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His company is giving him compensation and is helping him find a job. He has worked in business administration for a pretty large corporate head quarters/office.
I am worried. Do you think he will make as much money or more or less in his new job? Do you think any other problems could occur? Anybody know a potential reason for the lay off?
Layoffs are common in all markets, but today most stem from the down economy and real estate market. He should not have any problems securing a job, it may take longer than he likes. Money could always be a factor depending on whose hiring; with careful planning he should have no problem getting the dollars. However, we must be realistic with the market at this current time.
How long did he work there? If he is one of those people who was there for like 30 years - chances are he will not find a position that has the benefits and salary he left. but if he was only there a short time 5 years or so. He should be fine.
Layoffs are always because of beancounters. You/your dept are not value added anymore and are too expensive. Even if you kill yourself for the company practically, - if they need you gone, you are gone. You may dodge a few rounds of layoffs if you are a better worker, but they will git ya eventually.
His company is giving him compensation and is helping him find a job. He has worked in business administration for a pretty large corporate head quarters/office.
I am worried. Do you think he will make as much money or more or less in his new job? Do you think any other problems could occur? Anybody know a potential reason for the lay off?
What? Sorry, but I'm somewhat baffled that people today would be shocked that employees with tenure are being laid off. In my area (NE OH) this has been going on since the mid to late 70's, over 30 years now. To answer your questions: No, I don't think he will make as much money unless he has a lot, and I mean, A LOT going for him, things like specialized knowledge, etc. I don't know what you mean by "other problems could occur". As far as a potential reason for lay-off, lay-offs are due to the bottom financial line - period. That could mean any number of things. At least your friend is getting compensation and the company is helping him find a job. This scenario is repeated thousands of times in America every day.
there was an unemployment report that just came out this morning that I saw on CNBC. 80,000 people lost their jobs in March. My fiancee told me that yesterday they let go eight people from her job. Times are tough. Hang in there...you WILL get through and things WILL get better.
20 Years in business administration/management work. He has experience in training others.
Quote:
Originally Posted by gardener34
How long did he work there? If he is one of those people who was there for like 30 years - chances are he will not find a position that has the benefits and salary he left. but if he was only there a short time 5 years or so. He should be fine.
Layoffs are always because of beancounters. You/your dept are not value added anymore and are too expensive. Even if you kill yourself for the company practically, - if they need you gone, you are gone. You may dodge a few rounds of layoffs if you are a better worker, but they will git ya eventually.
Most job markets are so localized in their wants/needs that it is impossible to predict. In 2002/03 - Chicago was hit hard - other areas not so bad. (remember the "jobless recovery"?)
Good luck to him and all those other laid offs - been there done that.
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