More layoffs at work today

[TwixVoy]

Just got a call from a coworker that several people came in to work today at the ratailer I work at and were laid off on the spot. Mostly people who had been there for years and were at a higher pay rate. This was company wide across the entire company nationwide. There was no warning.

If the people at the top really think this "bail out" is going to work then why the hell are the people at the top of a multi-billion dollar company laying off peons that make $12/hr at retail stores?

I'm taking the liquid money I have in my savings accounts today and buying gold and silver eagles today. I'm still leaving the money I have in my mutual funds and 401k... but I am getting enough gold and silver to buy my self out of the country and in to another one if need be. I am suggesting to everyone I care about that they get at least some gold and silver should the dollar lose it's value, and I think it's something everyone should be considering at this point.

[Frustratedlady]

1. You've piqued my interest. Any hint as to the company?

Sorry to hear it, but I'm sure this will become a common occurrence before long.

It is rumored GE is leaving town in the near future after many, many years.

[Mojorabbit]

2. My brother told me

they laid off 150 people at his multinational but small computer related company this past week. My BIL had to lay off a lot of people this week also, some who had been with the company for over 12 years and they cut the sales people's base pay by 5000 a year. He works in food distribution for bakeries.