Very unsettling news...

MamaBear904

The (big) company I work for laid-off 420 employees yesterday. And though I was not impacted directly by the change, it has me feeling very nervous about my future with the company. My position, though it is an essential role, there are several of us doing the same job. Meaning they can afford to lose 1 or more of us. The lay-offs were not due to financial issues, so Im not worried from that standpoint, they're doing it to streamline expenses and capitalize on the profits. They want to take over another company soon.

This has me feeling very uneasy about my future here. Furthermore, I am concerned that we may need to recosider our honeymoon and our plans to go to Europe. This trip is going to run is appx $6000. Though I highly doubt I would become unexpectedly unemployed or remain uneployed for long, it seems foolish to continue with these plans. Especially because we technically haven't booked anything yet.

I just dont like this feeling and my mind is reeling from all the changes here.

bburkel

My extremely large company went through a similar thing about a year ago.  They laid off about 2,000 globally (1-2% of our population).  Same situation where my role is a vital role, but in my case, I'm the only person who does my job, so I'm fairly secure.  But, it got me thinking that I may not see my regular pay increases that I've become accustomed to.

As far as cutting back on your honeymoon goes, it's up to you.  If you are on good terms with your manager, I'd maybe express your concerns to them and get their feedback.  the least they can do is let you know if they anticipate any cut backs in your area. 

If you have already included your honeymoon in your budget, and you feel you can cover it with where you are at now, keep the plan.  Or, you could postpone the honeymoon until further after the wedding.

beckyh77

I wouldn't blame you. I suppose the practical thing would be to postpone the trip to Europe just in case you need that money to pay bills.

Krikin22

I'm so sorry to hear this! If you think you can afford the honeymoon as long as you keep your job maybe you should just get insurance, you should be able to get something that refunds all expenses if you lose your job and have to cancel the trip.

MamaBear904

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-club-boards_may-2013-weddings_very-unsettling-news?plckFindPostKey=Cat:Wedding Club BoardsForum:ea657a87-d1dc-4588-999f-31c9deeef720Discussion:ea4e167f-3b23-427a-89e1-a8b851fc9f36Post:9f108ed2-b7dd-4791-bec9-deb336582d5d">Re: Very unsettling news...</a>:
[QUOTE]I'm so sorry to hear this! If you think you can afford the honeymoon as long as you keep your job maybe you should just<strong> get insurance, you should be able to get something that refunds all expenses if you lose your job and have to cancel the trip</strong>.
Posted by Krikin22[/QUOTE]

This is a really good idea. I didn't think about Insurance. Hmmm.

Swazzle

Yikes, that's definitely scary. Hopefully it ends up working out and you'll be ok.

Good idea with the trip insurance though!

MamaBear904

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-club-boards_may-2013-weddings_very-unsettling-news?plckFindPostKey=Cat:Wedding Club BoardsForum:ea657a87-d1dc-4588-999f-31c9deeef720Discussion:ea4e167f-3b23-427a-89e1-a8b851fc9f36Post:34655c40-3897-401b-acfb-2687aab343a2">Re: Very unsettling news...</a>:
[QUOTE]If you are on good zterms with your manager, I'd maybe express your concerns to them and get their feedback.  the least they can do is let you know if they anticipate any cut backs in your area.  If you have already included your honeymoon in your budget, and you feel you can cover it with where you are at now, keep the plan.  Or, you could postpone the honeymoon until further after the wedding.
Posted by bburkel[/QUOTE]

Though we have a budget established, we were expecing our pay to pay for it. If I lose my job, then we'd be s*** out of luck. However, I like the idea of travel insurance.

As for my manager, we do have a good relationship, however she has even admitted that though she wants to support us and talk to us, there are some areas that she cannot comment on and that alone has me feeling concerned.

SSaltzman87

Wow! That really sucks. 

I too like the idea of trip insurance, but it's not a bad idea to cut back just to anticipate the worst happening. Don't wanna be scrambling at the last minute to get funds together, KWIM?

TogetherPerfect

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-club-boards_may-2013-weddings_very-unsettling-news?plckFindPostKey=Cat:Wedding%20Club%20BoardsForum:ea657a87-d1dc-4588-999f-31c9deeef720Discussion:ea4e167f-3b23-427a-89e1-a8b851fc9f36Post:e18f508f-52b1-498a-82b2-2b790e99daa3">Re: Very unsettling news...</a>:
[QUOTE]Wow! That really sucks.  I too like the idea of trip insurance, but it's not a bad idea to cut back just to anticipate the worst happening. Don't wanna be scrambling at the last minute to get funds together, KWIM?
Posted by SSaltzman87[/QUOTE]
I agree with this. Hopefully everything works out to be ok, but FI and I always play it safe by assuming the worst in situations as these. <div>Do you feel nervous enough that you should start at least browsing for another job, just in case something did happen?</div>

MamaBear904

Oh yes, Im already putting feelers out there for other opportunities. I definitely don't doubt that I'll be able to find something, I was just hoping to wait until after the wedding to actively look. Im just having to move that up a bit.

melb2013

This makes me so happy I'm self-employed... I may loose some income, but never all of it in an instant.  I have much more control over my financial future.  I would consider postponing booking the things that can't be refunded like plane tickets.  Hotels can be refunded, so you could book that.