What would you do if you got laid off today?
 

My employer laid off 150 people at Corporate this week. I "think" my job is safe. I'm 59 the wife is 57 we make comparable incomes. Our time horizon to "retire" is about another 5 years. I think I'd "retire" in that I might look into doing some free lance consulting again, but I don't think I'd go after another full time job. What would you do?

Head to the bar!

Grow weed

If I was 59 I would retire without a doubt.

But your job sounds far too good for that :D

I would go home and make an Old Fashioned. Then I would start planning the next phase of my life where I would spend my days passionately enjoying my career.

But then I would wake up and find another job that I can't stand but pays well.

I wasn't laid off, but I left the workforce. I volunteer a lot of my time, it's very satisfying.

I'm planning on retiring in 2-3 years. I'd probably try to find a new job, or try consulting.

I would either part-out 911s or open a savory pastry café. Or maybe do FirstTime Dad again.

Been retired for almost 4 years. Seriously thinking about going back to work to double dip for a couple of years and buy either a GT-2 or new GT-3. My wife loves her job and says she is going a couple of more years no matter what even though she could retire tomorrow with a heck of a retirement plan. Do I need a GT-2?

I'd be set for a few years while looking...then it would start to get tight. Then again, I've not had any real vacation for a couple of years either.

I own my own business which is a trade so I don't know that I'll ever completely get out of my industry, although I do see myself slowing down at some point and integrating more time for my other hobbies.

Further, I always saw myself as a beach bum with a mohawk or ponytail or (insert you choice of rebellious hair style here) and spending my days surfing and riding my beach cruiser while listening to my MP3 player rocking out....

I'd also spend more time with my horticulture life. Here are some seeds I just purchased from Oz for example that I will be growing as an experiment. I find plant science to be as fascinating as it is therapeutic.

:)

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I quit working when I was 50. I gave up a good paying job, but worked all the time. That was 5 years ago. Sometimes I think about the money I gave up, but I would never go back to work now. I would try and cut my expenses and make due with what I have if possible. The ability to do pretty much what I want and all my time is my own is just great.

My mother passed away when she was 55 so you never know how much time you have or how long you will have your health. My dad had his own company but basically closed up shop and retired at 57. Said he wished he had done it earlier as he could have afforded it.

Of coarse I was able to pick my time and plan for it so it was easier. And I actually planned to quit before I turned 50 but the boss talked me into working part time for 6 months to help the person taking my place.

Good question.
I might be in that boat in a few weeks. We were told yesterday if things don't change in 6 weeks there will be changes (layoffs).
I've been with the same company (HVAC tech) for 28.5 years and I can take early retirement in late 2014. I planned on taking it.
It's been a long time since I looked for work.

Have the wife quit, sell the house in California, load up the motor home and hit the road. No stress, no worries. Then when you find a place you like stay there.

I like to look at my old tax returns and look at how much less I'm paying now.

And I like to tell my wife's liberal friends that I'm going to get Obamacare subsidies just to piss them off. To bad I probably can't make it happen, but they don't know that.

I would become a consultant and leave before being booted out.

Baz, look into soil science and organic soil nutrition (pH, minerals, and organic nutrients) that is where the future breakthroughs are.

How many years do you have and what kind of a severance would you get. Why leave if there is a package. Wait until the company makes the decision for you. As long as you ate happy where you are stck it out.

Well, we're diversifying our company for reasons such as this...

Fred meet Baz....Baz meet Fred:)

Is that you Fred?

Anywhoo....took the soils and plant physiology classes while getting my degree and didn't really think it was all that exciting but thanks anyway - I know there's a huge push to move away from synthetic materials in the green industry. But I find it much more interesting focusing on plant materials and cultivation practices. As well as design and aftercare methods....which are always in demand and something many folks don't know how to do properly.

Like you consulting is always an option as I slowly move away from the physical part.....not that I will ever stop planting stuff....just won't do it week in and week out like I do now...

I would panic! When I got the news I was getting furloughed last summer, it was the most stressful time I have ever had in my life. With child 1 starting college, and another a year behind, I couldn't afford to be out of work for one day. Thankfully it all worked out, but I think I lost 30 lbs last summer and turned gray over night.

uh...not Fred. I have no idea who Fred is.

I'm not saying organic is the thing. That is a small part of emerging science. I'm saying that science is just beginning to understand the whole plant as an organism that has evolved in nature to provide it's own nutrition and defence against predators. In fact, the way a plant lures good predators to ward off bad insects is fascinating too, and if there is a future area of lucrative business opportunity, it is in exporting the knowledge that we have here in the areas of soil nutrition and big picture horticulture. The demand as the world gets more crowded will be to mimic these natural processes. If you take two plants , one that is grown conventionally and the other that is grown with advanced soil practices, the second will be larger, more healthy, and the fruit or plant product will be superior in every way. You can taste a peach or tomato that has proper pH and elements in the soil. Cotton will be stronger and have noticably better fibers, etc etc

Do what you love.
Love what you do.

Actually, if I got laid off, fired or rightfully terminated it would most likely be the best thing for me! It would actually force me to do what I have stewing ;)

Nothing brings about motivation and action than a growly belly...

well mandatory retirement july 31, i'll let you know then.

I went through a few rounds of layoffs at a previous employer.

Anyway, after being 'saved' from layoff a number of times over 5 years I was essentially just waiting for either my turn or to do something better. Unfortunately they kept offering me money to stay in the form of retention bonuses. It started with a bonus every 6 months, then every quarter and finally it was monthly. I finally found another job (where I am and have been for a few years).

Looking back I think it would have been much better for me emotionally (and my family) if I had just gotten laid off in the first round. Unfortunately or fortunately I was the guy they needed to keep the longest. It was tough dealing with the stress and the change in the organization I was a member of, er - basically I ended up being. The company I work for is a vendor so we have a team that still works with where I used to be and hearing about how they are doing things these days is just painful.

Sometimes it's better to go early and find something else. Unfortunately what I see is that usually the guys who are the least likely to be able to find another job are the most likely to go (makes sense eh?) and those who are most likely to not really have a problem (I had offers as soon as the layoffs were announced) finding something else get kept for the misery of staying.

You're damned if you do and you're damned if you don't.

Hugh, there is always a surfboard with your name on it here in Lyall Bay if you would like to come and work with Peter Jackson.

cash in my severance, enjoy the summer

Sequestration cuts are about to trickle down. I'm spared so far (knock on wood) but I've been doing a lot of "what it" planning. If I got laid off I'd take a couple days to try and catch up on sleep then ping a bunch of past collaborators and see what is possible. My 4.5 year plan is to cut down to half time anyway so I've got more energy to do music, a lay-off might accelerate that though I've got 2+ years of high rent until the boy finishes HS. The rainy day fun will support about a year with no income. No severance comes with my position so I've saved up vacation days as a substitute.

Hopefully can avoid having to put plan B or C into action...

I have several people that have said if I ever need a job, check with them, so that would be a good first step.

Move back in with mom:( eat hot pockets and drink high-C. Play online games

I'd go on my own. I'm sick of making other people rich. It'd be the motivator I need to take the plunge and open my own shop (economy worries, need for stability, family keep me trapped where I am for now). Might be terrible, might be the best thing that ever happened to me - dunno. Hope it doesn't happen.

OK the Fred was from Enzo's comment - sorry.

There has always been a push to integrate biological methods to increase/enhance results. Something I have been involved in to some extent for over 30 years. The technology is already out there. For a person who wants to focus on that science that's great - I agree there's a demand for more of this. But I see myself more headed into the design and aftercare consulting segment. A troubleshooter/consultant at $75.00/hour who only works 2 days a week. The other days I get to spend how I want, the rest of civilisation be damned! :)

Hugh;

I started my second retirement yesterday. Am loading up the bus, taking a months' tour of Georgia and South Carolina. Became residents of South Dakota last month. Have missed actually meeting any of Huntsvilles' Pelicans in the last 4 years (that's you GT350 Mike), but will still be around Redstone from time to time.

Hugh again; meet us at Oshkosh. Am gonna do a once-around Lake Superior this fall..... Meet us up at Rincon. Will be in Calif late June.

Michael.

I got kinda laid off on April 1, kinda cause my employer is still paying a portion of my wage and benefits, I started working on getting some work for the companies equipment, I'm renting the gear and have 1 or 2 contracts pretty well lined up already, its time to pop'er in high gear and make some real money.
After being layed off 200 times or more over the last 35 years it doesn't bother me at all, I washed the E-Type to celebrate, every time I finish the job I'm on I'm essentially layed off so its not a new thing or a panic thing for me but I'm lucky. I feel sorry for people that stress over this lay off thing, its one door closed and another always opens.
Finn

I'd shop my wife's resume around and get her a job, so I can stay home w/ the kids.

I left my field before it happened. I was a HVAC tech for the last 20 years, did mostly commercial work, non union unfortunately. Got really lucky and scored a job in an affluent municipality. Hope to work 20 more years. Would like to retire before I hit 66. I just can't. Plus I like working.

Dean

Move to AZ, the phone will ring off the hook for 8 months of the year.

I have retired 3 times. Last time was 2010 when I sold my company after the economy trashed what had been a steady climb to success. I was 59 at the time.

I took a year off, worked my ass off on a farm I had acquired in 1996 (labor of love, still doing it), gave my next phase in life a LOT of thought and............ reinvented myself.

It turns out that companies today need the experience gained by actually running companies BEFORE the 90's, (when any idiot could get funding and sell before they had to actually PROVE the investment theme out).

There are a LOT of not-very-experienced executives out there running companies who are hitting a wall because cash is tight, customers are WAY more demanding and the only survivors are comfortable making HARD decisions early enough to keep the cash flowing.

Reinvent yourself....... you have skills the younger generation does not have, THAT is your unfair competitive advantage.

I'm retired by recession. That's the same as being laid off.

I wish I could believe what you say, Gretch, but those younger execs won't listen to anyone. By the time they are ready to listen, they're already dead in the water. I watch old episodes of American Hot Rod and you can see Boyd Cottington is upside down before his bank account knew it. He talked tough while money was flying out the door.

That's the kind of guy you runinto all the time. Constipated brain.

I'm tired of the feast or famine, even though I'd probably like AZ. Plus my wife works and has an established book of business.
Dean