Today my husband came home and informed me that seven more contractors had been laid off at his work. There has been a lot down-sizing in the last year and nobody is immune from the chopping block.

At first the company appeared to be making decisions based on performance, if someone hadn’t been very productive or lacked professional drive they were the first to go. Then came the look toward individuals who could retire early, any takers? How about re-assignment anyone? Refusal to accept the new assignment may result in the proverbial “walking the plank.”

With the full intention to keep the business running and thriving through these tough economic times staffers who have been loyal, productive and necessary are still alive, contractors have been looking over their shoulders for time now.

I am a worry wart when it comes to finances. I track our spending and check our credit and debt load especially with news such as this. My husband is well respected and very busy in his position but anything can happen and so I don’t take the news lightly.

As a career consultant I know the ins and outs of the labour market at the best and worst of times. Familiarization with numerous fields makes it easier to track trends, research and advise accordingly. However, when it is as close to home as this is, I just try to remember to breathe.

I am confident in our ability to make good decisions. We have planned for just such an event, saved and adjusted our lifestyle over two years ago. Still, in hearing the news of more workers who are no doubt grappling with the transition upon them, I for one am going to keep an ear to the ground and an eye on our spending. Rainy days come quick and saving pennies was never a bad thing.