post in these threads.
2008 was way worse, I work in Software Engineering and I recall at the time that people were getting laid off left and right. A huge majority of people I knew were out of work. This time around I don't see many layoffs elsewhere yet... i'm unfortunately severely affected as we are in the Event/Sports industry which is completely halted at the moment. I spoke to a few friends and they are optimistic about their jobs... naive perhaps? Who knows. I'm guessing the real carnage may start in Q2/Q3.
However, I think most businesses are complacent and think this is a temp situation that will blow over rather quickly which is why many companies are just not bothered with any layoffs. If they suddenly realize that there is more to this then the panic may start.
Look at this poll too... the vast majority are not impacted and they are also confident in their employment situation. It's amazing... if you had this poll in 2008 it would've been dramatically different, most would've been in the laid off category.
I would not want to be in sports related or restaurant related businesses right now. Many will self isolate regardless of what government does. I will probably go to a restaurant occasionally if it ain't crowded.
The best option for me wasn't available. I am really really lucky. I got laid off at the end of Jan, found a new job in late Feb, started new job in mid-March. And my new company had lay-offs - but I wasn't impacted. :O
The company has made some obvious cuts - no exec bonuses, limit travel expenses, and more oversight on spending. Now that I am getting more familiar with the company - it is clear they get too fast and hadn't scaled the right way or setup proper infrastructure in many areas. Growth can hid a lot of problems, but when you investors say no new money for 2 years - you really hold your company up to a microscope. They decided to rip the bandaid and the scab off right now as opposed to prolonging and waiting. Which should leave the company a lot stronger in the long run.
There will definitely be a huge divide and I feel extraordinarily fortunate to have been able to land before stuff hit the fan, and remain employed.
Even with the news of 25 million people being unemployed nationwide, in my professional circle of acquaintances I have yet to hear of anyone being laid off/furloughed or even having their pay or benefits reduced. Wondering if this is an anomaly or if things are infact really bad out there across all industries. I know retail, restaurants and industries dealing with events are adversely affected but other industries seem to be doing just fine?
This applies only to those still in the work force! Thanks!
In my circle - it is a mixed bag. One of my friend works for a city, and they furloughed many people and will announced plans for mass layoffs in the mid summer.
I work in tech - companies that have a good sized war chest are relatively stable, but smaller companies who were in the middle of growth mode are screed unless they were able to secure a ton of money before they ramped spending. Lots of layoff - but not across the board. More of the mid-stage companies. Non-profit land is risky right now.
So I'd say, it really depends on who your company's customers are will be the short term driver. And the long term driver will be is how closely Dows your company's revenue align with consumer spending. A company like Shopify or Square is likely seeing a big boost right now - as companies who were slow to e-commerce are signing up. But a lot of retail and services businesses will not survive, so they will also see a lot of churn.
Instacart, DoorDash, and Grubhub are seeing a boost now - but as people don't have disposable income and unemployment rises, they won't be able to grow.
I also think this is just getting started, and we won't start to see the next wave of broad unemployment until late summer/ early fall. if things can't start opening up by mid-May or early June - this will be when companies decide to not reopen.
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