First Wave of Layoffs about to hit shore

[mommy4ever]

There was a meeting at work, and there will be layoffs next week. There is no indication of how many, or who yet. Dh said that in a closed meeting, they are talking non-ticketed staff, support staff, and apprentices are the first to go, as well as any marked troublemakers(they have a few). They are using it as an excuse to cull those out, as policy makes it next to impossible to fire.

So dh is safe for this round. His department is still busy, he had a machine down today(aka - rush order NOW). So that is good, for him.

Round 2 he should still be fine, as he's very versatile, but if there's a round 3.... scary.

The company went from 16 orders a month, to 3 in some departments, so it's being hit hard. They are only 1 of 2 companies in North America that do re manufacturing on these machine parts, so you'd think they'd be safe.

But with no construction, no infrastructure... they are being hit hard too. He's been there 8 years.

I'm terrified!

[lisettelovebug]

I am glad he is safe for now. We had a scare last month where they started asking for voluntary layoff, but come to find out that was only in one plant. So dh was pretty safe anyways. I guess the company actually announced this week that they are going to be expanding plant one. So that is good news.

What I would do is prepare now for the worst, just in case. Hopefully it won't get that bad, but you just don't know. sock away all the money you can, stockpile more, etc. I did up an employment budget last week and if dh got laid off we would be able to make it. Doing this budget and stockpiling makes me feel more secure if something does happen. We would have to give up cable and some other luxuries but we would be able to pay the mortgage, bills and eat. I also went and looked up some information on the state website and found out that if he were to get laid off (he would get the max in NY - a little over $400) that we would qualify for about $200 in foodstamps. That is actually about what I spend right now so we would be good with that. I am also thinking that if we qualify for fs we would probably qualify for medicaid, but I'm not sure of that. Maybe Canada has similar things. It would definitely be worth taking the time to look into.

[dcompton]

I had not thought of making an unemployment budget, but what a good idea. It would give you solid information for better planning.

I agree. Hope for the best, but start preparing for the worst to the degree you can. If the best happens, you can always eat and use up any stockpiled items, and money is savings will certainly never go to waste. I always find that in the face of uncertainly, I do best if I am as proactive as possible. Even if you can't do much, being as prepared as possible should help a little with the worry.

[phoeny_moonstar]

I'll keep you and your DH in my thoughts and hope he doesn't get layed off!

[mommy4ever]

We will be ok if he's unemployed. His EI would be 60%. I popped the numbers in, it would mean reducing the snowball some, and the savings plan some, but we'd be "ok".

I worry about his mental state. He won't get another job that pays as well. He'll go back into a field that he hates, as there is no choice right now. The biggest kick in the @ss will be that I make more being a SAHM working from home, than he will working full time I'm not sure how he'll deal with that. His mental state is what scares me most, I've dealt with him in depression once and it was exhausting and terrifying.

I have a tentative plan of taking in families that work night shift, to bridge the gap. But I just want him well.

[Dancing Lotus]

Big hugs...plan for the worst hope for the best.
It sounds like he is a good position and it may never happen. Best wishes

[homesteadmamma]

I heard last night that Alberta is in trouble, meaning a whole lot worse is yet to come for our country. It's not good news. Where Alberta goes, Canada goes....there is no ifs, ands or buts about it. We might like to think otherwise, however it's so true. It's not looking good right now.

I hope your dh can hold on to his position. It is very scrary out there right now.

[peanut]

Mommy4ever: {{{Hugs}}} I suffer from Seasonal Affective Disorder and all I can say is my DH is a saint for having to deal with my depressive episodes. Mind you, he can have some doozies of his own! The big thing is to talk about things, to do constructive things together, to get out every day into the sunshine...if there is any (I seem to recall you're in the calgary area?).

Your DH needs to disconnect from his job/career emotionally. His identity is not his job/career. He is a unique and valuable and special person just because he exists...not because of anything he does or doesn't do for a living. You do what you have to to make ends meet.

I know what you mean though. When DH was unemployed and we lived in Airdrie, he went into a depression. It was my first year of homeschooling and I told him I wanted him out of the house by 9 am every morning so I had no distractions when I was schooling the girls. He didn't like it at first, and was pretty glum. He hung out at the library in Calgary.

But, eventually he came to see the opportunity to refocus. He found a group offering personal development for professionals courses and signed up for it. He really got into what he was learning. They were telling him the same things I was telling him at home. But he was listening to them. He wasn't to me.

I just did the best I could to keep the home fires burning and stretch the dollar as far as it could go. I managed to stretch 6 months of UI and 3 months of severance into 18 months of living before he got his next job.

In retrospect we liked that extra time with him. He came home in the afternoon and evening and we had a good time as a family. Because he wasn't in the house and was in Calgary, he had nothing to do but mope or apply for jobs. He applied for jobs.

I'm with the OPs, I'd be preparing for the worst - financially, emotionally, spiritually, physically. But expect the best.

{{{Hugs}}}

Jean

[mommy4ever]

I heard last night that Alberta is in trouble, meaning a whole lot worse is yet to come for our country. It's not good news. Where Alberta goes, Canada goes....there is no ifs, ands or buts about it. We might like to think otherwise, however it's so true. It's not looking good right now.

I hope your dh can hold on to his position. It is very scrary out there right now.

I'm very thankful to be doing a dayhome right now. There is still a huge shortage of daycare spots here. I will be able to carry us through this.

I'm in AB, and it's starting to hit here, for us. We're going to be really cinching the belts, tucking away stuff into savings. Dh would get a severance package. They did a plan closure in Ontario, and those workers got 4 weeks for the first year, and 2.5 for each week there after. That would give dh 21.5 weeks of full pay. I"m not sure how EI works if you get severance. But it could go a really long way if we get the same here.

Anyone know how Ei and severance work?

[peanut]

Severance comes from the employer. It's aimed at laid off managers. If they lay them off without just cause, they're entitled to severance. At least, that's my understanding from DH's situation. Not all companies do it though. And I don't know how you'd discretely find out if your DH's company does it.

EI takes awhile to kick in. I'd suggest having 2 months worth of expenses in an EF somewhere to tide you over till it does. You have to apply as soon as you leave your job...not before. So it's imperative he get to the offices early the day after his last day of work. Sometimes there can be a long wait to see counselors to fill out the forms. And they have a wait period that starts from when you apply...I think... at least, they used to. Not so sure now. Maybe someone has more up-to-date information on EI in Canada? My info. is 15 years old now!

[mommy4ever]

Based on the articles on the company, they do pay a severance, they are a good company.

Apparently, you can only collect the EI once the severance amount is gone, as in how many weeks.

[Grayce]

My DH just got laid off on Wednesday. In Ontario you have 4 weeks to apply for EI after you are laid off, so he doesn't have to rush down there the next day (and in Ontario you can actually do a lot online). After you are laid off there is a unpaid 2 week waiting period until you start collecting unemployment. It can take several weeks to actually receive your first EI cheque. The toughest time money-wise is waiting for that first payment because it may take 4-6 weeks to get it (but it would be a larger payment because they put all the weeks on one cheque to catch you up, then all payments come regularly). Severance pay can delay the start of EI payments but I not sure how they figure that out.

[Debbie-cat]

My DH just got laid off on Wednesday. In Ontario you have 4 weeks to apply for EI after you are laid off, so he doesn't have to rush down there the next day (and in Ontario you can actually do a lot online). After you are laid off there is a unpaid 2 week waiting period until you start collecting unemployment. It can take several weeks to actually receive your first EI cheque. The toughest time money-wise is waiting for that first payment because it may take 4-6 weeks to get it (but it would be a larger payment because they put all the weeks on one cheque to catch you up, then all payments come regularly). Severance pay can delay the start of EI payments but I not sure how they figure that out.

So sorry to hear your DH got laid off. Hopefully he will find something else soon. Sending best wishes and you are in my prayers.

[mommy4ever]

Dh just called, he was in a managers meeting today.

Semi-good news.

He is NOT laid off this wave, and if there is a second wave, he is NOT in that one. IF there is a second wave, that will be in a few months.

Now if there is a 3rd wave, it will likely be a plant closure.

That said, they have picked up a new contract, this is EXCELLENT news. That means work for the techs.

So we have 6 months to work hard and getting rid of debt, and building savings.

I just spent time, working out a budget. I'm cutting what he's earning by 185 a week. This is going straight into savings. Plus I have savings from my income being put aside. AND still have a snowball to continue getting rid of debt. The less debt there is the less we are paying each month. So I'm doing it both ways. Continuing to pay down, but saving just in case. I'm also cutting variable spending so that we can do both.

Need to set up the jars for next week and get started.

[rainbowgc]

I hope everything works out for your family