December 14, 2009
– Comments (12)
Forget all the news, reports and speeches; How are things were you work?
Do you see improvement?
There is 100% chance of an up swing here, unemployment even went down last month. Real jobs, not labour force reductions.
I work for a medium sized engineering firm that makes electronics for different industries world-wide.
The first half of this year was brutal. Business pretty much came to a stop at the end of the first quarter. Then things loosened up over the summer and we saw a lot of the pent up demand resulting in a huge 2nd half. We will have yoy rev growth of 10% and are budgeting 2010 for 12% rev growth.
Businesses in our industry seem to be spending as usual and many of our vendors (chip manufacturers) are operating as they were prior to the recession.
So, what I see at work is highly disconnected from the things I read on this board and what I hear in the media. Not that I doubt that there are certain industries that are still hurting, but conditions seem dramatically improved from where they were earlier this year.
I work for a chemical company. The US business has been bad for years for chemicals, no difference here. The company is building majority of new plants and businesses in Asia, there things started to imporove at the beggining of 2009, actually. The HQ still has hiring freeze for the US ( since Nov. 2008), though, and there is no talk of lifting it anytime soon. May be in Spring of 2010 if things start to pick up? There is ongoing hiring in Dubai and Saudi locations, those were never affected because building a plant is a muti-year deal, and they started in 2006-2007 and will only finish next year and will focus on Asia sales.
I am a contractor focussing on residential construction. From Dec. 6 2008 until today Dec. 14 2009 I have worked exactly 80 days. The pace of construction has slowed dramatically in the past 6 months. I don't even have a rumor of any work right now. I am normally most busy in the winter.
I'm unemployed, but not according to the BLS cuz I stopped looking.
I can't really say what industry I work for because there are way too few of us and you will know who it is.
Our business cycle is about 18 months behind most of the economy because we have to wait for our customers to go into expansion mode before we get many new orders and new orders have a long lead time before products are actually shipped.
We laid off almost 10% early in 2009 and are hoping to avoid layoffs in 2010. Long-term projections are that we are overstaffed in years after 2010, but attrician should take care of that.
We are struggling a bit with cash flow in 2010, having already issued a relatively large bond offering recently. I don't see an improvement for us yet. As a company we are not in real danger, but we are certainly tightening our belts so we don't dig ourselves further into debt during the downturn.
I own a sport nutrition store in Ontario, Canada and have been in business for 8 years. Overall my sales have been pretty steady despite what I've heard from various suppliers and sales reps that sales everywhere have been slow. Currently for the month of December I've been running an aggressive sale for what is typically one of the slowest months of the year (people usually don't buy protein powder and creatine for Christmas presents) which has definitely helped give me the best two weeks of December in years.
While November was quite good for sales for me while not doing anything special (which I can't explain but an more than happy for), I think this month would be quite average without running this sale.
I am employed with a municiple goverment. there have been 80 positions eliminated (laid off or not filled). and 8 furlough days this fiscal year. there are discussions about laying off 50 police/fire positions this january.
so everthig is just fine for this po' redneck
I work for a small software company in computer aided design; we target a variety of niche industries in industrial design, dental and medical. We've been around 10 years. We have international exposure. For us business has been better this last year than ever before. And for the first time we are able to hire good people. For the last ten years hiring good software engineers has been very difficult (no supply)
Small US manufacturer of capital goods sold to other companies...
First four month of 2009 was absolutely dead. Since then, average order flow, with slowdown of US orders made up for by increases in Chinese, Israeli and Turkish orders.
The downturn was actually a good thing for the company, overall. Yes, we had rounds of layoffs. Yes, sales and revenues are down. But the downturn forced the company to re-evaluate its cost structure and business practices...something I had questioned since my start (SPiFs don't sell product! Stop giving cash away just because a distributor is selling our product like they're supposed to!).
The layoffs have stopped. The losses of sales and revenues have stopped. An upturn in sales is expected in 2010. The bonus being that cost to manufacture and deliver products is lower, and will remain lower as sales increase. That means improved margins.
It's just sad that we had to have such a devastating event to finally examine our own processes and policies.
Building supply company in Northern CA. Sales evaporated first half of year. Later half picking up nicely and some of our largest orders ever happening currently. A total shift in our customer base but we seem to have adjusted enough to pull through.