I saw on the news they are cutting 10% of their workforce.

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Mogul of Pineapples
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Postby Mogul of Pineapples » Mon Jan 26, 2009 8:29 pm

Today alone something like 52,000 jobs were cut in America.

Not the best way to kick off the week. Things at this point are causing a domino effect. If that wasn't occurring I believe we would have been on our way to recovery.
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The Fuzz
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Postby The Fuzz » Tue Jan 27, 2009 8:57 pm

It has been a slaughter at AMEX this week. Even yours truly isn't immune from the axe I guess. I've still got options within the organization though. I guess we'll see next month if I'm still with AMEX or if I'm working elsewhere... I understand why they are doing it though. No hard feelings here. I've had many great years with this company and this isn't the first time I've been through layoffs in my career. I'm just grateful that I've had the experience of working for such a respected company like this and am able to put that on my resume. What financial institution wouldn't want someone with a background of working for one of the best in the world at what they do? :)

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Postby Cucumber » Thu Jan 29, 2009 2:10 am

Oh no!!!! :( :( :( : Any chance you get to keep it?

It is REALLY good to have on your resume like you said because they are really respected company that everyone knows instantly. I always think that's one of the good things about working for co's like that. You could work for a tiny co that is equally as good but it won't mean squat on your resume if you are applying places that don't know the co.
OBAMA
Stop talking crap about him!

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The Fuzz
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Postby The Fuzz » Thu Jan 29, 2009 11:17 am

There is always the chance I guess. My position is actually gone entirely, but they have restructured things in my area and in other areas that would have me doing esentially the same thing. I'm sure I'll be fine. If I'm not working here then I'll just work somewhere else I guess. I'm trying not to get too worked up over it until I know for sure that I don't have a job anymore. I guess just add my name to the list of the people you pray for who may or are out of a job due to the recent economic changes. I've been through this before, so I'll be fine. I just feel bad for the people who don't have the options that I've got. So many people were just kicked to the curb due to low performance or other reasons and they don't get to continue working for this great organization in any capacity.

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Mogul of Pineapples
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Postby Mogul of Pineapples » Thu Jan 29, 2009 4:34 pm

Fuzz,

I'm truly sorry to hear about this. The eliminated your position entirely? With your position there I thought you would be needed in a "no matter what" type of capacity.

When do you find out whether or not it's a sure thing? Don't you have plenty of options when it comes to getting another job and your qualifications should put you to the front of the line. I don't mean to trivialize the situation, but if you want to think of it with a glass half-full type mindset, enjoy the time off for a little bit before going back to another job. I know a couple that worked in the auto industry which is of course probably the absolute worst sector to be in, their jobs were cut and sure enough after taking a break for a few months (on unemployment) they got re-hired this month in the same industry with equal pay. They live in the worst state in the nation for employment and the worst industry - if there's hope for them there can be hope for anyone.

Hang in there and update us on the latest.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
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Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred

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The Fuzz
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Postby The Fuzz » Thu Jan 29, 2009 4:53 pm

Everybody in my position was laid off and then they restructured the department and reposted the positions they felt were necessary. The bad thing is that anyone and everyone can apply for it, so I'm not guaranteed to get my job back. I'm well qualified for it, but if someone swoops in with a Masters degree and ten years more experience, then so much for that... I'm just going to keep my fingers crossed and hope that I've done enough good that I'm worth keeping around.

amer191
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Postby amer191 » Wed Feb 04, 2009 9:26 pm

It is more than American Express. All companies are cutting their work force because they are not doing as much business that they used to do. I'm at high risk of losing my job for this reason.All I know is that I have heard all companies no matter what their industry is laying off people. I hope it does not get to the point where are economy completely collapses because of it.

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The Fuzz
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Postby The Fuzz » Wed Feb 04, 2009 10:03 pm

I think our economy is already collapsing in on itself. Personally, I think it is a good thing. Sometimes you have to hit rock bottom so you can rebuild. With the country in the state it is in right now we really have to think about what is the best way to go forward. We can learn from mistakes made in the past and our eyes are open. It is much like after 9/11. Remember how paranoid everybody was to travel abroad and how nervous we all got? We aren't quite as gullible as we used to be and we have grown a lot. We made a huge pile of mistakes along with the growth, but that is what happens. We are seeing the error of our ways much like we saw the errors in our lax security prior to 9/11. Now we will get ultra paranoid (ie: credit crunch) and start to rebuild. It is the cycle of things...

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Mogul of Pineapples
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Postby Mogul of Pineapples » Thu Feb 05, 2009 1:02 am

Fuzz I would have to agree with you. American values got greatly warped recently. The most important thing became material things and status symbols for most of our population. Companies like Mercedes and Jaguar capitalized off this by creating entry level "luxury" cars bearing their name for under $30k. Clothing companies catered to this too. Everyone wanted to live the rich man's lifestyle, regardless of their income. I'm suffering financially (very much so) right now but I can still admit that this may be a blessing in disguise. American values got so out of whack we needed a trainwreck like this to get "back to basics." It's back to spending time with the family, enjoying the simple things in life, instead of the name brands and material things.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred



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