how many layoffs you got?

[JoeWras]

I figured a few times being dropped without notice while hearing some phony CEO blather on about how tough the decision was would have created this desire to FIRE.

My blood pressure just shot up 100 pts. Man, you hit a nerve. What absolute baloney.

The only time I didn't see this happen was at my Microcorp where the CEO was laid off first by the board of VCs. The interim CEO had nothing to say, all the blather was from the middle management, who clearly were told to say it by The Board and were indeed fearing for their own jobs too. (I quit 2 weeks after surviving this layoff, the company died about 18 months later.)

So, did layoffs push anyone else into this FIRE mindset? Do we not owe our megacorps some thanks for the swift kick to the financial backside?

I never thought if it this way, but in retrospect, I think so! The way I looked at work, career, and my desire to grab hold of my own future changed in the early 90s when Megacorp1 went from a paternalistic culture to a vicious layoff machine.

 

[DayDreaming]

Laid off once and decided to call it ER - best thing that ever happened to me.

 

[FIREd]

So, did layoffs push anyone else into this FIRE mindset? Do we not owe our megacorps some thanks for the swift kick to the financial backside?

While my wife and I suffered only one layoff combined, we survived a frighteningly high number of RIFs over the past 13 years. So yes, the constant threat of layoff did motivate us to do some aggressive saving.

 

[Cassius King]

So, did layoffs push anyone else into this FIRE mindset? Do we not owe our megacorps some thanks for the swift kick to the financial backside?

This is what helped the cause for me. I always had the desire to FIRE and was working towards it. However, my department was sold off to another company that needed some exposure in my region. It happened out of the blue and with no warning. It really opened my eyes that nothing is guaranteed and to not get comfortable.
I've since used that as motivation to FIRE as quickly as possible. I just turned 39 and my first step was to clean up the balance sheet and get rid of all debt. Only debt I have remaining is my mortgage, which I have refi'd to a minimal payment.
Now I'm crushing that payment and putting everything I can away for FIRE. I'm no longer a prisoner to my job, and FIRE is looking like a definite in the next 10years or so at the latest.
I could semi-retire and leave my job if I wanted to now. Not being a slave to a career is a good feeling to have. I want FIRE to be the next!

 

[rodi]

I was laid off from my first job out of college. Defense industry collapsed. Company went from 400 people to about 7 a year later.

In my current job almost 19 years (although the corporate name has changed multiple times due to acquisitions, spin offs, mergers, splits, and more recently, my division was sold off to another company.)
In that 19 years I've survived 17 layoffs. Most have been in the last 7-8 years. We're anticipating another one this month... but that's just a rumor. (A rumor that has made it to The Layoff Discussion and to multiple sites around the company.)

After our last reorg the new VP of our group actually congratulated the team on having survived so many layoffs.

Good people have been let go. Sometimes it's entire departments let go because of business priorities changing.

 

[iam21177]

I have never been laid off so far in my 21 years of working (knock on wood).

 

[harley]

Volunteered to get laid off when I was ready to ER. Figured I could get a nice severance package and save somebody else's job (for a while) at the same time. Other than that, I was fired from a restaurant job in high school after the big "cooks vs. waitresses" strawberry pie and whip cream battle. I didn't really blame them for that one.

 

[CoolChange]

Never been laid off. I've ducked many layoffs from my Megacorps and my Microcorp.

Just ducked another at Megacorp recently. Like ziggy said in another thread, if it would have happened, I think I would have been relieved instead of mad. There were a lot of very bitter people walking around at Megacorp.

My usual case has been to get a new job after seeing a few layoffs. However, now in late career, I'm either going to finish and ER on my own at Megacorp, or wait for the tap on the shoulder and let Megacorp make the decision for me.

This is almost exactly where I am now except I am currently at Microcorp.

Sadly, by the time they get around to tapping me on the shoulder, there probably won't be any money left for severance. Frankly, I am hoping they have the cash on hand to pay out my accrued vacation.

 

[HFWR]

Seven, that I can recall. Most were back in the Rust Belt days in the midwest...

 

[brett]

The threat of layoffs, and having to lay off people definitely had a positive impact on our FIRE. It changed our outlook. We paid off our mortgage in record time, lived below our means, and saved. We also prioritized things. The car was not replaced for 17 years so that we could enjoy some great vacations. For us it started in the early 80's when there was a decline in the economy where we lived.

When 'my time' came, at 58, I was ready for them. We were financially independent and had selected counsel to assist in my termination settlement.

 

[HillCountry]

The threat of layoffs, and having to lay off people definitely had a positive impact on our FIRE.

Yes, they had the same impacts on me.

After my 2nd layoff in 2006, I tried to start my own business. Eventually, I found my niche in domain business. And this contributes significantly to my current finance.

 

[MBAVisionary]

Laid off twice in my 14 year working history. One was for a job I never should've accepted as a part-time, then per diem Executive Assistant in 2009/2010 (was making $550-900/mo off the books). The other was at a glass company in the DFW area that went under after 49 yrs in business. Now earning over 50% more in under a year and a half so maybe there's truth to the saying everything happens for a reason.

I've learned success is a combination of hard work and the right timing.

 

[38Chevy454]

Technically twice for me, from the same megacorp (as I sarcastically call it generous electric....very unethical company IMHO), but one of those I was able to get a transfer to a different division and location, so it would be one official layoff. The second one I was wanting to leave and they just beat me to it. Have survived layoffs at other companies, even a bankruptcy at one where I was held on as one of about 5% left to keep things going OK until a buyer was found. I found another job before the buyer, so left on my terms.

I know lots of people from aerospace field where i used to work that layoffs were just a routine part of the field. Most would land on their feet with something better in a reasonable time and they would go on, repeating the cycle.

 

[Wds0410]

Four. The third one hurt and changed my attitude from "I used to think to think I wanted a career" to "it turned out all I wanted was a paycheck." Won't happen again though. I will FIRE first!

 

[Telly]

In my professional life, once. That launched my early-early retirement. I have laid off people over the years, a few truly deserved it and I wish I could have made it sooner for them (I didn't hire them, I "acquired" them, AKA, "we're going to move John over to your area").

And some were really really great people, very capable, did a super job, easy to work with, trustworthy, never a problem with them, a real joy to work with. And I had to lay some of them off, too. When I had to bring one of these folks into my office and tell them the written schpiel, I was so sorry, and I had wet, but not drippy eyes. They knew it was not my idea, and that I had done everything I could to protect them up to that point. I hated it and the politics that went with it. Economics is one thing, politics is another. Some people really suck.

 

[cinman2000]

0 for me. I think this was mostly luck. Now a nice ER package would be a blessing and make the decision of when to RE easier.

 

[jime444]

In my 35 year, so-called aerospace engineering career, I've worked for 11 different companies, 8 no longer exist (bought, acquired, hostile takeovers, moved to se asia, etc.). And luckily laid off only twice, once early, once late in the career. But, missed several (by moving to other opportunities) by only days, maybe even minutes. I only wish I would have figured it out early on and been a dentist like my mother wanted me to be. Someone earlier said it succinctly, I really should have focused on the paycheck and FIRE, not the so-called career. Gratefully, its now almost water under the bridge.

 

[padlin00]

Once, 10 weeks ago, took a voluntary layoff as the severance was enough to allow me to ER. After 100 years (30+ for me) the company was bought out, changed from a quality emphasis to a money emphasis. From an employees perspective the continual layoffs to cut corners changed it from from enjoyable to pressure cooker.

 

[Cassius King]

I really should have focused on the paycheck and FIRE, not the so-called career. Gratefully, its now almost water under the bridge.

Wow. That's a pretty powerful comment. I feel the same way, thanks for sharing.
FIRE takes care of most things.

 

[comicbookgujy]

Only laid off once back in 1998.

But the 8 jobs I had prior to my current jobs, none of them exist today. The companies do not even exist anymore due to mergers and industry change. So If I haven't left, I would have been laid off.

Currently looking to get laid off again so I can get servance and unemployment!!! I need that 1 year paid vacation!!! PICK ME PLEASE

 

[Youngblood]

I almost had my first layoff last week. I literally just found out they were letting people go when my boss walked up to me and asked "do you have a minute". I felt my heart pumping and I just knew this was it for me (I've been with the company for 15 years).

He brought me to a conference room, where the head of HR was already sitting. She broke the news to me that my position has been eliminated, however, they wanted to offer me a different position, but in a totally different field than my current role. I do have some familiarity to the position, but it will be learning curve for me.

I really don't remember much of what was said after I heard I wasn't being let go and my pay was remaining the same. I felt relieved and sad at the same time, because we lost a lot of good people that day and they will be missed. I know I feel bad for my colleagues, because my responsibilities haven’t been eliminated, just my position. How does the saying go “doing more with less”?

This only reinforces my dedication to FIRE and doing all the little things I need to do to get me there sooner rather than later. Some of my friends don't get my obsession with FIRE, but they just don't understand that you can't put a price on being in control of your life and being able to say "Enough already, here's my 2 weeks!"

 

[Dawg52]

Never laid off. Although if I had stayed on with one job I would have eventually been laid off. The company filed Chapter 11 and later bit the dust.

 

[Katsmeow]

Never laid off, but was fired once. Looking back on it, I was upset at the time but everything worked out.

This was my second job out of law school working for a solo practitioner. I didn't like the job at all and after I had been there about 6 months or so I started looking for another job. My boss found out I was looking and fired me on the spot. He did pay me for 2 weeks. However, it was a big shock to me as I was early in my career and didn't have a lot of money. However, I had 2 job offers within 2 weeks and had a request for second interview on another. So, I accepted a job with a small law firm, took a week's vacation first and started work. I've followed the head of that firm to various other firms over the years and even now - during ESR - still work for him (that was 33 years ago).

Oh the other thing about being fired, was that my boss told me that I would do fine, but I should go into a different type of law. I was sort of worried at the time as to whether I should take his advice. However, I didn't and had a successful career without changing as he suggested.

 

[truenorth418]

I worked for 4 companies between graduate school and ER, two were layoffs.

 

[gozer]

0
Never laid off, never quit without a job or school lined up. Till I ERed.

MRG

+1. Same for me. Although I still have 98 days to go before ER. So there is still time to get a layoff in.