We had a lovely, cozy, heart to heart company wide conference call today to announce layoffs at my company. It’s a year to the week since I found out that I was able to transfer down to Tucson. What a year it’s been with lots of changes to my life, bad and good or good and bad, depends upon my point of view, and some are both bad and good at the same time. In retrospect this evening, some of the financial decisions that I made last year, right now are looking like a stroke of brilliance.
The layoffs are only going to effect about 225 people across the nation in my division, but the chances that it could be me are there. This is the second time with this company that I’ll have gone through this, at least they aren’t making us wait 3-4 months before figuring it out. In 15 days counting today I’ll know. The industry I’m in is rapidly shrinking the outside sales reps. In some respects that is good, it was an over bloated industry with way to many people, in some respects it bad as I’ve known people that have gotten laid off and now I might face that reality and a much tighter job market to boot.
So now the process of planning begins. How much cash on hand do I have, what recurring liabilities, other liabilities, assets both long and short term, essentials needed, essentials that I already have, what assets do I have that could be put towards better use generating a higher ROI then they do, which are expendable and which are depreciating or are sum zero assets if I keep them, secondary revenue streams, am I willing to relocate, if so where and on and on. Overall there isn’t much fat to trim, actually because of some of the reimbursements I’m allowed, my actual cost of living would increase. I don’t have cable, forgo other things that many people consider essentials like a HDTV, game system, fancy phone or eating out all the time. Some of my friends call me cheap, really though I’m just fairly frugal, careful where and on what I spend and firmly believe in living well below my means. There are college students that live better (and by better I mean more stuff) then I do, except I don’t have a dorm room, my place is furnished slightly better.
So for now the waiting and planning game begins.