Layoffs start coming

[Chapdog]

Been coming daily now. Friends companies all announcing 10-15+% cuts. My company hasn't yet but we froze and im sure its just a matter of time before they do.

 

[Cancel3]

Been coming daily now. Friends companies all announcing 10-15+% cuts. My company hasn't yet but we froze and im sure its just a matter of time before they do.

The utility industry is usually a few years behind the national trends for downturns or layoffs. Its because of the way our customer's money works.

But we are already seeing less new build and more maintenance of old plant.

 

[DigitalDave]

My company is getting ready for a bad eonomy next year too. We haven't really had to cut anyone, but they are killing a lot of spending, starting with travel. They are also putting off 'nice to have' projects, and sticking with what makes them money. That alone should be enough of a cutback, since we aren't really hurting in the first place. They are only trying to impress investors...

 

[klaatu]

Oil sinks below US$55 ... believe it or not.. this may just soften the blow. Though the Mortgage Industry gets most of the bad rap as far a why we are in this mess..., Energy Prices had a lot to do with it as well. People choosing between paying their mortgage, buying groceries and paying their power bills. The general rising cost of doing business.

2.00 a gallon gas , lower heating and electric bills will put a lot of money back into peoples pockets.

 

[Damocles]

It's $1.829 per gallon here. I didn't think we'd ever see below $2 once it passed $2.50.