The latest news on job losses in our banking industry (Charlotte: coupon, employment)

[lovesMountains]

Bank job losses subside, but pain, worry persist - CharlotteObserver.com (http://www.charlotteobserver.com/597/story/841225.html - broken link)

This is scary:

Bank of America said in December that it would cut 30,000 to 35,000 jobs by the end of 2011.

[CouponJack]

To put it in perspective, BofA employs aro 285K people worldwide. They are down 19K total from 6 months ago.

I believe the article had it correct...people will continue to be laid off (maybe not in the numbers previously) but..quiety and steadily for awhile....

[lovesMountains]

Originally Posted by CouponJack

To put it in perspective, BofA employs aro 285K people worldwide. They are down 19K total from 6 months ago.

I believe the article had it correct...people will continue to be laid off (maybe not in the numbers previously) but..quiety and steadily for awhile....

FYI to anyone thinking of coming here for a banking job.

[sheenie2000]

And you know what's really really irritating? Every week, I keep getting emails from my manager on how they hired more offshore people.

[brokensky]

Positions are being moved overseas in MANY businesses in diverse sectors of the economy.

And no, we have not seen the last of the lay-offs. And I think the term "layoff" does not convey that these jobs are GONE. It is not like they are going to gear up and call people back to work. They are making operational changes, integrating services and literally cutting out jobs.

That is what I have been saying for six months . . . these jobs are gone and folks that can relocate are going to have no choice but do so in many cases. I am not just speculating - I have been researching this for months - since 2008.

The writer referred to layoffs in one sector affecting overall business downturns in the city - what is referred to as "the domino effect" in job loss w/in a region.

That is why I keep asking folks - why are you moving here w/o jobs when you know we have such a high unemployment rate? I realize folks see this as a lower cost of living area, but there are MANY cities to choose from that have the same or lower cost of living as Charlotte has. For example, I checked this weekend on several cities throughout the USA wh/ I know well and would move to and happily live . . . and they are all in better shape than Charlotte.

[CouponJack]

Originally Posted by anifani821

? I realize folks see this as a lower cost of living area, but there are MANY cities to choose from that have the same or lower cost of living as Charlotte has. For example, I checked this weekend on several cities throughout the USA wh/ I know well and would move to and happily live . . . and they are all in better shape than Charlotte.

Ani, because honestly, some cities that you may find desirable, may not be to others....

For example. I've heard many people rave about texas (specifically Austin) and how they've held up better. For me, I wouldn't live there for many reasons (mainly because its further away from my family, the climate isn't preferrable to me, and most importantly, its pretty much landlocked...the gulf is very far away)....those all are killers for me...

I think your right though, that people should give hard looks to other parts of the country...

[Gregory P]

Originally Posted by anifani821

I realize folks see this as a lower cost of living area, but there are MANY cities to choose from that have the same or lower cost of living as Charlotte has. For example, I checked this weekend on several cities throughout the USA wh/ I know well and would move to and happily live . . . and they are all in better shape than Charlotte.

Aren't you going to share those cities? :-)

We were 3 weeks from moving back to Charlotte. (Only lived there for 2 years)

But decided it'd be best to wait out the storm (what's another few $500 heating bills through one more winter?).

I'm self employed but still concerned about the local economy. But the instability concerns me when it comes to important issues (i.e. education).

I still think the outlook for Charlotte is positive? It's not like RI or Michigan where they're getting crushed with losses AND everything is old, rusty, and expensive.

But again...I'd like to hear those alternative cities. I also agree with coupon jack on being land locked. Yuck...

[brokensky]

Originally Posted by Gregory P

Aren't you going to share those cities? :-)

We were 3 weeks from moving back to Charlotte. (Only lived there for 2 years)

But decided it'd be best to wait out the storm (what's another few $500 heating bills through one more winter?).

I'm self employed but still concerned about the local economy. But the instability concerns me when it comes to important issues (i.e. education).

I still think the outlook for Charlotte is positive? It's not like RI or Michigan where they're getting crushed with losses AND everything is old, rusty, and expensive.

But again...I'd like to hear those alternative cities. I also agree with coupon jack on being land locked. Yuck...

Jack knows that I don't mind cold weather, Hee Hee, and that is also a deal breaker for a lot of folks.

Here are my favorites, all of which I have spent a lot of time in and would move to:

1. Charlottesville, VA
2. Billings, MT
3. Des Moines, IA
4. Missoula, MT
5. Ft. Walton Bch - Destin, FL
6. Cape Coral - Ft.Myers, FL
7. Harrisonburg, VA
8. Washington, DC
9. Oklahoma City, OK (okay - not one of my fave places - but love TULSA)
10.Salt Lake City, UT (this is one place I have NOT spent a lot of time, but do have friends who live there and are happy).
11. San Antonio, TX
12. Overland Park - Lenexa, KS

Here is a link from the Labor Dept . . . please note that both Hickory metro and Charlotte metro are on the list as the worst hit w/ job loss.

Metropolitan Area Employment and Unemployment Summary

[brokensky]

And guys, I totally understand about being far away from family. Let's face it . . . I have a huge extended family here in CLT and felt I needed to move back here b/c of my parents and their increasing health issues as they become older. However, when I lived in KS . .. it was a a little over a 2 hour direct flight back to NC . . . and about a 14 hour drive, wh/ I often did in one day (by myself).

Des Moines, for ex., is a really nice city. Very robust cultural and arts scene there.

Oh - I forgot to add - don't know what the jobless rate is in State College, PA, but this is def on hubby and my list of places we would move. It is simply a lovely area and wonderful folks living there.

As you can see, I would move to Montana - so obviously, blizzards don't bother me. I know that is not typical.

And yes, KS is landlocked but there are lovely lakes around . . .

[baybook]

Hee hee

The only place on this list I would consider is DC. ;-) And it is a bunch of other issues I would not like. Oh well.