Thread regarding General Motors layoffs

You know who will crash the economy like he did last time.

@1swp+1vNKOJsC

Fully agree. We have an everything bubble forming and imo it’s not a question of if but rather when it will pop. 2008 was just a warm up imo. That was, to my recollection, a housing bubble that also trickled into the financial system. This time around everything is over valued, over leveraged and the economy has a ton of money in circulation. Once that money spigot stops and federal spending slows (cost cuts the new Administration is promising) the economy will likely slow sharply.

Here's what leadership at the top doesn't calculate into their plans.

1. Many people are sitting on almost "eff you" money in their 401ks. Even if you aren't, people have time, and still have options to figure things out. People know that you don't want to withdraw your 401k money meant for retirement, but some people also have ways to access portions of this money strategically, assuming they don't already have other sources to tap into. Even if the market turns, they likely have contingencies in place. They aren't likely beggars this time around.

2. The ones that know how the game is played, the stars in their field, do you think they only have one or two references to call upon? They have dozens of references, and the really good ones have secured letters of recommendations and endorsements that will last a lifetime. They all build upon each other, offering more credibility than most within their field.

3. People don't forget the last time a company effs them over. One customer lost is one customer lost. One employee lost, may be a permanent customer lost, that shares stories with friends and family. Worse, for companies that utilize contractors and recycle them back into different departments during differing hiring cycles, the employee remembers the last eff you from the company. Now you are hiring a future employee potentially with a grudge, and perhaps an advocate against. And because companies only pay enough for an employee not to quit, that employee will only work hard enough not to get fired - until the every few year mass layoff cycle returns.

I've personally witnessed, what I thought was one of the greatest miscalculations of corporate mistakes. This company bareboned a group that was responsible for a certain amount of business. They went on to win billions in new business that required the skills coming from this group. All of the big wigs were celebrating, until common sense spoke up and smacked them in the face. There wasn't enough bodies in the group to absorb the work, nor skill and talent in the field at that time to bring in and absorb the work. Those brought in, required a least a year of training to become sufficient in the role. I'll never forget this as it was such beautiful karma. It was one of the biggest leadership blunders that I had seen in my career. Counting the money before it was in the pocket.

These companies can get creative all they want, but at the end of day they're dealing with a higher caliber of employee today. Some or many have made preparations. For the contractors of this business, layoffs were a way of life. Get a call on a Friday evening, or Saturday morning, don't show up on Monday. For salary or union, it was often just a vacation.

I'm very curious how these next rounds of layoffs across the economy is going to present itself. I'm curious to see the effects, as will they mimic 2008, or will it be significantly larger? The everything bubble is bigger, so I suspect this will be worse.

Brace yourselves.

Not a subscriber. Can you paste the article text in here?