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Layoffs hit highest level for the month since 2003

challengergray.com

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Re: Layoffs hit highest level for the month since 2003

#41

Post by onlyrealcuzzo »

Chance-Device wrote: post #36

The question for me is, assuming that other companies are more humane and are avoiding laying people off before Christmas, what does January look like?

That's a bold assumption.

It used to be true, but companies seem deadset on demoralizing their workforce as much as possible.

They've raised prices as much as consumers will bear.

We're getting near the physical limits of how efficient things can get in many sectors.

If P/Es are to remain this high (and they have to for the rich to remain this rich), the profits must continue to grow far in excess of the total economy.

The only orange left to squeeze is labor costs.

Re: Layoffs hit highest level for the month since 2003

#42

Post by wahnfrieden »

ghaff wrote: post #38
soared wrote: post #18

Earlier quoted context omitted.

The alternative is unions correct?

Unions helped Detroit autoworkers so much. I'm not totally opposed to unions but if people don't want to buy the company's product at the price it's offered for (and costs), they can't sustainably force the company to pay workers more.

Workers were not the cause of Detroit's downfall

Re: Layoffs hit highest level for the month since 2003

#43

Post by forgetbook »

randycupertino wrote: post #2

Just the last 4-6 weeks I've started noticing a marked uptick in desperation in reposted linkedin "looking for work" posts. One was "I'll take ANY job to feed my kids" and another was talking about how they've been out of work 10 months and were about to lose their house. Another was saying they were about to get evicted and moving back in with their parents in the midwest. Things feel ominous out there. If it helps…

Thank you!

Re: Layoffs hit highest level for the month since 2003

#44

Post by dragonwriter »

lifestyleguru wrote: post #12

This is the most awkward crisis no one admits there is, intertwined with two wars, one genocide, and oligarchs uniformly taking over the power across the entire developed world.

> This is the most awkward crisis no one admits there is,

The AI bubble being the only thing holding up aggregate economic numbers is widely acknowledged, and this is just one of many manifestations of that.

> intertwined with two wars, one genocide,

There are more than two wars and one genocide happening now, so that's a really weird insertion.

Re: Layoffs hit highest level for the month since 2003

#45

Post by bdangubic »

ghaff wrote: post #38
soared wrote: post #18

Earlier quoted context omitted.

The alternative is unions correct?

Unions helped Detroit autoworkers so much. I'm not totally opposed to unions but if people don't want to buy the company's product at the price it's offered for (and costs), they can't sustainably force the company to pay workers more.

“ It is not good management to take profits out of the workers or the buyers; make management produce the profits. Don’t cheapen the product. Don’t cheapen the wage. don’t overcharge the public. Well-managed business pays high wages and sells at low prices. Its workmen have the leisure to enjoy life and the wherewithal with which to finance that enjoyment.”

– Henry Ford, Ford Motor Company

Re: Layoffs hit highest level for the month since 2003

#46

Post by sigwinch »

bdangubic wrote: post #45
ghaff wrote: post #38

Earlier quoted context omitted.

Unions helped Detroit autoworkers so much. I'm not totally opposed to unions but if people don't want to buy the company's product at the price it's offered for (and costs), they can't sustainably force the company to pay workers more.

“ It is not good management to take profits out of the workers or the buyers; make management produce the profits. Don’t cheapen the product. Don’t cheapen the wage. don’t overcharge the public. Well-managed business pays high wages and sells at low prices. Its workmen have the leisure to enjoy life and the wherewithal with which to finance that enjoyment.” – Henry Ford, Ford Motor Company

Who is today’s Henry Ford?

Re: Layoffs hit highest level for the month since 2003

#47

Post by dragonwriter »

rickcarlino wrote: post #23
swyx wrote: post #9

this post is filled with ads and is a low effort rewrite of the OP post: https://www.challengergray.com/blog/october-challenger-repor... which has more info and did the original work. suggest swapping link for this post. would also pay some money to never see this awful site again on HN. by the time you scroll to paragraph 3 the screen is 50% filled with shoe ads and other random shit

The headline is also shit. I wish there was a way to flag with context.

If something is worth flagging, context isn't needed. If something has problems that can be adequately addressed by adding context, that's what comments, an not flagging, are for. "Flagging with context" is not understanding the purpose of flagging.

Re: Layoffs hit highest level for the month since 2003

#48

Post by randycupertino »

silisili wrote: post #5
randycupertino wrote: post #2

Just the last 4-6 weeks I've started noticing a marked uptick in desperation in reposted linkedin "looking for work" posts. One was "I'll take ANY job to feed my kids" and another was talking about how they've been out of work 10 months and were about to lose their house. Another was saying they were about to get evicted and moving back in with their parents in the midwest. Things feel ominous out there. If it helps…

Interesting suggestion - thanks for sharing. Is the pay location dependent or has it just gone way down? That link shows three near me, but only paying a rather paltry $23/hr. That's not much more than something like Walmart, which is likely a much less strenuous job with way less wear and tear on your vehicle(and body).

I think the pay is location dependent, but note there was a LOT of opportunity for overtime- I basically could work as much as I wanted. They would ask us to stay late to do extra deliveries almost every day and come in weekends also for time and a half or double time. I think it might vary on the volume of your hub. The reddit "UPSers" subreddit was also a good resource, if you search PVD or SSD on there:

https://www.reddit.com/r/UPS/comments/z0bpne/advice_for_a_ne...

https://www.reddit.com/r/UPS/comments/zu6x8n/first_year_pvd_...

https://www.reddit.com/r/UPSers/comments/1gdypb6/working_as_...

https://www.reddit.com/r/UPSers/comments/18jxcd5/ssd_center_...

Re: Layoffs hit highest level for the month since 2003

#50

Post by randycupertino »

RealityVoid wrote: post #17
randycupertino wrote: post #2

Just the last 4-6 weeks I've started noticing a marked uptick in desperation in reposted linkedin "looking for work" posts. One was "I'll take ANY job to feed my kids" and another was talking about how they've been out of work 10 months and were about to lose their house. Another was saying they were about to get evicted and moving back in with their parents in the midwest. Things feel ominous out there. If it helps…

It makes sense to get any job if finances force you to, but... if you're not strapped for cash, would that really be the best way to spend that time? I have absolutely nothing against hard work, and if you want to keep yourself busy, go ahead. But I feel it's an ineffective way to spend forced downtime. Honestly, if I were hit by lack of work, I would see how much runway savings I have and then try to either take som…

For me personally I was pretty depressed about being laid off and instead of using the time wisely (gym/cooking/museums/travel) I was moping around, so having something that forced me to get out of the house and busy was really beneficial.

Also, doing the deliveries kind of sucked so much (lol) that it was highly motivational to network with recruiters which is how I got back in industry.

There's definitely more optimal uses of time for a layoff but I wasn't utilizing them hence this was perfect for me at the time!

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