EBay Reduction in Force of 1,000 + Termination of Contract Workers - Fewer Safe Harbors in Tech (as well as knowledge work)

 In tech and much of Knowledge Work there are fewer safe harbors for making a good living. 

EBay is not only laying off 1,000 full-time employees. It is also cutting loose contract workers. Alternate work arrangements such as being a contractor or temp had been the usual Plan B (or even Plan A) for tech or other white collar sectors such as management consulting, public relations, marketing, media, finance and law.

In addition, SAP is planning to provide voluntary buyouts or will restructure the positions of 8,000. This week video game big Riot Games announced a layoff of 530. Professional anonymous network Blind which specializes in tech is jam-packed with laments from the one-time professional elite such as software developers about getting the boot and not being able to get back in, at least not "at that money."

It is "getting back in" that is the critical issue in the future of work throughout the white collar. 

How many of those axed, for example, at the LA Times and Sports Illustrated will be able to continue in a media career? 

According to Leopard Solutions, last year large law firms reduced hiring 19%. That could mean, yes, just as in 2008 - 2009, once knocked out of the box it was iffy if you could land a comparable job in practicing law. But more to the point, with AI shrinking the number of entry-level that is low-value jobs, the field could be forever downsized for the inexperienced. Only those with lots of experience and a sustained track record would be allowed to bounce out and in.  Do you really think going to law school is worth the whopper of the tuition investment?

So, what to do? The good news is that as an intuitive coach I am bearing witness to a new pragmatism. Those sensing that they are on the way out recognize that exile from their professional comfort zone could be permanent. Interestingly they also recognize that they could be seeking income from their labor, by choice or necessity, into their 70s and 80s. Therefore, it's worth the ordeal of continually transitioning. This is no longer about holding on until some version of traditional retirement.

As a result they have become realistic about two things. One is about what is marketable. Forget status and even comparable earnings. And ditch "how it used to be." Blue collar isn't looking bad. A number of former middle managers have set up micro businesses. And the second realization is that they get it that what earns a good buck today may evaporate tomorrow. 

Clients who bounce back most quickly from earnings setbacks are totally in the now and open to the emerging variables. They don't have a fantasy how they should be making a living. That rigid mindset could trigger financial collapse. 

Complimentary confidential intuitive coaching session. No pressure. Maybe even some lightness of being. Please contact Jane Genova for an appointment (text/phone 203-468-8579 or email at janegenova374@gmail.com)


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