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UCGal
ParticipantGiven your family situation – I agree with your wife – she has a job. A very important one.
But stress will kill you. My husband was working on a very stressful job – his BP was where yours was. I talked him into quitting and getting a different job. It was 4 years ago – and a different job market, though.
Like you, I’ve got 9 years left on a 15 year mortgage. Unlike you, I’m older, with younger kids. We’re looking at retirement coincident with college. There is no way I want a mortgage in that time frame.
You need to do something – you’re no good to your kids and wife if you stroke out. I see your options as:
– change your stress levels by adjusting your work load.
– take out very healthy sized long term disability insurance and life insurance – so if you do stroke out your family is still taken care of.
– change your stress levels by reassessing your finances.When you bought the house – did you think the mortgage that you took out was too big for your budget? Or did things change in the meantime? You planned on paying it on this schedule, what changed? The value of the underlying house is really irrelevant if you bought the house to live in – not as an investment.
ParticipantGiven your family situation – I agree with your wife – she has a job. A very important one.
But stress will kill you. My husband was working on a very stressful job – his BP was where yours was. I talked him into quitting and getting a different job. It was 4 years ago – and a different job market, though.
Like you, I’ve got 9 years left on a 15 year mortgage. Unlike you, I’m older, with younger kids. We’re looking at retirement coincident with college. There is no way I want a mortgage in that time frame.
You need to do something – you’re no good to your kids and wife if you stroke out. I see your options as:
– change your stress levels by adjusting your work load.
– take out very healthy sized long term disability insurance and life insurance – so if you do stroke out your family is still taken care of.
– change your stress levels by reassessing your finances.When you bought the house – did you think the mortgage that you took out was too big for your budget? Or did things change in the meantime? You planned on paying it on this schedule, what changed? The value of the underlying house is really irrelevant if you bought the house to live in – not as an investment.
ParticipantI’ve heard that they won’t do a straight layoff because they’d have to let the cheap labor go first (H1B visa folks). They don’t want to do that. So they’re going to reorg in a musical chairs fashion, and if you don’t have a job when the music stops, you’re out.
H1B visa’s are to hire “skilled workers” who can’t be found among current residents. In theory, you have a hard time justifying hiring H1B folks if you’re laying off citizens and permanent residents with the same job title.
As someone who works for an employer that hires a LOT of H1B visa programmers and is outsourcing to India like crazy, I see the logic to Microsoft’s plan – if this is true. My work group is currently about 25% H1B visa status employees.
So, rather than do a full layoff – they’ll force the issue with reorgs. Cheaper labor in-house candidates will be grabbed up in the re-orgs. More expensive engineers/programmers will be looking around when the music stops.
ParticipantI’ve heard that they won’t do a straight layoff because they’d have to let the cheap labor go first (H1B visa folks). They don’t want to do that. So they’re going to reorg in a musical chairs fashion, and if you don’t have a job when the music stops, you’re out.
H1B visa’s are to hire “skilled workers” who can’t be found among current residents. In theory, you have a hard time justifying hiring H1B folks if you’re laying off citizens and permanent residents with the same job title.
As someone who works for an employer that hires a LOT of H1B visa programmers and is outsourcing to India like crazy, I see the logic to Microsoft’s plan – if this is true. My work group is currently about 25% H1B visa status employees.
So, rather than do a full layoff – they’ll force the issue with reorgs. Cheaper labor in-house candidates will be grabbed up in the re-orgs. More expensive engineers/programmers will be looking around when the music stops.
ParticipantI’ve heard that they won’t do a straight layoff because they’d have to let the cheap labor go first (H1B visa folks). They don’t want to do that. So they’re going to reorg in a musical chairs fashion, and if you don’t have a job when the music stops, you’re out.
H1B visa’s are to hire “skilled workers” who can’t be found among current residents. In theory, you have a hard time justifying hiring H1B folks if you’re laying off citizens and permanent residents with the same job title.
As someone who works for an employer that hires a LOT of H1B visa programmers and is outsourcing to India like crazy, I see the logic to Microsoft’s plan – if this is true. My work group is currently about 25% H1B visa status employees.
So, rather than do a full layoff – they’ll force the issue with reorgs. Cheaper labor in-house candidates will be grabbed up in the re-orgs. More expensive engineers/programmers will be looking around when the music stops.
ParticipantI’ve heard that they won’t do a straight layoff because they’d have to let the cheap labor go first (H1B visa folks). They don’t want to do that. So they’re going to reorg in a musical chairs fashion, and if you don’t have a job when the music stops, you’re out.
H1B visa’s are to hire “skilled workers” who can’t be found among current residents. In theory, you have a hard time justifying hiring H1B folks if you’re laying off citizens and permanent residents with the same job title.
As someone who works for an employer that hires a LOT of H1B visa programmers and is outsourcing to India like crazy, I see the logic to Microsoft’s plan – if this is true. My work group is currently about 25% H1B visa status employees.
So, rather than do a full layoff – they’ll force the issue with reorgs. Cheaper labor in-house candidates will be grabbed up in the re-orgs. More expensive engineers/programmers will be looking around when the music stops.
ParticipantI’ve heard that they won’t do a straight layoff because they’d have to let the cheap labor go first (H1B visa folks). They don’t want to do that. So they’re going to reorg in a musical chairs fashion, and if you don’t have a job when the music stops, you’re out.
H1B visa’s are to hire “skilled workers” who can’t be found among current residents. In theory, you have a hard time justifying hiring H1B folks if you’re laying off citizens and permanent residents with the same job title.
As someone who works for an employer that hires a LOT of H1B visa programmers and is outsourcing to India like crazy, I see the logic to Microsoft’s plan – if this is true. My work group is currently about 25% H1B visa status employees.
So, rather than do a full layoff – they’ll force the issue with reorgs. Cheaper labor in-house candidates will be grabbed up in the re-orgs. More expensive engineers/programmers will be looking around when the music stops.
Participant[quote=DWCAP]
This recession is hitting some people VERY hard, and others are not even being touched. If anything, they are better off as prices are plummeting for many of the goods they consume. The media, in its desire to sell stories, is reporting on those who are getting clobbered. They always do this.
[/quote]ITA with this. And this was true during the depression. My grandfather made a fortune during the depression, speculating on various things. He lost it later. But there are going to be people making money, even in a recession.
There are currently major job hits in sectors like construction, architecture, banking, retail sales, auto sales. But there are other industries that are just fine. It sucks if you’re in one of the hard hit sectors.
Participant[quote=DWCAP]
This recession is hitting some people VERY hard, and others are not even being touched. If anything, they are better off as prices are plummeting for many of the goods they consume. The media, in its desire to sell stories, is reporting on those who are getting clobbered. They always do this.
[/quote]ITA with this. And this was true during the depression. My grandfather made a fortune during the depression, speculating on various things. He lost it later. But there are going to be people making money, even in a recession.
There are currently major job hits in sectors like construction, architecture, banking, retail sales, auto sales. But there are other industries that are just fine. It sucks if you’re in one of the hard hit sectors.
Participant[quote=DWCAP]
This recession is hitting some people VERY hard, and others are not even being touched. If anything, they are better off as prices are plummeting for many of the goods they consume. The media, in its desire to sell stories, is reporting on those who are getting clobbered. They always do this.
[/quote]ITA with this. And this was true during the depression. My grandfather made a fortune during the depression, speculating on various things. He lost it later. But there are going to be people making money, even in a recession.
There are currently major job hits in sectors like construction, architecture, banking, retail sales, auto sales. But there are other industries that are just fine. It sucks if you’re in one of the hard hit sectors.
Participant[quote=DWCAP]
This recession is hitting some people VERY hard, and others are not even being touched. If anything, they are better off as prices are plummeting for many of the goods they consume. The media, in its desire to sell stories, is reporting on those who are getting clobbered. They always do this.
[/quote]ITA with this. And this was true during the depression. My grandfather made a fortune during the depression, speculating on various things. He lost it later. But there are going to be people making money, even in a recession.
There are currently major job hits in sectors like construction, architecture, banking, retail sales, auto sales. But there are other industries that are just fine. It sucks if you’re in one of the hard hit sectors.
Participant[quote=DWCAP]
This recession is hitting some people VERY hard, and others are not even being touched. If anything, they are better off as prices are plummeting for many of the goods they consume. The media, in its desire to sell stories, is reporting on those who are getting clobbered. They always do this.
[/quote]ITA with this. And this was true during the depression. My grandfather made a fortune during the depression, speculating on various things. He lost it later. But there are going to be people making money, even in a recession.
There are currently major job hits in sectors like construction, architecture, banking, retail sales, auto sales. But there are other industries that are just fine. It sucks if you’re in one of the hard hit sectors.
ParticipantI thought it was interesting that 8 of the 10 cities listed were in CA. Only Miami and DC were non-CA states. I was surprised Vegas and Phoenix weren’t listed.
ParticipantI thought it was interesting that 8 of the 10 cities listed were in CA. Only Miami and DC were non-CA states. I was surprised Vegas and Phoenix weren’t listed.
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