I got riffed in 2009, from a large Minnesota facility. This was after many years of employment (dating back to MPI) and many years of riff rumors. In the old days the riff events typically happened at 2.5 - 3 yr intervals. Occasionally I look at this forum to see whats going on at Seagate. It has not gotten better. In fact its much much worse. It seems there is now a continual rumor mill. A continual looking over ones shoulder. Layoffs happening everywhere at very short intervals. That is one aspect of Seagate which I do NOT miss. 3 year intervals were one thing. At least when the action was over, you knew you were safe for another 3 years...but now?....the continual layoffs....man its got to weigh on you. Do you dare sign on the dotted line to buy a house when your job may go poof next month? Start a family? Buy a new car? Go on a vacation? I know, I know...you cant put life on hold for fear of a job...there are always other jobs. Right? It depends. There is life after Seagate. Hind sight is 20/20 but if if I had it to do over...id be searching for a new job, one which is more secure...while I was still employed. Be in control of the situation, be in control of your life, rather than let Seagate control how your life goes. The only downer...is if youre a long time employee you lose the severance pay. If youre there 10 years or less...it would probably be a good idea to keep your eyes peeled for other job opportunities. Be proactive. Have something in your back pocket. It really diffuses the stress of the layoff rumors when you've got a plan. Best wishes.
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Saving plenty of money does not prevent that person from worrying. It is a natural human tendencies. Layoff in any company to any person whether you saved 10 years of savings or not, still cause anxiety.
In Facts, saving a lot of money cause you more concern. The more treasure you have, the more you want, to safeguard it. Matthew 6:19-21.
Also, need to keep your eye simple.
I was laid off in 2009 and I cannot be happier today. No longer do I have to live in the high tax state of MN or deal with the crazy weather. There is life and success after Seagate - you have to have the funds to be able to start a business ; will never work for another company again. My income is over 900k a year and I am really adding value to my customers and loving every moment of it. This year I am confident that I will surpass 3 million a year with a return in my pocket of over 80 percent of the revenue. So get out there and find someone who can use your untapped potential and skills. Get out there and try new things.
I was laid off in 2009 and I cannot be happier today. No longer do I have to live in the high tax state of MN or deal with the crazy weather. There is life and success after Seagate - you have to have the funds to be able to start a business ; will never work for another company again. My income is over 500k a year and I am really adding value to my customers and loving every moment of it. This year I am confident that I will surpass 1 million a year with a return in my pocket of over 80 percent of the revenue. So get out there and find someone who can use your untapped potential and skills. Get out there and try new things.
Live the Mr Money Mustache lifestyle and all will be good.
In the same boat. started in 2005, was in shock over 2009 rif, pay cuts. I save 50% easily. I was living paycheck to paycheck. Now I have saved over 10 years salary. I dont give a f--- if Im riffed now. No fear.
Should read riffed in 2015.
Could not agree more with the above 2 posts. Rifled in 2015.
I hear you. I'm sticking around for a severance check that would be close to a year's pay and keeping my nose to the grindstone and making a difference wherever I can. I decided many years ago, I wouldn't ever complain even if asked to do something that wasn't really my job. I enjoy the work. The people, can take or leave some of them. Since 2009, I learned a lesson and I reacted by saving 30-40% of all my income and living significantly below my means. I have a 12 year old vehicle that I learned to fix and maintain myself by watching youtube videos. I haven't flown for a vacation trip since 2009. I've not got a respectable wealth stockpile now. But your point that the layoff environment changes your life is correct. It should change you and open your eyes to the fact that not much separates a big shot engineer from the rest of the Wal-mart shoppers if you live at or beyond your means and then lose that income.
I decided in 2008 to take control of my life away from my Seagate. At the time I had less than a month's salary in savings and had home and car loans. My goal was to save a year's salary that would go with my severance should I be laid off. Today, I have three cars paid off, my home paid off, and far more than a year of salary saved. There are a lot of blogs out there that tell of people's stories of how they retired early. I applied a lot of their tips. http://rockstarfinance.com/best-early-retirement-blogs/