<p>so i'm currently working for the government and there was a decision made high up to lay people off. Its about 5% of the staff within the next few years. </p>
<p>I'm pretty worried even though the statistics are in my favour. I'm wondering how to deal with this, its all over the news but there is very little mention of it within my work. </p>
<p>should i ask my supervisor how my group is affected? I doubt he knows. i really want to know if i'm gonna get laid off soon so i can plan. </p>
<p>anyone gone through this before? advice?</p>
<p>how do i plan my finances when my job can be cut anytime with the next few years?</p>
<p>At my first job after college, we heard rumors that a layoff might occur. I did ask my supervisor, and he said, “No, you’re fine.” A few weeks later (four days after I found out I passed the PE exam), about 20 of us were let go (they got rid of our entire division). My supervisor was one of those let go. My husband worked for the same company, so we went from two engineering salaries to $0 in one day! They did give us five weeks severance pay, at least. We got temporary jobs after that. We were each laid off a few times during the 90s - that’s what prompted us to start our own firm in 1999 - that’s been MUCH more stable than working for somebody else.</p>
<p>You should start an emergency fund to prepare for the worst. Engineering pays well, but you need to plan. This advice holds true for ANYBODY these days.</p>
<p>I don’t see why you wouldn’t have savings anyway. My parents have been self employed for 20 years now and save like crazy. They started saving in the fifth grade for college for me and managed to save enough to pay all 4 years of tuition in full for me AND my brother. </p>
<p>Even if you only save like $20 a month. In 5 years you will have saved $1200, which can help you buy things like food if for whatever reason you lose your job.</p>
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<p>You would be surprised at how many people got themselves overextended borrowing for things that were way beyond their means, such as homes, cars, and so forth. That’s a large reason how the US economy got so screwed up – loanes that should never have been made leading to insolvent banks, etc.</p>
<p>This is why some of us recommend not going to an expensive college if they won’t give you any financial aid and you have to take out massive loans. The less financial obligations you have, the better off you will be in case you are without income. If you must take out college loans, pay them off as soon as you can. Don’t take on a new obligation (such as a house) until the college loan is paid off.</p>
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First of all, are you guys unionized?
If yes, this is the order how things are gonna progress:
-furlough
-golden handshake/ early retirement
-increase contribution to benefits from employees
-layoff</p>
<p>Depending on the size of the agency you work for, this may take up to a few years, which by then the economy will recover - although chances are the US is going down the drain and we are gonna implode anytime soon…</p>
<p>Secondly, it depends on what department you’re working for. if you’re working for a proprietary department (water, gas, electricity or ports) you’re fine. They can always jack up “fees” to cover for their deficit. </p>
<p>I work for the biggest municipal utility company in the US (LADWP) so I know how the game is played.</p>