I am a SAHM and my husband's last day at his job will be 4/27. He gets 6 months severance with full benefits, thank God.
He also has a career placement service given to him and many other contacts to help him look for a new job.
My husband has an Executive MBA and worked in the IT sales industry. Last year he had two very nice job offers but couldn't leave his current place of employment b/c they paid for his graduate school ($80,000!) and he was bound to work for the company for 2 more years after grad school. They made a big investment in my husband, but now are reorganizing their sales team - so bye bye!
So, I am thinking the worst. It makes me sad to think of us going through our savings. The good thing is we have no debt - no credit cards, just one car payment and our mortgage.
I would like to know if you or anyone you know have recently gone through this and if you/they found a job? The news makes it seem so bad out there - like getting a job is impossible. I am sure some industries are better than others - like financial or mortgage companies are a tough market.
I am also updating my resume and am fully prepared to work while he is out on severance. He can play Mr. Mom for some time. I have a MEd. and was a school administrator, but I made half of what my husband made.
Any advice, encouragement, words of wisdom is appreciated. Today is a bad day and I am teary and in a panic. Some days are good...others are bad. My husband isn't nearly as worried as me. He thinks he has a great background and education to land him a job. I don't doubt his experience, what I doubt is the actual possibility of what is out there.
I know exactly what you speak of. My husband works/ed in the IT field, project management. He was let go back in November. He also got a good package...but that is over now. We also are debt fee, except one car payment and mortgage. I also hate the idea of using our savings....but what are you going to do?
I am so thankful for that savings. I don't know what we would have done if there wasn't any!
My husband is looking and applying for jobs that are posted....just not that many out there.
I know that God has a plan for us...I just hate waiting to find out what it is. I completely understand that some days are better than others. I also feel that way. Try to keep a good thought! PM me if you need to vent or just "talk".
The only advice I can think to give you is to find things in your budget to cut now, rather than later. For example, if you've got a lot of cable services (i.e., digital, DVR, etc.), cut back and try and make your bill smaller.
And, if it all works out, your DH will have a new job and you can go back to those amenities.
Either way, good luck!!!!! I hope he finds something soon.
Sorry this has happened! This happened to my DH 3 years ago. He was given a similar package to yours, if he chose to stay for the end date which was several months away.
The thing is that even though there is a high employment rate (8%) that means 92% are still working! You have 7 months to find him a new job, and he will. (From now, to April 27 and then 6 months severance.) I know it is terrifying, but I am sure it will be OK and may even e better in the long run. For us, the layoff meant a new job, which meant new skills, which eventually meant higher pay. I'm a SAHM as well so I understand the fear of your only income being gone. Just pray and have him look under every possible rock, and I am sure you will be fine.
Cut your expenses like cable and eating out and pocket the difference.
Well, I can share what my mom went through when we were younger. She was a single mom and had no help from my dad or the government...a very determined woman who did her best to provide for my sister and me as best she could. She worked 2nd shift and her workplace was about 45 min away, so that meant no school recitals, no time spent with her kids, etc. She was laid off from her job and had little hope for making ends meet....so she thought. She was hired in a furniture factory (not exactly a glorious living, but some $$ nonetheless) to work a production job (first shift...Yay!). She did her best at that and looked for ways to improve her status. A little while went by and the owner talked to her about a management position. Fast forward a few years and she is still in management but at a different place and makes a comfortable living for herself. My sister and I were so glad to get to spend the evenings with our mom, because we couldn't before.
Bottom line...she thought losing her job due to layoffs was one of the worst days of her life, but it turned out to be a blessing in disguise. I hope this is the case for you.
I always try to find someone else worse off than me. For example....at least you have your health, aren't up to there in credit card debt, are educated, etc. I hope that helps you some.
Awww...thanks everyone! Yesterday was such a bad day for some reason. Today is starting out better. I guess it didn't help that yesterday I was watching a past Oprah show with Suzie Orman (from last week) and she was talking to people who had great jobs but could hardly make ends meet since losing their job. It is just so scary out there.
Some good news, my husband has an interview tomorrow for a really good job. He applied yesterday, and got a call within an hour for an interview. We will keep our fingers crossed.
Thanks for your support - and Ohara, best of luck to your family as well. Summer, glad your hubby found a new job. How long did it take him?
We are good with our money and know to cut out the phones, cable, etc. if we need to. We will even go down to one car if needed. We have enough money in savings to live on for a year - that doesn't include our 401K if we get REALLY desperate.
That is good news! I hope all goes well.....keep us posted.
omg - first - complete hugs and good vibes going out to you.
Second, I have a good story - at least I think it is Got laid off in Nov. 2006. After working for 10 years, decided I would take a break and do some soul-searching. Well, long story short, I was off work for 6 months, but I got to rediscover what I loved - brushed up marketing skills (I had focused on journalism prior), got to volunteer more, and more importantly started up my cake business! Although the cake business is still on the side/part-time, I couldn't be happier (for the most part - personal/family issues.) But I love my full-time job. It's close to work, great co-workers and better pay.
Everything happens for a reason. At first I was a bit hesitate to take this job because it wasn't want I studied, but wow - I've been able to do more marketing, some sales and a little bit of everything. There's never a dull moment.
I believe all things happen for a reason. It may take awhile to figure out the Master Plan, but it's there.
Between hubby and me, we've been thru 4 downsizings in the last 12 years. The first one was his and it was the most traumatic thing he'd ever been thru ... it was the first time he'd ever been layed-off and he had no idea how to handle it. I think that's the hard part .... if it's a first time lay-off, it really affects the person much differently than those who have been thru it before.
The positive side ... our daughter was about 6 months old; he had a 6 months severance package and he got to be a stay-at-home dad for awhile, something not many guys get to do. Then after the severance package ran out, he collected unemployment and looked for a job.
My 2nd downsizing put me on the path to having my own shop. There were about 4 jobs between that downsizing and now, but as we look back, everything I did, every job I took, was prep work for this business.
While it can be a stressful time period, just keep looking forward ..... you never know when that opportunity will pop up in front of you!
Sorry I don't have a positive story to share, but reading others' is certainly inspirational. DH got laid off two weeks ago too. Unfortunatley, he only got 5 weeks severance, which makes me very nervous. First thing I did was ask my boss if I could work 40 hrs a week for a while and then i made a budget!! Unemployment pays so little that you have to track every cent in and out! DH has had a few job offers, but nothing in his field and at less than 1/2 his former salary. We are on austerity - nothing gets purchased unless it's a necessity.
But I too believe that things happen for a reason. That which does not kill me makes me stronger!
I hope your DH's interview went well and he'll be getting an offer soon!
The auto parts plant my BF and I worked at gave notice in Sept that they were shutting down operations. I knew ahead of time (I was in accounting) and since I was a temp, I was already looking for a job. I interviewed two days before the announcement, got a call on Columbus Day, moved 75 miles Nov. 7th, and started my new job in Captive Insurance Accounting on Nov. 9th. Good for me, though, since the new job is my first salaried job, with FULL benefits.
My BF hasn't been able to find a new job. He lives with his parents (takes care of his mom, who has advanced MS), and is working on the home Christmas tree farm full time, starting next week. So, from Christmas to now I've been able to have him all weekend, every weekend. But now, he has to go to work, so "couple time" is being cut drastically . He holds a bachelors in engineering, so he can get a job when the economy picks back up. Until then. since we are in a long distance relationship (2 hours apart), I am paying his cell phone bill, and we're making the best out of a (somewhat) bad situation.
There are three of us in my home who has been laid off. One collects unemployment for about one more month. One is 5 months pregnant and can't get work. I love to make cookies and candy bouquets, so I am trying to market these on the internet because I can't get a licenses to do this out of my home (of course my home is way cleaner than resturants. go figure) but, I was told I could do a internet business and they won't regulate it. So I am trying to get it up and running. I even built my website my self through doteasy.com, If you have anymore hits for me please let me know.
My husband was laid off April 2008. We thought it was the end of the world.
He filled out the unemployment paperwork, and became eligible for a work force act where they paid for him to go back to school to get his bachelors degree.
At first we were shocked by the little amt he was getting from unemployment but when we added up the gas he was not paying to drive to and from work and to all his sales calls, daycare we didn't have to pay anymore (right there that totals a savings of over $300 a week) plus, lunches, work clothes and other misc. expenses, we actually came out ahead of when he was working.
Then because he was doing the school thing, as long as he was going to school he didn't have to look for work.
Then in Jan he had the surgery for the brain tumor and then died in March from a pulmonary embolism. Just before he passed away he had been approved for Social Security Disability, now the boys are eligible for survivor benefits.
But, the best thing about his being laid off: He got to do the things he loved the most, he wasn't working at a crappy job he hated, he spent the last year of his life with the most important thing to him, his boys and he got to go back to school, which he really wanted to do.
So, I thank the company that laid him off (no severance package even, no insurance coverage and he lost his $200.000 life insurance pkg) but he did have a good final year. So for that I am thankful.
I am so sorry. It was bitter sweet about your husband being laid off. I wish you and your childern the best. what are you doing now?
I was let go from a position a few years ago. It sucked because I worked hard to get there....and I was making crazy money for my age at the time. It was tough for about 6 months...but then I found the best job ever PLUS I started to really focus on making cakes a business. It's about 2.5 years later and everything is finally starting gel....but if that hadn't happened, i wouldn't have this blessing of a job, nor the time to develop my cake business. I think I'll be able to fully support myself with it in a couple of more years.
I am so sorry. It was bitter sweet about your husband being laid off. I wish you and your childern the best. what are you doing now?
I am still working for Kroger. They have been amazing. I am waiting for the kids Social Security Benefits to come through for us.
Financially we'll be ok. Emotionally it will take longer to get to the ok stage.
Everyone has told us "Everything happens for a reason" and "you'll be ok" etc. etc.. etc...
But I really didn't believe that until I read the online blog of a family similar to ours that went thru the same thing at the same age as us except he went thru till the bitter end. The things that family went thru and the medical problems and pain he went thru made me realize that, if I had to lose him to this terrible disease, there is no cure right now and there wouldn't be in his lifetime, I am grateful he didn't have to go through it.
Oh my gosh, Barb! I am so sorry for your loss! What a heartbreaking story. My thoughts are with you & your family!
Barb, best of luck to you. Thank you for sharing your story.
I got laid off 5 years ago, after working with AT&T for almost 18 years. I was lucky, I had a great severance package. Even luckier that I found a job at UPS doing the same thing i did before with about 20 of my former AT&T coworkers in about 2 weeks. I'm lucky that I didn't have to struggle to find a job at that time, but it has been tough. I make about 20,000 less a year. Not to mention losing all that vacation time. Because of the huge difference in salary i've had to go through a lot of the money I'd saved for retirement. But, it could be worse...I'm grateful that I found this job. I know quite a few people that weren't as lucky.
I just wish they would do something to stop the flow of high paying jobs going to other countries. It tough when all the $70,000 IT jobs go to India, to someone who is making $12,000 a year. And people in the US are having to work several jobs to make ends meet.