ANSWERS: 7
  • Yes. My company has already laid off people. I gained responsibilities from another manager who was let go and will probably loose at least one of my staff in the next three months.
  • Let's see, where can I begin ... As a Realtor, I have had six sales collapse due to constantly changing underwriting guidelines since the first of the year. I have had well-qualified customers endure two month delays in closing FHA loans. I have reduced prices on builder's models by 25% (over a million dollars on current listings) ... and they remain unsold. I have performed BPOs (Broker Pricing Opinions) on several foreclosed properties at half of the previous sale price -- or less. I have seen one mortgage lender after another go bankrupt due to the cost of foreclosures and short sales (that drained their cash reserves). Many banks are now paralyzed and are afraid to lend to all but the most qualified borrowers. I have seen many builders driven out of business due to carrying costs of unsold inventory. I have also seen seasoned Realtors and Loan Officers leave in disgust a business that they once loved. It has not been pretty. Hey, but gas is down to $2.49, so not everything has been bad. ;-)
  • Being retired, it has effected my 401Ks more than anything else.
  • No, my boss specifically said this week that our company will not be affected by the economy -- but it will change how we do business with other companies.
  • No, because I work in a hospital. Believe me, I've thought about that, too.
  • Do you mean recession? Yes, I have more time to relate to others.
  • My job has already been outsourced, so the recent events weren't a part of that. The company I work for now had already announced huge layoffs within the next 2 years, over 20,000 jobs will be lost. This week I had to fill out 3 forms detailing my skills and my most recent resume. We know they are looking to lay off as many people as possible as soon as possible. It was announced to us last month that the payroll expenses were far higher than they planned for.

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