WWYD Wednesday: Buyouts

Around here many face taking a buyout or face possible layoff, as a matter of fact many have already chosen one over the other.

I have many friends who have made one decision over the other. Some have had success with leaving the state after taking a buyout, those that have stayed have not fared well. Others have stayed only to be laid off later without the option of the buyout but have unemployment. Some have opted not to take a buyout and have done well doing so but may still be in danger now.

I work at the airport and I am seeing many taking buyouts from Delta and Northwest and some who are staying as well. My company is contracted and I do not have that option but we face possible layoff as our contract is up for bid now.

I read an article at DetNews.com on this very subject. Many families are facing the decision on what to do.

WWYD if you were faced with the possible fate of the Auto workers here?

If you took a buyout how would you plan so that you don't fall to the fate that others have?

If you would ride it out what would you do to protect yourself financially?

Photo By: Forbes.com

WWYD Wedensday: Leaving a job

In these economic times leaving a job could be a grave mistake. Sometimes though it could make a whole lot of sense.

This is our last Fiscal Year where our contract is valid, and the first time ever the customer is bidding it out. There have been problems with the head honcho here and the customer satisfaction. It really does look like we may be out of here and we aren't hearing a thing about it.

I decided not to actively look but to wait it out and save money just in case (this is what is funding my emergency fund). I also decided after doing the simulator on paying some old stuff off to up my credit score not to do that for now and just work on my emergency fund.

The reasons for this are simple, the job market especially in Michigan is pretty scary and it isn't likely I'll find a decent job. I make better money here than I would someplace (really anyplace else at the moment) I can ride it out here and hope the economy is better in a year to find a job or my emergency fund can float me while getting unemployment to finish school like I wanted when I got laid off a while back.

Don't get me wrong I have my feelers out, I'm working on something to earn extra income, and I'm updating my resume. I'm being proactive but not jumping the gun quite yet. Who knows we could win the bid if I left I could have left a decent paying job (for what I do) for a crap paying job because I was in a panic about something that hasn't happened yet.

WWYD?

Photo by: Amarendra Bhushan