Should we want for more, than head above water?
I think so. I think that we should be able to do more than just stop ourselves from drowning, do more than survive this life for a number of years, and then move on, having made no difference. What is the point of survival if we make no relevant change?
Of course, first and foremost, survival is necessary, and in the society in which we live, financial capability is the way it is done. When we face difficult times in the economy and people are being "let go", the impact it has depends on what the person has done prior to prepare, or what they haven't. A lot of us leave this consideration only until after we need it. It is like learning to deal with stress, when already stressed - not the best time.
I have been trying to set up for adverse conditions for several years now, but I am not there yet. At this pace, I reckon it is a couple years away before I could feel more comfortable if I lost my job, but that doesn't help me now if it were to happen. And in the current economic climate, that is a possibility, especially since a lot of tech companies in Finland are making cuts of convenience.
Essentially, once one or two companies make cuts, it gives other companies the opening to make their own, even if there is no dire need to do so. And, the timing is good for this, because the economy looks like it is struggling, but probably isn't struggling as much as it seems. Toward the end of 2024, it is likely to look much better in the economy, but making "business decisions" now can make it look like it was those decisions that led to better conditions, rather than the "natural" (the economy is engineered) change in the market cycles.
Not only this, a lot of the tech companies are also beholden to venture capital investments, which means there is a constant pressure to give a return, especially after a preset period of time. Getting rid of people helps the balance sheet look healthier.
But, in a place like Finland that has very strong labor laws, it is difficult to get rid of people en masse without good reason, like they do in the US. There is a long arbitration period (6 weeks or more), and lots of legal and financial considerations for companies to work through. This makes the process very expensive, and there can be a lot of blowback. But, when the economy is apparently struggling, it is easier to have the negotiations, which is why a lot of companies happen to "align" on their timing.
Sometimes, companies don't handle these kinds of periods well, making knee-jerk reactions, or lazy decisions like "ten percent from all departments", which indicates that there is no real business need for it. There is a case for restructuring however, which is often leaned upon at these times, but it has to be real restructuring, not just cutting headcount. As the markets change, restructuring is needed at times and also, some people aren't going to be suited to the new organization.
I am not overly concerned with losing my job, though there is always the possibility, and if this does happen, I am definitely not prepared enough for it. It would be a major struggle for us as a family and would likely force us to sell our house and consolidate. This is probably a better option than trying to hold on until we can no longer survive, and have to do this anyway. However, there is a little buffer there, so it wouldn't need to be immediate and, there might be time to get an interim job, like burger flipping, or filling shelves at the supermarket -if I am qualified enough without Finnish language.
Keeping head above water is not pleasant, yet it is the experience that many of us have - more so for the unprepared. And, I feel very unprepared, even though I have started a while ago. There hasn't been enough time to get all the ducks in a row, and keep more than our heads above water and eventually, hopefully, find dry land.
Times are definitely going to get a bit hairy for many people though, so it is foolish to think that I will be unaffected, even if the chance is slim. Eventually, everything has a knock-on effect and what we do now is going to be emphasized even more when the corner is finally turned. Being able to survive and make modest investments now, into something that will generate value later, can provide a massive windfall in the future.
All I know is that struggling to keep the head above water, but not learning to swim to shore, will eventually lead to drowning. I have heard it is a good way to go - but not when drowned in debt.
Taraz
[ Gen1: Hive ]
I want a yacht. Perhaps it is a bit bizarre wish because I don't want to travel anywhere. But having escape route from annoying people would be nice. In some remote island I would only have to worry that some idiots will nuke me out by trying nuclear weapons.
I saw a documentary a few days ago. Apparently humans fucked up some island by testing weapons and now it is radioactive(?) Stupid humans...
I know of a couple of people who live on boats, but don't go anywhere with it. Isn't it common in Amsterdam too? :)
Probably Mururoa Atoll, in the pacific - near Australia. The French at least were testing there in about 1995
Peddling heavily underwater like a duck only to look calm above is the problem of society. Everyone faces at some point, what makes one stand and pull through is heavily determined on that persons perception of life and how they manage money.
I love how everything you have written points at making it to a safe place despite how rough time are at the moment.
I wonder if there is ever going to be a period of "safety" for most of us, or are we always going to be peddling underwater?
I'm with you, if my wife or I were to lose our jobs, things could get pretty difficult. I would feel better if we were able to rely solely on one of them. Right now though, we need both incomes. I have a meeting today that I am going to attend for retirement. I have a feeling it is going to be very eye opening. I've known far too many people who thought they only had one year left, then found out they have at least two or three. I don't want to be in that position. It doesn't mean I will go, but I could, assuming the numbers line up.
Being able to live off one income would be fantastic! Not that I'd want to, but if push comes to shove. Retirement seems so very far away.
Come on crypto.
Yeah, it would make things a lot easier for sure. Actually, if we could make due off one salary, my wife likely would have changed careers a while ago. I have a feeling this next cycle still isn't going to be enough for what I need.
In my country, if you are a beginner, they can kick you off in two months due to the trial period.
The trial period at my company is 6 months, where either can leave. However, it depends on how long someone has worked as to how fast they are forced out, or can quit. Normally though, it is a pretty immediate arrangement.
Dear @tarazkp !
Currently, unemployment due to the economic recession is becoming an issue around the world.
I guessed that you are probably currently facing financial difficulties!
I pray that your difficult problems will be resolved!
While I have a job, I am fine.
Complaining for everything is not the solution. No doubt! We should have to survive in every situation. The time has special feature that is, time will travel onward either its is bad or good.
Time might stop - movement keeps happening!
We just have to survive no matter how hard it is and when you're talking about you not ready if you get fired at work, it is normal. If you ask a lot of people, you'd get the same response.
I'm glad that you're not scared of being fired even though you are not prepared. Just make sure that you put in your best and work hard.
I wish you well...
It has been 30+ years of this already - when can I rest? :D
It sucks but I have heard a lot of stories. They cut down people when the profit margins aren't there so their quarterly report isn't as bad. I don't think there is much you can do if they let you off but try to have some emergency funds to last you a few months. This will give you time to find a new job if you need to.
In software companies, the largest overhead, are the people. It is pretty much the only place they can make significant savings. However, it is also the place they spend the most on investment, and if the people aren't the right people, it is costly to keep them.
I once downgraded from one of the coding jobs all the way to the delivery job. I felt so bad, It was so basic and easy job but I felt the burden of "something", I sucked at that job. And had to push myself a bit more harder and now I am back in coding and saas world. It's not that jobs are on status basis type mindset I felt though that is a lot in here in asia. But I had this downgraded burden on head I sucked at simple job. I can't imagine doing burger flipping or hospitality mall jobs. I'd suck not because I cant do it but because of artificial stature on head.
Yeah, I get that. It is an emotional move, but at the same time, if necessary, I can swallow my pride. I also have a lot of experience in shitty jobs and I am good at them! :D
I have been working non-stop since I was 15, but one of the many crappy jobs was a couple years at McDonald's while going to university. I did both full time. I was a crew trainer there. While crappy, the people I worked with were nice and, there is still a satisfaction of doing a job well. It also allowed me to buy my first house whilst still at university.
Ever thought how much we have been held back, because of those artificial feelings?
I would suggest you watch "The Prestige" if you haven't. I think it is there where I heard that drowning is a pleasant way to go.
But going to the topic, it is really sad how tech companies are declaring high income, and yet are letting a lot of people go. I remember reading that you should have 6 months of salary saved up and ready for emergencies. I don't think a lot of people have or can afford to do that, and it is frightening.
For me it is more personal. my "heard" is drowning on my 8th birthday. It was calming. I didn't die at all though, as someone dived in at the last moment and fished me out, pumping the water out. However, just before I blacked out (I saw the person dive into the water above me), it was serene.
I definitely don't have 6 months saved. It would suck hard.
Oh wow, that's crazy. It was good that they saw you and rescued you immediately. I have heard that children drowning tend to be silent since they don't struggle as much.
I think only the rich do.
Well isn't this the sad truth. Fucking shareholders get preference over stakeholders every single time. 😭😭😭
But at the same time, they are the ones with skin in the game that enabled it in the first place. Workers have it pretty easy, since they don't (normally) have to take responsibility for other people in the organization, just themselves.