If you haven't heard, the price of oil is down. Everywhere I go, I hear at least one person talking about it. "Oh, it will come back up soon." or "We better get used to this for a while." Nobody can really predict that, because they couldn't predict the price falling. Nor could they the last time. Or the time before that. I digress.
Along with this change comes the threat of layoffs. Companies are letting people go left and right, and some companies are even calling it quits completely. If this has happened to you or a family member, it will be OK. Hang in there.
My first job out of college was as a TV news producer. I was producing the 6:00 PM newscast. Then I got promoted to doing the 10:00 PM newscast. Then I was doing both the 6:00 PM and the 10:00 PM newscast. Every day was a 14+ hour workday with very low pay. Seven months later, I was laid off. I walked out the door and immediately drove to another TV station, and snagged a job producing their 5:00 PM newscast. But in that moment of terror when I didn't know if I could find another job, my most prevalent thought was "Hang in there."
In 2008, I got an office job for what was, at the time, the highest salary I had ever made. Eight months later, I was laid off. This happened at a time when layoffs in the area were the norm, and hiring freezes were put in place left and right. Six months passed before I got another job, and I didn't get a good-paying job until almost a year after that. Money was tight, and my wife and I even moved in with my in-laws to save cash. But the one thing that my wife and I kept saying to each other? Hang in there.
In 2011, I was laid off again after being with a company for a little over a year. This was about a month before our move to Las Vegas, and I was about to quit anyway, but the sudden stop in income made our move a little more financially difficult. Admittedly, with the lights of Las Vegas at the end of the tunnel, it was easy to hang in there.
I have friends who have been laid off recently. Acquaintances are fearing for their jobs. "Job security" is a relative term in west Texas. For some, going back to school is an option. Others are thinking about moving to other cities or states to get a fresh start. Some have been financially wise enough to put some money away in case of a layoff. No matter what your situation is, do me a favor. Hang in there.