Author Topic: Merging mega-corps  (Read 1299 times)

Jtrey17

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Merging mega-corps
« on: July 03, 2015, 05:30:10 PM »
It was announced yesterday (although I just heard about it now-weird) that the mega-corp that I work was acquired by another mega-corp. as a single mom of four, this leaves me a little uneasy.

I am so glad that I've devoured the MMM site and forum and feel confident that I can set myself up to be ok financially, should the ole layoff occur (although I'm no where near FIRE).

My question for all of you is, what steps should I be taking now? I'm not to the point of having Vanguard accounts as I'm clearing up about $10,000 in cc debt. Should I stop paying as much as I can toward that debt monthly and stash cash? Where should I put that cash?

Paul der Krake

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Re: Merging mega-corps
« Reply #1 on: July 03, 2015, 05:39:20 PM »
Humana?

So basically you have two options:

1) start looking for another job now if you fear layoffs. You don't want to be looking for a job when everybody else is scrambling to get something to pay their bills.

2) alternatively, you could take your time as these types of layoffs typically include a generous severance package. But it sounds like you're already living precariously (by MMM standards), and we don't know how in demand your skills are.

If you want to hoard cash, get an online savings account, they pay about 1% these days. I recommend Barclays.

rmendpara

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Re: Merging mega-corps
« Reply #2 on: July 03, 2015, 08:55:25 PM »
Like Paul said, if you're not highly employable (i.e. in a field or with qualifications that you could fairly easily find a new job), then you should start looking for a new job now.

Maybe you never get laid off, so worst case is that you find out if you are under paid and could come out with a better job! Maybe you are on the firing list, and then you are at least somewhat prepared and are at least in the process somewhat with a few different opportunities.

Not sure where you fit in exactly, but it never hurts to be prepared.