Layoff Update

We're still in a holding pattern, but there is some good news on the horizon.

The union and Boeing have come to an agreement, so hopefully there should not be actual layoffs. Hurray! However, because so much work is backed up at my husband's workplace, he still may be put on three days weeks with reduced pay. The storm is weaker, but it is still there.

This has been an incredibly powerful experience for us. While it has been incredibly stressful, it also helped us see some of our many blessings much more clearly. It also showed us some of the small holes in our safety net. We felt extremely vulnerable. While we know that layoffs are almost expected at most companies at some point these days, it was scary to experience the very real possibility of losing our primary income firsthand. It helped us challenge our assumptions of what we would do. I'm glad that these holes were revealed before we actually needed the net.

Hope for the best, but prepare for the worst

So as you may have guessed by my lastest Monday Morning Mention, we may be facing a layoff.

My husband does not work for Boeing, but he works for a company closely associated with Boeing. When Boeing can't work, their work slows to a trickle. Boeing has been on strike for 45 days, and things are getting pretty tight around my husband's workplace!

Last week, the CEO sent out a memo saying that layoffs will be coming in November if the strike is not resolved. Scary!

We have responded to this by stopping our massive debt payoff. We usually send all of my salary plus a decent amount of his towards our debts, but this month we just paid the minimum. (It's a student loan and our house payment, not a credit card thank God!)

We do have emergency funds, but we want a little extra padding just in case. We can always send it to the debts later if the layoff does not happen. We don't have as much as we'd like because some of our emergency funds are in mutual funds, and we all know how the stock market has been going lately. We still have a decent amount, but it's still alarming to see that number go down so quickly!

I'm also thanking God that several items we were starting to run low on had GREAT deals this week- toilet paper, laundry detergent, and a few staples. We always keep extra food in the pantry, but it is nice to have an abundance of our needs taken care of.

We're also thanking God that our roommate did not buy a house! He was thinking of it, but decided to stay with us for the time being. Having his rent will help with the mortgage quite a bit.

We're hoping for the best, but preparing for the worst.

Tell me your layoff stories! What did you wish you had prepared for? What was the best thing you did? What mistakes did you make? Spill in the comments!

Monday Morning Mention: Layoff Edition

Happy Monday friends! Today's MMM is about layoffs! I'll be talking more about why I chose that theme later on this week. Don't worry- nothing has happened (yet), but as I've said before, luck favors the prepared.

MSMBC talks about things that you should do to prepare for a layoff. I think that most of these tips would be prudent for those who have very secure jobs as well.

The Dollar Stretcher gives tips from several of their readers for those facing layoff.

Moving on Up gives three tips. I'm not sure about the third tip, but it's something to think about.

Adventures in Teething gives excellent layoff advice.