The world of the laid-off techie.
"Human resource experts say the underemployment trend in the current economic cycle is just starting to emerge. Many workers got the ax when mass layoffs peaked in the summer and fall of 2001, and they coasted on several months of severance and unemployment insurance, which generally lasts six months. With the tech job market still in the doldrums, they're now considering new gigs as waitresses, bartenders, forklift drivers or baby sitters--anything to pay the rent. " I wish the media hadn't/didn't focus so much attention on the suits who seem to only be able to "fail upwards" versus the folks in the trenches. (via /.
The American Worker:
Labor Day is coming up, so its an opportune time for the AFL-CIO to release a poll saying how unhappy workers are. But is this just a by-product of a (basically) stagnant economy with the drumbeat of layoffs ever present, business running roughshod
over their employees, employees not realizing how good they have it - ready to sue at the drop of a hat
, or business as usual? (plus: Unions in Hollywood doing their own thing
Cuts in interest rates don't seem to be helping. Layoffs persist (and not just tech/dotcoms). The market bounces
, but can it sustain itself
? Some say the market will rebound in the 2nd quarter of next year, but these are the same people who saw an uptick coming this fall. Are we headed towards a recession
? Lucent even had to sell their golf course