Another Knot At MegaCorp

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Good old MegaCorp is having a tough old time.  After some really strong performance over the last 18-24 months, they have gotten themselves into a bit of a knot lately.  Yesterday, the company reported sales & profits dropped, they reduced full-year investor guidance (even though it’s only Q1), and are slashing 2,000 jobs around the world.

I connected with a few former colleagues and it all came as a bit of surprise to them.  We exchanged the usual “things have really fallen apart since you retired” dark humor, but I know it is frustrating for the ones who are getting close to their dreams of FIRE (financial independence & retired early).

It reminded me of MegaCorp’s equally dark days a few months before I announced my resignation.  I wrote about it in this post: ‘An Awkward Knot’.

Whether you are immediately impacted by the layoffs or not, it can put a wrinkle in your FIRE plans.  You can end up looking for a new job at a new company, stay at the same company but in a job you don’t relish, or be rewarded with a terrific severance package that makes your FIRE happen sooner than expected.

The good news is that folks that have already been pushing toward FIRE are the most prepared for these uncertainties.  They are the ones that realize that they are working for themselves – not MegaCorp – and that ‘you shouldn’t love your company because it will never love you back’ (my first bosses’ advice).

Here’s to hoping that good friends and colleagues at MegaCorp sail through these dark days and perhaps a few of them actually benefit on their trip toward FIRE.  For everyone else, it will hopefully serve as a good reminder that “you leave a company the same way you come in – without a job”.  At the very end, you’ll want that departure to be on your terms not theirs!

Image Credit: Pixabay

One thought on “Another Knot At MegaCorp

  1. Another reminder that the company will cut you in a second. Things are definitely different than they were many years ago. The trick is to save and invest for early retirement if possible (for your late 40’s/ early 50’s) This way you are prepared. The upside is if you get laid off you can just take a nice severance package and unemployment and ride out into the sunset.

    Like

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