Here we go again....wife laid off today.

[Oh Haha]

Ya know, just when you think you are getting ahead, you get kicked in the goonies.


Not much to the story other than her and another member of the management were let go today due to financial constraints forcing the change.


She's pretty hurt as this facility was where she has spent close to 15 years. To me, it appears that the investment group that bought the factory a couple of years ago wants to bring in all new teams to run it "their way".

She'll find another job but for right now we'll be saving daycare costs as well as the fuel she used driving 70 miles 5 days a week.


Thanks for allowing me to vent a bit.

[szyzygy]

sorry dude. Sounds like a reason to have a beer.

[Rick Lee]

So sorry man. This blows. I've gone to work once when the doors were locked and been laid off as soon as I walked in twice. Sucks no matter how well you're doing. Look at notfarnow's story and use it as an inspiration to turn this into a positive.

[szyzygy]

Hey, at least your wife works. Mine hasn't in 7 years.

[Oh Haha]

Originally Posted by szyzygy

sorry dude. Sounds like a reason to have a beer.

Can't afford it now.







I keed.





We are thinking about her going back to college and upgrading her education.

[szyzygy]

Originally Posted by Oh Haha

Can't afford it now.







I keed.





We are thinking about her going back to college and upgrading her education.

hey, I've been there when I couldn't afford a beer. I actually used to live out of my truck for awhile. That was about 15 years ago.
What's her background? Is there some other self-study thing she could do and get some certifications on her own? That's cheaper than college.
But yeah, you gotta have something to put on your resume or HR won't even look at you.

[Hugh R]

So sorry to hear. Education never hurts, and usually has a good return on investment.

[vash]

sorry for the crap news!

my wife got laid off one year after we wed. "dual income-no kids" was a short ride..

[gr8fl4porsche]

My wife lost her job of 18 years 2 years ago. Found another before the severance ran out. Hated that one and found another. I guess it helps being in the medical biz. Plenty of sick folks to go around.

[Oh Haha]

My layoff was a blessing in disguise so once the initial sting of this wears off, we'll forge ahead like we have for the past 12 years, together.

I've told my boss that I'll be needing a raise right away.

His response was "yeah, me too."

[azasadny]

Wayne,
I'm sorry to hear this, these challenges are never easy but you two are a team. You'll plow right through this and end up in a better place, job-wise. Good luck!

[Aurel]

A coworker just got laid off today. I guess end of fiscal year and new budgets are the time bean counters like to trim. Good luck to your wife.

[Scott R]

Originally Posted by Aurel

A coworker just got laid off today. I guess end of fiscal year and new budgets are the time bean counters like to trim. Good luck to your wife.

You're right, I have to make a decision by Monday on a few of my staff members. We made 2.7 billion in 2011, but it's never enough.

[szyzygy]

Originally Posted by Scott R

You're right, I have to make a decision by Monday on a few of my staff members. We made 2.7 billion in 2011, but it's never enough.

2.7B sounds like a lot, but not if you have more than 2.7B going out the door.

Unless you are saying you made 2.7B in distributable earnings.

[Scott R]

Originally Posted by szyzygy

2.7B sounds like a lot, but not if you have more than 2.7B going out the door.

Unless you are saying you made 2.7B in distributable earnings.

http://www.firstdata.com/downloads/news/fd-2q11-with.financials.pdf

depends on which number you look at. 2 billion liquid you would think we could reinvest in people, but, no. $280 million for the business but it will all be for new technology. Our computer systems have a birth rate of 1 every four hours so machines outnumber people by quite a bit.

And Oh haha, I'm very sorry to hear about this, this has been a tough couple of years for sure.

[LakeCleElum]

Sorry to hear this Wayne....Maybe the saved daycare, saved commuting costs and Unemployment can help buy beer? Bad news just when the liberal media is saying how good things are.

[szyzygy]

Originally Posted by Scott R

http://www.firstdata.com/downloads/news/fd-2q11-with.financials.pdf

depends on which number you look at. 2 billion liquid you would think we could reinvest in people, but, no. $280 million for the business but it will all be for new technology. Our computer systems have a birth rate of 1 every four hours so machines outnumber people by quite a bit.

And Oh haha, I'm very sorry to hear about this, this has been a tough couple of years for sure.

computer systems also have death rates...

[szyzygy]

Originally Posted by Scott R

http://www.firstdata.com/downloads/news/fd-2q11-with.financials.pdf

depends on which number you look at. 2 billion liquid you would think we could reinvest in people, but, no. $280 million for the business but it will all be for new technology. Our computer systems have a birth rate of 1 every four hours so machines outnumber people by quite a bit.

And Oh haha, I'm very sorry to hear about this, this has been a tough couple of years for sure.

That interest expense is killing you guys.

I mostly know insurance company financial statements...

[Scott R]

Originally Posted by szyzygy

That interest expense is killing you guys.

I mostly know insurance company financial statements...

You're dead on. That's the result of KKR purchasing us two years ago.

[crustychief]

Sorry to hear about that Wayne. Freedom to upgrade the education could be a good thing though. Stay positive!