Thread regarding Gulfstream Aerospace layoffs

If you ran your family like corporate America runs their companies

You see the news about the challenges created by Covid 19. You understand that it's going to be tough for the next little while. You look at your 401K and it's value has been negatively impacted. You realize you are going to have to make some changes. You can't afford to do everything you had planned to do. So what to do? What to do?

After thinking about it briefly, you realize if you throw some of your kids out of the house and let them fend for themselves, you would save money. You didn't really care that much for them anyway. After all, you have some other kids. Also, some of the kids cost you more than the other kids due to health issues or being old enough to have a car with insurance payments. Yeah, the older kids are often better at household chores because they have been doing it longer but the younger ones will figure it out and besides many of the chores don't have to be done as well as the older kids are doing them. If you do toss out a few kids, you can use their college fund for that new boat or car you wanted or maybe take a nice vacation. Things will likely improve in the next several months or year or so. If they do and you decide you want some more kids, you can just adopt new kids or just rent them periodically.

And this is why companies aren't like family. Don't ever let them tell you that and don't ever believe it. Families don't abandon family when the going gets a little tough.

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| 1261 views | | 4 replies (last May 12, 2020) | Reply
Post ID: @OP+14UGH66t

4 replies (most recent on top)

This had zero to do with COVID! Read the posts on this site. This was a well choreographed RIF with tons of input on reorganization priorities by managers. Geesh!!! You believe a multi billion dollar a year company is afraid of a virus?

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Post ID: @1lnv+14UGH66t

AAIA - you are possibly right. Things may get worse but unnecessary or too soon layoffs make it more likely. It would be better to reduce hours and other expenses and keep more people employed and paying their bills but corporate America is all about short term thinking and next quarters earnings and to heck with the disposable employees. The economy typically becomes a self fulfilling prophecy.

The current situation isn’t anything like the great depression or 2008-09. There were fundamental issues driving those two scenarios. That isn’t to say this can’t be as bad or worse but it’s very different in that this was self inflicted during a strong economy. Also, trillions of dollars of purchasing power has been injected into the economies around the world. The money that was already in the system is still there so the overall purchasing power has been increased significantly.

I do agree that it is too early to know what is going to happen but I think it is as reasonable to believe that things can be better a year from now as it is that it could take a decade to recover.

Last but not least, if you are confident you are right about things getting worse, short the market and you will have more money than you will ever need. No need to work anymore. As for me, I am hedging my bets that the recovery will be months to a year or two; not decades. Taking advantage of the over reaction in the market several weeks ago has worked out quite well.

No matter what happens, I hope everyone stays safe, healthy and lands on their feet.

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Post ID: @1zsw+14UGH66t

To make matters worse, the ag ops. in the midwest are questionable.

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Post ID: @1cdu+14UGH66t

“ Things will likely improve in the next several months or year or so.”

I keep hearing this. We haven’t had +30 million unemployed in almost 100 years. This is unprecedented. It might take a decade to rebound. In 2008-2009 crash we had 11 million unemployed, and that took 8 years to fix. Sorry, things are about to turn to the worst even to those that were able to (temporarily) retain employment.

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Post ID: @1zyj+14UGH66t

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