The economic "crisis" and US job offers
 

I was wondering, with all the doom and gloom in the media, whether people in the UK are finding that job offers in the US are being withdrawn, or whether emplyers are using the economic crisis to negotiate lower salaries, or (heaven forbid) whether any expats currently working in the US are being made redundant/having to return to the UK?

I recently heard through the grapevine that I have been shortlisted for a position, but also heard from the same person that due to the economic situation, the positions may be withdrawn. I read in the NY Times recently that several state systems are implementing a hiring freeze on jobs in the state higher education sector ...

Re: The economic "crisis" and US job offers
 

I've heard from friends (both Americans) who work at two different universities that both institutions have hiring freezes on. In fact, one friend was made a job offer just a day or two before the hiring freeze began at her institution so she just made it in time.

Re: The economic "crisis" and US job offers
 

Based on past experience, expats are in no way immune from layoffs when they happen. As to my industry (software), many layoffs have already happened and it's pretty clear that many more are in the works. Even well-funded startups are now laying people off, whereas in past downturns they've tended to be somewhat immune from the broader picture, cushioned by their venture capital funding.

Re: The economic "crisis" and US job offers
 

I just got a call yesterday for a job. After the usual 'tell me about your history' ( despite having my resume in front of him) we then got down to the nitty gritty. The guy told me they were offering about 1/3 what I was making in my previous job :frown:

Re: The economic "crisis" and US job offers
 

I know of someone who was offered a job...then the offer was withdrawn because of the current economical climate.

It is all very worrying...I hope you find something soon.

Re: The economic "crisis" and US job offers
 

To be quite honest I'm not really worried. I was devastated when I lost my really good job in 2005 as it was completely unfair, undeserved and unexpected, even malicious.
This time it was expected and I'm probably also hardened by experience.
I'm also financially sound (apart from some 401k losses) and have no debt.
It'll turn around and I think it's a great opportunity for careful investment, for those that actually have any money or savings

Re: The economic "crisis" and US job offers
 

In the land where it is the standing norm for stringing people on for jobs that ultimately aren't there, and rudely not returning calls to let the other candidates know they didn't get the position, I've no doubt it'll have an impact! ;)

Re: The economic "crisis" and US job offers
 

Good that you are in a position to decline silly offers or negotiate them up. I fear that in the current climate, employers are in the driving seat and will be going for bottom dollar.

Re: The economic "crisis" and US job offers
 

That's for sure. Of course I do have to get something as sitting around slowly eating away at my savings and investments is no good.
Having said that I saw a nearly 40% return on an stock trade this month, off course that doesn't offset the $65,000 loss that ' the experts ' helped me with on my 401K, but hopefully some of that will be returned in the long run i.e before I'm 60ish

Re: The economic "crisis" and US job offers
 

That's good to hear. You also seem to have the right attitude. Apart from the financial position being unemployed can also take a toll on one's health.

Re: The economic "crisis" and US job offers
 

I think i remember my husband saying his firm were also not allowed new hires - but could only take staff from the companies they had recently purchased who would otherwise be made redundant. trouble is these staff dont want to relocate half way across the country so its a catch 22.

my husband feels more secure than his peers (just a smidge anyway) becuase to let him go BEFORE the local hires would cost them a HUGE amount in repatriation and UK redundancy payments etc. However if the whole team was lost then he is obviously no safer than anyone in it.

Re: The economic "crisis" and US job offers
 

I know someone, a Brit, who lost her job over here and had to go back - just after Thanksgiving.

Re: The economic "crisis" and US job offers
 

My company (major software company in MASS) has also put a hire freeze in place. Although they said they will replace people that might leave where it will have a negative business impact. Our pay reviews have also been pushed back three months. I am glad that I pressured them into getting my transfer last sept as I think if it was today they would flat out refuse, as they are paying me significantly more here in the US then I was getting before the move.

They are expecting to have a tough year, but we have some legacy products that have massive licensing revenues and they has always kept them going through the bad times.
Although the shear scale of whats going on right now makes me think we are in uncharted waters economically.

I think that confidence is completely gone, especially in IT infrastructure investment. Its very easy to shelf a new IT project for 3/6/9 months, and this is what will really hurt growth in companies (like mine) who are relent on customers investing in new software to achieve growth. If growth slips, that means profits are down then share price slips, and then the shareholders want cost savings and that = lay offs. Its an ever decreasing cycle. I don't think we will have any lay offs for the next 2/3 quarters anyway, after that though how knows!
I have already been though two rounds of lay offs over the last few years and they are not fun. If I was to lose my job I am afraid the beloved BMW would have to be sold probably for big loss to fund my self while I looked for a job. I would probably take a lower paid job if it came to it as I am relatively debt free so could afford to take the income hit. Stressful times all around.

Re: The economic "crisis" and US job offers
 

I interviewed about 10 candidates for 2 open positions we had.....then we got told that it had been cancelled and we just had to make do with having a team 2 people short. We have a total hiring freeze right now. I think I'd be pretty far down on the list of redundancy candidates, but you never know. To be honest I dont really care. Only worry about things you have control over.

Re: The economic "crisis" and US job offers
 

Thanks for the feedback. I found a couple of local news pieces that said the university President recently talked about layoffs, but also said there were no plans to implement a hiring freeze. Seems a bit contrary. :confused: The flagship university in the state has just implemented a hiring freeze. Could be in the UK for a while longer. :(