I watched good friends & co-workers get laid off today

Discussion in 'The Watercooler' started by C.J., Mar 20, 2009.

  1. C.J.

    C.J. New Member

    I work in banking/mortgage/real estate industry. Today, a bank merger went through, and the layoffs were announced.

    We lost some really good people. In three departments, there were 50% layoffs. For some people, it was a relief to finally have facts and not gossip and half-truths. Some people are thrilled, as they waited out these last several months for a promised retention bonus, and are now free to go with a little cash. For most, especially the dedicated highly qualified ones, it was heartbreaking and devastating.

    Strangest of all - there was no rhyme or reason (it seems) as to who was let go and who stayed. In some cases the most senior member of the dept was kept, and some not. In some cases, the top performers were kept, others not.

    been there done that. Not all that long ago, I was laid off, was out of work for four months, and the severance package I got was very close to running out when I started the new job.

    For those of us who remain, their plan is to keep the center open in this town for another six months, possibly longer, depending on the economics six months from now. Oh joy.

    I am drained tonight - physically and emotionally.
  2. Star*

    Star* call 911........call 911

    I swear our economy has become a "Logans Run" of sorts -

    No rhyme or reason to your number being up - just is.....and there you go.

    I'm glad whatever the CEO's decided as a cutting off point that you stayed. I can not imagine how that feels, and sure hope I never have to. Keep your chin up -
    Hugs & Understanding -
  3. tiredmommy

    tiredmommy Site Moderator

    I'm really glad you made the cut. My husband dodged the pink slip on Wednesday... he also works in the financial industry (in the IT department). A very good friend of his lost his job and we feel just horrible for him. It's been a hellish few weeks for us and all his co-workers and their families leading up to this. I hope your friends and co-workers land on their feet and find new jobs quickly.
  4. KTMom91

    KTMom91 Well-Known Member

    I'm sorry, C.J. Hugs.
  5. Hound dog

    Hound dog Nana's are Beautiful

    sister in law dodged his pink slip last week.......and we were surprised they were even laying off as airline machanics are always needed. So sister in law and easy child are cutting back even more to tuck rainy day funds away just in case.

    husband is walking a tightwire, but so far no rumors of layoffs. (thank God)

    It's scary out there right now.

  6. totoro

    totoro Mom? What's a GFG?

    Things are just so scary. You try to just trudge along and hope for the best.
    Most of us just never know.
    Security really doesn't mean a thing, does it?
  7. Suz

    Suz (the future) MRS. GERE

    I feel your pain. Because of budget cuts I was laid off 2.5 years ago without any kind of severance package and it took a few months to find another job. It is terrifying at any age and especially when you're in your late 50's as I was then.

    I'm glad you dodged the bullet, CJ. I hope your co-workers find new jobs quickly.

  8. Abbey

    Abbey Spork Queen

    Purely stinks. My roomie came home last night and he had the pink slip. He was a happy camper.

    I'm glad you dodged the bullet.