Downsizing & Layoff Season Is Here Now!

Brant Mathis



Sad to say but the celebration of Labor Day marks another occaision also. September is the last month of the 3rd quarter. Companies use September to make changes based on what has happened in the first 3 quarters of the business year. Then make changes to improve the last quarter (October, November, December).

That way they finish the year strong or with reduced expenses to try and hit the fiscal targets for the year. That means CUTBACKS, LAYOFFS, DOWNSIZING, BUDGET RESTRICTIONS. Those are the things that impact you as an employee.

About 320,000 job cuts are announced in this time period.

If your company is having obvious problems, like poor quarterly results, key executives leaving, a new owner, these could be indicators that something is going to happen. Are you noticing frequent visits by senior management, a slowdown in your industry, the rumor mill going nuts, or bad press about your industry? These could be indicators of downsizing on the way.

Key industries to be watching are anything related to the housing industry. Back in the 70's it took about 18 months for the high interest rates to stop building and then everything that goes into a home took it on the chin.

If you are in the mortgage business, things could get difficult.

Pharmaceutical sales types may even be effected because there are no new big deal drugs hitting the market. The idustry is also changing it's selling tactics.

The computer industry may even pull the plug on some jobs.

I suggest you begin to be observant at work and even ask pointed questions of your boss or supervisor about the future of your division, office or location. Showing concern for the company is not a bad thing, even though you may be more concerned about your own situation.

It's also a good time to begin thinking about other ways to increase your income or how you might insulate your self from sudden loss of income. Don't discount the work at home, internet marketing, online business field. You can begin to build a back up plan for your future, whether you are impacted or not. You being more in control of your income is always a good thing.

Copyright 2007 Brant Mathis. All rights reserved.

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