Spared from Today''s Layoff, Not sure about the next 18 mos though

[violet02]

I posted this in the Norcal GTG thread but it was suggested a start a new thread which is a good idea.

Here''s my news from today.

-----------------

Just to give everyone an update (for those of you not following this in the news).

Microsoft announced 5k layoffs today. 1400 of the layoffs occuring today and 3600 over the next 18 months. Each division basically got a mail saying no cuts here or some cuts etc. I know MSN as a division is going to see some cuts (I''m under that) but our actual business group in it''s entirety was luckily spared from any cuts. So I''m still here!

What this means for next quarter and the next 18 months? I can''t say for sure, we don''t know. I do know that Microsoft is implementing a lot of cost cutting measures including a freeze on raises until next year. I can''t blame them for doing these things. A job is better than no job.

One of my friends got laid off though from his group. He''s been here for over 10 years. He''s having a really hard time right now. As someone who''s been laid off three times and has been through even more layoffs than that my heart goes out to everyone going through this right now. Those of us spared are going to have to kick it into high gear or risk being on the list next time around.

Oh and the severance packages were pretty awesome for those who have worked here awhile. The only bummer is what''s the job market going to look like for the next six months if they need to get work.

And lastly there''s some other lame rumor going around about more cuts tomorrow but I think that''s just a lame rumor.

 

[Harriet]

I''m glad you were spared. I''ll keep my fingers crossed for you.

 

[mia1181]

Sorry to hear this Violet, DH is in a similar situation. His Boss, and Boss'' Boss were laid off, but he was spared. But more layoffs will be announced in February. Then there are also rumors that his company is looking to be sold to a big pharma company so we''ll see...

 

[anchor31]

I'm sorry to hear you're going through this. DH is as well; 37% of the company was laid off two weeks ago, and we have no idea if he'll still have a job once the project his team is working on is finished at the end of February. As for me, I can't find a job in my field to start with. Tough times.

 

[violet02]

Harriet - Thanks I will need all fingers crossed for awhile!

Mia - I really hope your DH doesn''t get laid off. Tell him I wish him luck!

I think the hard part will be this next 18 months for people here. I''m actually working on ''something'' else right now and will probably need a lot of dust to get it. Fingers crossed!

 

[Dancing Fire]

Date: 1/22/2009 7:27:16 PM
Author:violet02
I posted this in the Norcal GTG thread but it was suggested a start a new thread which is a good idea.

Here''s my news from today.

-----------------

Just to give everyone an update (for those of you not following this in the news).

Microsoft announced 5k layoffs today. 1400 of the layoffs occuring today and 3600 over the next 18 months. Each division basically got a mail saying no cuts here or some cuts etc. I know MSN as a division is going to see some cuts (I''m under that) but our actual business group in it''s entirety was luckily spared from any cuts. So I''m still here!

violet
hope you won''t get hit with the layoffs,good luck !!

speaking of microsoft...today i bought more shares @ $17.70

 

[violet02]

anchor - I can''t imagine being in that position right now sorry to hear it! I hope you find something soon!

I was thinking earlier about how big that severance package was and it might be nice to not have to work for half a year but my friend here at work kept reminding me, it''s easier to find a job when you have a job!

 

[Beacon]

I am very happy for you violet! Also cheers to Moviezombie. THis is such a scary time! I feel super bad for people who were not so lucky. I hope everyone can hold it together as the economy grinds through this depression.

 

[violet02]

Date: 1/22/2009 8:04:25 PM
Author: Dancing Fire

Date: 1/22/2009 7:27:16 PM

Author:violet02

I posted this in the Norcal GTG thread but it was suggested a start a new thread which is a good idea.


Here''s my news from today.


-----------------


Just to give everyone an update (for those of you not following this in the news).


Microsoft announced 5k layoffs today. 1400 of the layoffs occuring today and 3600 over the next 18 months. Each division basically got a mail saying no cuts here or some cuts etc. I know MSN as a division is going to see some cuts (I''m under that) but our actual business group in it''s entirety was luckily spared from any cuts. So I''m still here!

violet

hope you won''t get hit with the layoffs,good luck !!


speaking of microsoft...today i bought more shares @ $17.70

Well isn''t now supposed to be a good time to buy? When it''s really low? Then hopefully it will go up over the next year. I wonder if it will bottom out even more, probably. My original strike price on my options (they give out ''awards'' now) was $25 and $27. I dumped all of it as soon as it was above water years ago. I''ve been through one split and didn''t make anything out of that one really. So yeah I probably would think twice about buying that stock, heh. Luckily last year was better so I was able to sell some at a decent price... stock awards that is. Those at least are fully paid for so we don''t get hosed like we did with options. I''ve been here 8 years and have yet to see some amazing stock deal.

 

[violet02]

Date: 1/22/2009 8:09:31 PM
Author: Beacon
I am very happy for you violet! Also cheers to Moviezombie. THis is such a scary time! I feel super bad for people who were not so lucky. I hope everyone can hold it together as the economy grinds through this depression.

Thanks Beacon. Everytime I hear a friend or their family member gets laid off I feel so terrible for them. I''m really hoping this gets better soon I''m not sure how people are going to survive if they keep cutting jobs.

 

[jcarlylew82]

violet- i have many friends and customers at microsoft, so my heart goes out to all of your peers.
I am glad that you survived the first round, and am keeping my fingers crossed for !

 

[snlee]

I''m sorry to hear you''re going through this. Glad you were spared. I''m keeping my fingers crossed for you and lots of dust for that something else you''re working on!

 

[violet02]

Thanks jcarlylew! I appreciate everyone's support, means a lot.

And thank you snlee. I hope that works out for me. I'd be a lot happier in the long run.

 

[packrat]

Fingers crossed for you, too, Violet! Jobs are scary nowadays! The packing house my husband works at, that keeps our teeny town alive, is gearing up for a strike, which I think it completely asinine in this economy.

 

[WishfulThinking]

I''m glad to hear about the first round for you, Violet, and wish you more luck in the future.

I feel so terribly for everyone who is facing or has faced layoffs. It''s really a scary thing to lack the security of an income when the job market is so tough. Selfishly I''m terrified to be looking for a temporary job before I go back to grad school, and possibly even more terrified to apply to school since so many people are going back in to avoid the cr*ppy job market!

I''d love to believe the economy will pick up again soon, but it looks like it might be awhile. Good luck, everyone.

 

[violet02]

Date: 1/22/2009 8:22:02 PM
Author: packrat
Fingers crossed for you, too, Violet! Jobs are scary nowadays! The packing house my husband works at, that keeps our teeny town alive, is gearing up for a strike, which I think it completely asinine in this economy.

Wow! A strike? I can''t even imagine. That does seem ridiculous. I hope they don''t strike, good luck to your hubby.

 

[Dancing Fire]

Date: 1/22/2009 8:09:49 PM
Author: violet02

Date: 1/22/2009 8:04:25 PM
Author: Dancing Fire

Date: 1/22/2009 7:27:16 PM

Author:violet02

I posted this in the Norcal GTG thread but it was suggested a start a new thread which is a good idea.


Here''s my news from today.


-----------------


Just to give everyone an update (for those of you not following this in the news).


Microsoft announced 5k layoffs today. 1400 of the layoffs occuring today and 3600 over the next 18 months. Each division basically got a mail saying no cuts here or some cuts etc. I know MSN as a division is going to see some cuts (I''m under that) but our actual business group in it''s entirety was luckily spared from any cuts. So I''m still here!

violet

hope you won''t get hit with the layoffs,good luck !!


speaking of microsoft...today i bought more shares @ $17.70

Well isn''t now supposed to be a good time to buy? When it''s really low? Then hopefully it will go up over the next year. I wonder if it will bottom out even more, probably. My original strike price on my options (they give out ''awards'' now) was $25 and $27. I dumped all of it as soon as it was above water years ago. I''ve been through one split and didn''t make anything out of that one really. So yeah I probably would think twice about buying that stock, heh. Luckily last year was better so I was able to sell some at a decent price... stock awards that is. Those at least are fully paid for so we don''t get hosed like we did with options. I''ve been here 8 years and have yet to see some amazing stock deal.

they might reward you with some $5 strike price options.

i''m still holding some shares that i bought @ $29.98

 

[violet02]

Date: 1/22/2009 8:22:16 PM
Author: WishfulThinking
I''m glad to hear about the first round for you, Violet, and wish you more luck in the future.


I feel so terribly for everyone who is facing or has faced layoffs. It''s really a scary thing to lack the security of an income when the job market is so tough. Selfishly I''m terrified to be looking for a temporary job before I go back to grad school, and possibly even more terrified to apply to school since so many people are going back in to avoid the cr*ppy job market!

I''d love to believe the economy will pick up again soon, but it looks like it might be awhile. Good luck, everyone.

True about schools Wishful. I''ve a had a few friends that are considering doing that now. Others are going to live off savings and severance packages and hope to ride out the storm, pop their heads back into the job market in six months or a year and hope jobs are more plentiful. Honestly it feels like this is going to last a whole lot longer. I hope not though.

What I think is particularly rough is living in the bay area and the cost of living here. I''m so glad we spent our money on the wedding last year and didn''t try to cram a house into that equation. We''d be in big trouble if one of us lost our job and wasn''t able to get a new one.

DH works here too but his group is really good so they had no worries coming into today. Although two people at the same company isn''t necesarily a good thing. Might be best for us to diversify a bit in the future.

 

[violet02]

DF - Stock awards are paid for by the company and you are awarded them for free. So $0 is better!

Although you then have to wait for them to vest. Boo.

 

[Miranda]

I''m glad to hear you were spared. It is an unsure time across the board. I''ll keep my fingers crossed for ya!

 

[movie zombie]

yes, hubby was told the M* group he's with won't have layoffs.... however, i'm still going to be cutting back because management can always change its mind.

movie zombie

eta: hubby is rather private but i will say he's on a bay area campus...... apparently, Yahoo let go its research team in SF.

 

[WishfulThinking]

Date: 1/22/2009 8:26:45 PM
Author: violet02

Date: 1/22/2009 8:22:16 PM

Author: WishfulThinking

I''m glad to hear about the first round for you, Violet, and wish you more luck in the future.



I feel so terribly for everyone who is facing or has faced layoffs. It''s really a scary thing to lack the security of an income when the job market is so tough. Selfishly I''m terrified to be looking for a temporary job before I go back to grad school, and possibly even more terrified to apply to school since so many people are going back in to avoid the cr*ppy job market!

I''d love to believe the economy will pick up again soon, but it looks like it might be awhile. Good luck, everyone.

True about schools Wishful. I''ve a had a few friends that are considering doing that now. Others are going to live off savings and severance packages and hope to ride out the storm, pop their heads back into the job market in six months or a year and hope jobs are more plentiful. Honestly it feels like this is going to last a whole lot longer. I hope not though.


What I think is particularly rough is living in the bay area and the cost of living here. I''m so glad we spent our money on the wedding last year and didn''t try to cram a house into that equation. We''d be in big trouble if one of us lost our job and wasn''t able to get a new one.


DH works here too but his group is really good so they had no worries coming into today. Although two people at the same company isn''t necesarily a good thing. Might be best for us to diversify a bit in the future.

I''m glad some of the people you know have severance and savings! That''s really good. Since we have basically no savings we''re hoping S gets a decent stipend, and will probably base our decision about where she accepts largely on that. I am secretly hoping she doesn''t go to San Fran State because I don''t think we''d stand a chance with the cost of living. Yikes! It sounds like you and your DH made good decisions about money this last year.
Diversifying is great, but it''d probably feel like a lot more fun if it wasn''t accomplished through layoffs and coercion!

 

[Dancing Fire]

violet
tell Ballmer to buy YHOO for $14 per share.

 

[Deelight]

Good Luck Violet

 

[VRBeauty]

Violet: Hooray for a little good news, despite the uncertainty. I''ll keep my fingers crossed for you and your DH.

 

[Kaleigh]

Glad you were spared from today''s layoffs Violet. Hoping all goes well for you in the next 18 months. These are scary times for sure.

 

[strmrdr]

Date: 1/22/2009 9:43:51 PM
Author: Kaleigh
Glad you were spared from today''s layoffs Violet. Hoping all goes well for you in the next 18 months. These are scary times for sure.

ditto

I didn''t know you worked for the borg

 

[princesss]

Fingers crossed and lots of dust for you.

 

[Art Nouveau]

Violet02,

I''m really sorry to hear about the massive layoffs at Microsoft, but I''m really glad you still have a job. Let''s keep our fingers crossed that there will not be anymore layoffs and the worst is over. The economy has been booming so much the last few years, that people have forgotten about the possibility of loosing a job. But layoffs are actually a way of life in Silicon Valley. My DH has worked in high tech for many years before he retired. During his career, he has faced layoffs several times and his jobs were never secure. That''s one of the reasons I have to hang on to my somewhat secure job and I couldn''t take a chance to change career. I feel sorry for all the people that got laid off and I hope the economy turns around soon.

AN

 

[pjean]

Date: 1/22/2009 8:03:16 PM
Author: anchor31
Tough times.

Indeed. Hang in there, you guys.