Time to tighten the purse strings!

Well the New Year has got off to flier! The wife found out yesterday that her hours were being cut to twenty hours a week and I found out today that the company we do logistics for is cutting it's workforce by 260. This on top of the 200 they got rid of before Christmas.

http://news.bbc.co.uk/1/hi/northern_ireland/7817900.stm

This is obviously going to have a knock on effect on us, as we're not going to be shipping as many generators this year but as of yet we don't now what numbers the company are considering cutting the workforce by!

I know how you feel. all over the US people are getting laid off also...including my self and my husband.

My way to fix all of this is to bring back the barter system, don't buy...trade.

Trade, freecycle, or buy used.
A lot of us have had to cut back on spending, and I've advised friends to cut back even if they haven't lost their job yet. Might as well get a nest egg up in case something does happen.
Best of luck to you.

My hours got cut back to 32 per week back in november, and we have downsized over 50% over the last year.

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Originally Posted by JamieC

I know how you feel. all over the US people are getting laid off also...including my self and my husband.

My way to fix all of this is to bring back the barter system, don't buy...trade.

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Aye, it's not going too well at the minute, for the whole world I mean but it's not the end of the world. We've been here before and got through it ok. You can't let situations like this get you down. That's why you cover yourself with insurance just incase you find yourself at the mercy of recession!

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Originally Posted by wolfy-hound

Trade, freecycle, or buy used.
A lot of us have had to cut back on spending, and I've advised friends to cut back even if they haven't lost their job yet. Might as well get a nest egg up in case something does happen.
Best of luck to you.

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We've been cutting back on all unnecessary spending and selling off any stuff thats of no use to us. All credit cards have been cleared and cancelled, along with, as you suggested, getting a wee nest egg up and running just incase :gj:

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Originally Posted by brainman1000

My hours got cut back to 32 per week back in november, and we have downsized over 50% over the last year.

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Everybody's feeling the pinch in one way or another but it's not as if we'll starve. Just need to sit tight and let this blow over, although it may take a while :(

Well, we all got called into a meeting on Friday afternoon, expecting to hear the worst, but found out that our jobs are safe for the foreseeable future, as the orders are still coming in but the hierarchy are going to start streamlining by paying off supervisors and managers first!

About bloody time too! Too many chiefs and not enough Indians, which is usually the case for most factories. It's not nice to see people lose their jobs but in my workplace jobs were just created for people because of who they were and who they knew, rather than if they could perform at Supervisor/Manager level.

As I am getting out of the Corps this month we started to tighten the budget a few months ago, and went from putting 10% of my paycheck away to puting 15% away. The job I am going to should be stable, but a lot of the oil companies are cutting their exploritory drilling, so TranOcean may end up making some cuts. But they do have three new builds coming out in 09, so it will prove interesting. Might have to look at taking a second job during my two weeks off every two weeks.

Dad always told me to keep a slush fund put away that is equal or greater than three months of pay. Hopefully we won't need to use it.