Store Closings, Mass Layoffs, Bankruptcies, etc.

[Chop]

Family Dollar to close almost 1,000 stores

"Reuters has also reported that Chinese e-commerce platform Temu has also begun taking market share from dollar stores.

Additionally, dollar stores are facing an increase in theft, referred to as "shrink" in the retail industry. Dollar Tree said shrink remains "elevated" and would lower the company's profitability going forward. On the company's earnings call Wednesday, company executives said shrink had been accelerating."

 

[Chop]

The Body Shop shuts down in the U.S. after filing for bankruptcy

'
But the company collapsed in February, with administrators citing mismanagement and a challenging retail landscape.

“The Body Shop has faced an extended period of financial challenges under past owners, coinciding with a difficult trading environment for the wider retail sector,” the administrators said in a statement according to Reuters.
'

 

[Chop]

Laid-off tech workers turn to LinkedIn, therapy and one another to bounce back

Tens of thousands are adapting to losing what some saw as “the most stable career you could have.” A support group for ex-Googlers told members, “This was not your fault.”

The tech industry recorded about 34,000 layoffs in January, the most in a single month since January 2023, when almost 90,000 people were let go...

 

[Horn6721]

Is AI taking over? Is that the issue?

 

[Run Pincher]

Is AI taking over? Is that the issue?

No doubt 67. Some careers thought to be most secure will be gone. At least they can still get a job at McDonald's.
8 Jobs AI Will Replace and 8 It Won't (Yet)

 

[Sangre Naranjada]

No doubt 67. Some careers thought to be most secure will be gone. At least they can still get a job at McDonald's.
8 Jobs AI Will Replace and 8 It Won't (Yet)

Figures. Remember when the lefties smugly told people in their disfavored industries (like pipeline and oilfield workers) who were laid off they should "learn to code"? Now it's the lefty code-monkeys who are feeling the pinch.

Perhaps we should tell them - of course with the same level of smug superiority - to "learn to pig" or some such.

 

[WorsterMan]

Yeah, ongoing grim news of layoffs that the MSM is not talking much about. They don't want to hurt Biden. Cisco, Microsoft, UPS, Samsung, Google, now Family Dollar, and others I cannot recall.

On a personal note, I was with Brinks, Inc. - Acct. Exec. - sales of US cash logistics for financial institutions and retail. 10+ years. Big and quiet reorg in late Dec. - I was laid-off along with a large # sales and operations personnel Jan. 2. I did not see it coming. I made or exceeded my quota every year but one over 10 years. Grateful I got a very good severance package.

A number of friends that were also laid-off the last 3-6 months are struggling to find work. Anyway, I have not looked for a job in about 20 years. Job market is tough - LOTS of well educated and qualified people looking for professional work right now.

Good news is I had a good second interview today for a work from home IT sales position that will probably result in an offer next week. I will be very grateful if I get this offer - I need to work a few more years before I retire for good...

 

[Chop]

 

[Chop]

Figures. Remember when the lefties smugly told people in their disfavored industries (like pipeline and oilfield workers) who were laid off they should "learn to code"?

Welp, I suppose what comes around goes around...

Maybe some of the IT workers and Silicon Valley types can now learn to lay tile, install electrical wiring and switches, fit pipes, etc.

 

[Chop]

 

[Chop]

"One of the biggest issues...... vacancy rates... up to 6.6%, higher than it was before the pandemic."

"1.6 million housing units are under construction."

Look for big rent cuts in many (not all) areas of the Country. Probably not Texas. Florida doesn't look good. Upper Midwest probably ok--it never spiked so much to begin with.

 

[Sangre Naranjada]

Welp, I suppose what comes around goes around...

Maybe some of the IT workers and Silicon Valley types can now learn to lay tile, install electrical wiring and switches, fit pipes, etc.

That's what I meant. They can learn how to pig a pipe and other good stuff like that.

 

[Chop]

Yeah, ongoing grim news of layoffs that the MSM is not talking much about. They don't want to hurt Biden. Cisco, Microsoft, UPS, Samsung, Google, now Family Dollar, and others I cannot recall.

On a personal note, I was with Brinks, Inc. - Acct. Exec. - sales of US cash logistics for financial institutions and retail. 10+ years. Big and quiet reorg in late Dec. - I was laid-off along with a large # sales and operations personnel Jan. 2. I did not see it coming as I was at 98% of my annual quota Dec. 31 and I made or exceeded my quota every year but one over 10 years. Grateful I got a very good severance package.

A number of friends that were also laid-off the last 3-6 months are struggling to find work. Anyway, I have not looked for a job in about 20 years. Job market is tough - LOTS of well educated and qualified people looking for professional work right now.

Good news is I had a good second interview today for a work from home IT sales position that will probably result in an offer next week. I will be very grateful if I get this offer - I need to work a few more years before I retire for good...

I hope you not only land on your feet, but land on your feet on a higher step than you stood on before. Many times, it works out that way!

One underlying problem is the move away from cash, and to do away with cash. I think people should use cash whenever they can.

 

[HornHuskerDad]

On a personal note, I was with Brinks, Inc. - Acct. Exec. - sales of US cash logistics for financial institutions and retail. 10+ years. Big and quiet reorg in late Dec. - I was laid-off along with a large # sales and operations personnel Jan. 2.

Sorry to hear that news, WorsterMan. Hope the anticipated offer comes through quickly for you - and gives you the bridge you want to your retirement.

 

[nashhorn]

Hoping for the best opportunity there WorsterMan. Right now retirement can be challenging, thanks Biden, but it’s worth it if you’ve prepared adequately. Like my dad always told me, eliminate all debt and you can do it.
Chop, those videos reinforce my phobic attitude towards the insane apartment building going on everywhere. It’s all pre planned long ago and it’s working.

 

[Chop]

Hoping for the best opportunity there WorsterMan. Right now retirement can be challenging, thanks Biden, but it’s worth it if you’ve prepared adequately. Like my dad always told me, eliminate all debt and you can do it.
Chop, those videos reinforce my phobic attitude towards the insane apartment building going on everywhere. It’s all pre planned long ago and it’s working.

There is a segment of the leadership class in the US (it's much stronger in Europe) that does not want the average family to own their own home or other property.

 

[Run Pincher]

There is a segment of the leadership class in the US (it's much stronger in Europe) that does not want the average family to own their own home or other property.

Government ownership is better isn't it? I think I heard some brilliant philosopher named Marx or something said that.

 

[Horn2RunAgain]

Right now retirement can be challenging, thanks Biden, but it’s worth it if you’ve prepared adequately. Like my dad always told me, eliminate all debt and you can do it.

Eliminating debt is the biggest single factor imo. The earlier the better. Hard to do when you're helping your adult step kids but it's a big step.

 

[mchammer]

Yeah, ongoing grim news of layoffs that the MSM is not talking much about. They don't want to hurt Biden. Cisco, Microsoft, UPS, Samsung, Google, now Family Dollar, and others I cannot recall.

On a personal note, I was with Brinks, Inc. - Acct. Exec. - sales of US cash logistics for financial institutions and retail. 10+ years. Big and quiet reorg in late Dec. - I was laid-off along with a large # sales and operations personnel Jan. 2. I did not see it coming. I made or exceeded my quota every year but one over 10 years. Grateful I got a very good severance package.

A number of friends that were also laid-off the last 3-6 months are struggling to find work. Anyway, I have not looked for a job in about 20 years. Job market is tough - LOTS of well educated and qualified people looking for professional work right now.

Good news is I had a good second interview today for a work from home IT sales position that will probably result in an offer next week. I will be very grateful if I get this offer - I need to work a few more years before I retire for good...

WM - I’m sure you will be fine. If you could survive the Charlie years, you can survive this.