Layoffs and the new year.

That sucks...3/25= 12% cut...

Depends on your field of employment. Finance tends to lay off before Christmas, sometimes they go again in Q1 before bonuses if they don't pay out until then. But usually January-Feb is a hiring time in finance.

I'm in the non-profit sector, which is hit hard, obviously.

Couple freinds let me know they got notices today. Sucks.

Why wait until the new year?

They wanted people to have good holidays?

nyc10022: I'd say exactly that. I think this week will be a very significant one in every way.

NYC is expected to lose 165,000+ jobs in the next two years. When an individual unemployment compensation expires (collected all of there unemployment checks) the gov't does not include them in the numbers for the unemployed. Unemployment compensation will be extended for 3 months which will allow those who are unemployed to collect for 9 months. Unemployment will not compensate those who are fired. Citi Corp will not provide severance pay for those laided off. Layoffs have begun and will continue throughout the year. Those taking vacations and calling out sick will be at great risk of losing their job. Its a sad time for the world, no one is safe or immune, Gov Patterson wants all gov't agencies in his command, to cut back Mayor Gloombird finally decided to agree with the Gov Patterson.

Vote Bill Thompson your next mayor of NYC

"I'm in the non-profit sector, which is hit hard, obviously."

Most iBanks can now be considered "non profit" companies. So can the U.S. auto companies. So can the wirlines.

Bloomberg and Paterson suck.

There will be more cuts in financial services before bonuses are paid late January/early Feb