- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: How many people are going to lose their jobs over this potential economic collapse?
Posted on 3/12/20 at 3:57 pm to ashy larry
Posted on 3/12/20 at 3:57 pm to ashy larry
0
Posted on 3/12/20 at 3:57 pm to jlovel7
quote:
How many people are going to lose their jobs over this potential economic collapse?
I work for a hotel company. We just furloughed 20% of the workforce. Pretty much all of them will be laid off.
That is phase 1. There will almost certainly be a phase 2.
We are projecting at least a 50% drop in revenues for full year 2020 at this point. That would border on a bankruptcy type event for many similar companies although our company has less debt load than most so we SHOULD be able to pay the bills without defaults that would accelerate a true liquidity issue. However back to the original question, we have about 10,000 employees. At least 2,000 will lose their jobs. Probably more. Of course we will hire when things ramp back up - whenever that is.
Posted on 3/12/20 at 3:58 pm to SloaneRanger
quote:
When this passes (and it will) and the carnage is tallied up, I predict that we will have US deaths in the low four figures at most. People are going to look back and be embarrassed about all this hysteria.
Couldn't part of the reason the number of dead would be in low 4 figures is because of the precautions taken. If the numbers stay low each side will claim that it shows the precautions worked or that they weren't necessary.
Posted on 3/12/20 at 3:59 pm to Riseupfromtherubble
You SOCO?
Posted on 3/12/20 at 3:59 pm to jlovel7
quote:
If businesses grind to a halt and production stops because of panic? How much does this end up affecting everyone?
Posted on 3/12/20 at 3:59 pm to Mr Personality
quote:
Will be interesting to see people shift their position on government assistance
Government assistance comes in many shapes and forms. People that are against generally don’t like taking from those that work in favor of those that don’t.
I don’t think that position will shift, in fact it will be more of a time to help those that produce.
This post was edited on 3/12/20 at 4:16 pm
Posted on 3/12/20 at 4:01 pm to jlovel7
A lot of people will claim this is an overreaction, but would claim nothing was done if disastrous. You can’t have it both ways unfortunately. I would rather us be cautious and play this virus out. People talk in terms of absolutes, we all really don’t know much. The information is all over the place depending on the source.
Posted on 3/12/20 at 4:02 pm to UnluckyTiger
quote:
A lot of people are going to wish we had just kept on and hadn’t hit the panic button in a few weeks from now.
If this blows over spectacularly then the media has blown its' last shreds of respect. Nobody is going to believe what the magic picture box says anymore.
Posted on 3/12/20 at 4:02 pm to jlovel7
My company has never laid off a single person in our 70 years of existence. Nothing to worry about 
Posted on 3/12/20 at 4:09 pm to AUCE05
Nope, we deal with them though
Posted on 3/12/20 at 4:12 pm to jlovel7
Watch when they say we can't truck things across the country ....... That's when we have a REAL problem.
Posted on 3/12/20 at 4:17 pm to dukke v
What is your prediction on all of this PJ?
Posted on 3/12/20 at 4:20 pm to dukke v
quote:
Watch when they say we can't truck things across the country .....
Why the frick would they say that?
Should we also watch when we cant ship things across the oceans and have to shut down all major shipping ports?
You're a fricking idiot
Posted on 3/12/20 at 4:24 pm to jlovel7
I was in final negotiations to start a new job in two weeks. (Severance from previous job ends on the 15th) They called this morning to let me know they had indefinitely suspended all new hires effective immediately. No big deal I’m sure lots of companies will be looking to hire now.
Posted on 3/12/20 at 4:25 pm to Dizz
quote:I agree with this, but I’m afraid the death toll could go much much higher than that.
Couldn't part of the reason the number of dead would be in low 4 figures is because of the precautions taken. If the numbers stay low each side will claim that it shows the precautions worked or that they weren't necessary
Posted on 3/12/20 at 4:27 pm to LNCHBOX
quote:
I see the point you're trying to make, but there is a slight difference between people let go due to a pandemic and leeches that weren't ever paying in in the first place.
There's quite a few posters who subscribe to the "Everything that happens in your life is within your control and tough shite if you failed to control it properly" thought process.
They've weirdly been silent lately
Posted on 3/12/20 at 4:29 pm to jlovel7
And some businesses will use Covid19 as an excuse with oil prices dropping.
Posted on 3/12/20 at 4:30 pm to Mr Personality
quote:
Will be interesting to see people shift their position on government assistance
I’ll gladly take the check that I just wrote Uncle Sam back
Posted on 3/12/20 at 4:32 pm to jlovel7
If these closures continue, I won’t be surprised if there is some sort of federal assistance to cover several weeks off work.
Posted on 3/12/20 at 4:35 pm to UnluckyTiger
quote:
A lot of people are going to wish we had just kept on and hadn’t hit the panic button in a few weeks from now.
How do you know this? Epidemics follow certain mathematical models of rates, distribution etc. Containment strategies have to be implemented. It’s not panic. It’s being responsible.
It’s not the illness. it’s the stress it places on the healthcare system, lost work days and income, decreased production and revenue. All of those factors will be magnified if we don’t act now.
Folks who are far brighter than you and I are making these decisions and that includes those in corporate America.
That’s why the administration’s disinformation (hoax commentary) and inaction has been so negligent.
Page 2 of 6
Popular
Back to top
Follow TigerDroppings for LSU Football News