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- Apr 2, 2005
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A little more than a year ago I was laid off, but my company handled it well and I found a position before being let go. In a strange twist of fate that position almost immediately came into question and I ended up staying there only 6 months (a story here), with me coming full circle back to the company who laid me off.
Now, the possibility of a layoff is rearing it's ugly head again. I work in property management, essentially being a building manager and maintenance manager. In markets like South Florida it can be a fairly well paid position for competent people, but the nature of the business makes longevity at a single property and/or manegment company short even in the best of times. In eceonomic times like now, that longevity is being squeezed even further. Management companies get and lose contracts, buildings are bought an sold. The building I am in now is for sale and the broker is getting nibbles. So, what happens if sold? Depends on who buys and what relationships they have with management companies. There is a chance, though a small one, that our management company will be retained. Failing that, typically they will attempt to retain current staff (one person in this case, me), but in this economic enviorment another management company may have people already they need to place. In the worst case, my company will float me for a few months trying to find a place for me. Most management companies would not even bother, one reason I respect my current employer above most. Problem is the economic problems are getting very bad for commercial real estate, finding somewhere for me may be challenging.
Just figured I'd air this a bit. I'm sure many others here are feeling a bit nervous, you are not alone. I am not in panic mode yet as a lot of things will have to play out, but concern is yet again back on my radar. If south florida did not have the crazy unemployement levels it currently does, I would not sweat it at all. Unfortunately things are bloody, very bloody. :shocked:
Now, the possibility of a layoff is rearing it's ugly head again. I work in property management, essentially being a building manager and maintenance manager. In markets like South Florida it can be a fairly well paid position for competent people, but the nature of the business makes longevity at a single property and/or manegment company short even in the best of times. In eceonomic times like now, that longevity is being squeezed even further. Management companies get and lose contracts, buildings are bought an sold. The building I am in now is for sale and the broker is getting nibbles. So, what happens if sold? Depends on who buys and what relationships they have with management companies. There is a chance, though a small one, that our management company will be retained. Failing that, typically they will attempt to retain current staff (one person in this case, me), but in this economic enviorment another management company may have people already they need to place. In the worst case, my company will float me for a few months trying to find a place for me. Most management companies would not even bother, one reason I respect my current employer above most. Problem is the economic problems are getting very bad for commercial real estate, finding somewhere for me may be challenging.
Just figured I'd air this a bit. I'm sure many others here are feeling a bit nervous, you are not alone. I am not in panic mode yet as a lot of things will have to play out, but concern is yet again back on my radar. If south florida did not have the crazy unemployement levels it currently does, I would not sweat it at all. Unfortunately things are bloody, very bloody. :shocked:
) is covered by payment protection insurance (unless they find some technicality not to pay out).
