Just got laid off from Morgan Stanley Smith Barney today

[ocd liberal]

Branch office, central coast town - had just had my 19th year anniversary with the firm. Two of my brokers have had me for an assistant since 1994.
I guess this is the year the economic "other shoe" drops on me.

[WhiteTara]

1. good luck ocd liberal

:hug:

[meegbear]

2. +1

[ocd liberal]

6. Thanks!

My 6 & 10 year old will be glad to have their mom around all summer, not just a week.

[supernova]

3. sorry to hear that

:hug:

If it helps, you're in good company.

[upi402]

4. Welcome to the Reaganomics club

okay, and Clinton-Republicanism too...

Good luck to you, and to all of us.

[Liberal_in_LA]

5. sorry to hear it.

[Ruby the Liberal]

7. I am so sorry to hear this.

Best of luck to you. :hug:

[alcibiades_mystery]

8. You have your series 7 and all blue sky certs

You should be ready to walk into a similar job, no?

[ocd liberal]

16. I sure hope it's that easy!

I haven't looked for a job for 19 years, so it's all new to me now.

[alcibiades_mystery]

18. Should be

It's actually hard to retain good help as broker sales assistant - except in the big centers.

[SharonRB]

9. I'm in the same boat

Our company completed a big merger in January, and I found out last week that my job is gone as part of the synergizing -- it's been handled on a more centralized basis. I've been here 16-1/2 years and next Tuesday is my last day. Luckily, I'm getting a decent severance package and fully paid COBRA through next February. I will be able to do some freelance work for my company and have a likely opportunity that's been in the wings for a while, but not ready to hire me just quite yet. I'll be 61 in August and will start to collect my pension (600-800 per month less than it would have been had I continued to work her another few years) next summer at 62, since waiting to 65 really was of no advantage to me.

My biggest concern will be health insurance once my COBRA runs out, as I'm not sure I'll be able to get it with that new opportunity. Hopefully they'll set up a small group.

Good luck to you, ocd liberal. I feel your pain.

[truedelphi]

25. That is a sad thing to hear.

I didn't like the sound of this part I'll be 61 in August and will start to collect my pension (600-800 per month less than it would have been had I continued to work her another few years) next summer at 62, since waiting to 65 really was of no advantage to me.

What reason were you given specifically that it had to be you that was let go? Often companies scramble to get rid of people before they are fully vested - and in your case, could that be what is happening.

It is very difficult for people who are not yet covered by Soc security to find work - firms do not want to pay the medical insurance costs. I have been told to my face that the nursing agency I was applying at could not consider me, on account of my age.

[SharonRB]

29. Oh, I've been vested for a very long time

That's not the issue.

I was told my job is being handled at "hubs" around the country, which is the way the company we merged with handled it, for the most part. I should be able to do freelance work for them, though.

I don't think they can tell you they can't consider you because of your age. I'm surprised they were that forthright with you. I think it's against the law, actually.

[truedelphi]

31. It is against the law. Had I one of the fancier phone/camera gizmos,

And recorded the woman's statement to me, I would have had them dead to rights in court.

But if I took the agency to court based on something I say she said, and she says "never told her that," I would only have the legal fees for my troubles.

In any event, as rotten as the economy is, you only need one job to be employed, so best of luck that that job is there for you. (My spouse once got a job at the height of one of our economic downturns here in Calif - so I know from experience it can happen.)

[AndyA]

10. So sorry to hear your news.

Sending best wishes your way, and I hope that a better opportunity presents itself in the near future.

Sometimes a big change like this can turn out to be a good thing. I hope that's true in your case.

[TwilightGardener]

11. Sorry to hear that. Hopefully, with that kind of experience, you will

be able to land something else soon. Good luck.

[fujiyama]

12. I think you'll be OK

I don't know what kind of work you did, but I get the impression things are improving, little by little - not fast enough, mind you, but I hear more friends getting offers.

Considering you worked there for so long, I'm sure you had great experience and excellent references.

[ocd liberal]

17. You may be right

and change is good. I have long felt conflicted about my working in the industry that perpetuates our demise.

[fujiyama]

23. Good luck with the search

Change is tough. I ended up back at school after I got laid off. The first semester went really well, but I'm in a constant process of reevaluating and trying to figure out what I want to do!

[JuniperLea]

13. So sorry to hear...

I hope your experience pays off for you!

My sister is a branch administrator in The OC, CA... smaller boutique firm, but same deal. I did the same for 10 years in high yeild/workouts... don't sell yourself short... your experience can get you into similarly paid positions that aren't necessarily in the financial area.

Good luck!

[ocd liberal]

14. Thanks so much, DU, for your support!

I've been trying to get into the "silver lining" way of thinking all day - more toward volunteering at my kids' school instead of curling up in a ball and sleeping for a month.

[GoCubsGo]

15. I am sorry.

Am there. Doing that. Hope things go better for you.

[renate]

19. I'm so sorry

Wow, what a huge change this is, after nineteen years.

I really, really hope that this ends up being a positive thing for you--and I think it will. This is a sucky situation but at least the economy is on its way up instead of down.

:hug:

[wellstone dem]

20. I am so sorry

usually things turn out for the better, but it someimes takes a long time to see the other side.

[NNN0LHI]

21. Do you have recall rights when things pick back up?

Do they go by seniority and call back the most senior employees first?

I am not sure I understand how the term "laid off", is used outside of the industrial setting.

Don

[ocd liberal]

22. Good point

I suppose this is REALLY a way to even out what MSSB may consider to be a too highly paid broker's assistant. They would probably take me back later, maybe, but at half my salary. Why pay a 48 year know-it-all like me when they can get an unregistered person at half the price?

[NNN0LHI]

34. I hope you get called back soon

From first hand experience I know being laid off is discouraging.

Try and stay positive.

Good luck.

Don

[Berry Cool]

24. Very sorry to hear this,

as I always am when someone joins this club.

[xultar]

26. Wow, sorry to hear. It happened to me too but there is work out there...

you will be o.k. Just never give up.

[applegrove]

27. That is tough.

[nyc 4 Biden]

28. ...

:hug:

[proudohioan]

30. I am so very sorry to hear of your lay off. Best of luck! n/t

[stanwyck]

32. I hope you're able to enjoy (yes, that's right) this time

I know it's stressful. I've been there. But, it's also a chance for you to enjoy life on the "outside". You deserve some time to just do whatever the hell you want. You'll be employed again. For now, go to the park, the library, and the movies.

[Supersedeas]

33. Damn...damn...you'll get thru this...hang tough...you got 19 years of callus to show

[TexasObserver]

35. That is very unfortunate.

The people who crash the economy while plundering it never have to answer for it, but cogs in the wheels all the way down the societal structure have to pay for it with their jobs.

[KT2000]

36. sorry to her this

wishing you well in your job search.

[greytdemocrat]

37. So sorry to hear that ocd,

It's a terrible burden that has hit a lot of us but never give up.

A positive attitude is everything and I've been there...