Out of curiousity, are the brunt of these cuts intended for blue- or white-collar positions?

I'm a Labour Relations Manager in the automotive industry.

I had to let go another batch of workers yesterday because GM moved the work to a more 'favorable' climate which translates roughly to . . . .

Forget you folks. We can send this over to China or India or Viet Nam and cut our costs even further

They do this all the while they leach from the taxpayers' wallets to save their executive arses.

I'm so angry . . . and scared . . . and defeated . . . and tired . . .

For the first time in my 46 years, I can't see a 'future'.

That's the real toll.

You forgot to add that everyday 2,700 America homeowners receives a foreclosure notice.... You don't hear much about that as reporters don't like to go to the tent cities springing up everywhere in the nation.... Makes for bad press don't ya know...

Had to post in this thread because this is real ladies and genst. I'm out of a job. I was laid off 15 days ago. You know how much work there is for a carpenter in my union right now??? JACK SQUAT. And the lay offs are still rolling too.

i was making a lot more money as well... unemployment MAXES OUT at $450 a week....... i know i can make rent.... but if i want to pay my utilities i had better start hiding snacks around the house now becasue i won't have anyhting left to feed us.... Yes my friends this is the reality of the situation. This is the type of thing that will make an honest man turn criminal. Working men and women with no where to work and mouths to feed??? what would you guys do?

Hopefully that makes it easier to understand why i am a little pissed at the governement...

I'm glad I'm not smart enough to play the stock market.

There hasn't been a credit card I haven't liked or a loan deal I haven't jumped at or at least thought about jumping on. I for one want to admit my contributing role to this meltdown fiasco. As much as I want to blame the government for it, I also have to look in the mirror and realize that I helped create the problem. Anyone care to join me?

Instead of putting it on credit, I should have payed cash.

Instead of buying BS stuff on credit I should have saved and invested.

I spent countless money at casinos, money that I didn't have. Oh how I loved credit. Now I have seen the light and realize that credit is good if used in moderation. But before this meltdown I never stopped to think what moderation was. Now I have a better understanding.

Consumer Confidence in U.S. Plunged to Record Low (Update1)

By Shobhana Chandra

Oct. 28 (Bloomberg) -- U.S. consumer confidence fell to the lowest level on record in October as stocks plunged and banks shut off credit, raising the risk spending will tumble.

The Conference Board's confidence index decreased to 38, less than forecast and the lowest reading since monthly records began in 1967, the New York-based research group said today. A separate report showed home values continued to drop in August.

Household wealth has evaporated as the Standard & Poor's 500 index verged on its worst one-month loss in 70 years, home equity shrank and job losses mounted. The dimming outlook signals consumer spending, which accounts for more than two-thirds of the economy, will deteriorate further, deepening the U.S. slump.

The bottom line on all of this is that I'm just plain old scared now.

Having been the one sitting across the table to tell people that their jobs are gone and not coming back has given me great insight into how it affects people.

The dull realization of it is that eventually, and probably sooner than later, I will be the one sitting across the table having my job taken away by the same corporate elite that stole so many others.

Awaiting that and watching our tax dollars going to those same elite while they collect their hundreds of millions in annual compensation fills me with the greatest degree of contempt for those responsible for what is going on in our economy today.

Some . . . a lot of that contempt is very inwardly focused, too. As one poster stated, I too have to accept the fact that I am in the position that I am because I bought in to the live now, pay later lifestyle.

A five years ago, I had money in the bank, a boat, a car, a house, vacations . . . all the trappings of a pretty comfortable lifestyle. It was all built on the idea that I'd always have this job, I'd always get those annual 'merit increases' to start saving and paying down more. But, I've not had a wage increase in those five years. The paydown of debt hasn't gone as planned. It has gone from living comfortably to just getting by.

The last straw came in August when the boat took a crapper. The plan was to fix and sell it. But the bill was way more than I could afford and the sale fell through as the buyer also lost their job. Now the repair shop has 'repoed' the boat and tacked on legal, seizure, storage cost and the like to the tune of nearly $5000.

For the first time in my 46 years, I'm going to 'lose' something . . . have something taken away because I can't pay my bills. It isn't that I don't want to pay . . . I can't pay.

My investments are basically worthless and my pension that I've contributed to weekly over the past twelve years has lost half of its value . . . poof . . . gone . . . vaporized into that mythical 'faith based' air upon which our current system is built.

The reality is . . . I'm the average . . . the norm . . . the 'Joe Six Pack' who has been out there living the dream as advertised . . . I am one of millions in the same predicament.

This isn't a woe is me thing . . . I realize I got into this mess, and will somehow come out of it with at best a place to live and reliable transportation that will get me here and there while I look for a job.

I've started stockpiling food so my partner and kids have something to eat at least in the short term, but I wonder what happens when that runs out. How will I keep the house heated, the lights lit, the car fuelled?

Knowing that the job loss is coming is a tacit confirmation that things will get worse and that fills me with the greatest dread imaginable.

As scary as things are, I feel fortunate that I know how to handle economic pinches. Living in a high cost of living area most of my life without the income to match, I've always had to accept not having access to the "American Dream" lifestyle: still no house/mortgage at age 40, most of my furniture is second hand or things I've had for years, my wardrobe collection is the basic T-shirts and jeans with a few "nice" things to piece together. Although I do have a few luxury-type gadgets, they are all paid for. I've got no pension/retirement plan due to living paycheck to paycheck and frequently changing jobs due to frustrations I won't get into here and now. I do have a small amount of debt - smaller than many others I know, but still too much for me (any debt is too much for me).
But I'm OK so far. I know how to live cheap when I need to, and I can willingly do without if I must (I just wonder about my husband, though). And I'm still looking forward. Looking forward to moving out of this area to cheaper digs for one. I feel a strong tug to get back to a simpler, leaner, more self-sufficient life.

This is a little of what is on my mind lately, it may be redundant to some, but I hope it can spark some inspiration.
And so, I'll lend a few findings from my own path in life:
Rice and beans together make a complete protein - and both can be gotten in bulk relatively cheap.
I've been googling "homesteading" and "Urban suburban homesteading" and getting a lot of info on frugal living and self-sufficiency. As independent as that lifestyle is, there is still a strong community in homesteading who cooperate and help each other continue. Something to learn there.
your local library has a great many resources, and can lead you to a great many more resources - just talk to a librarian.
utilize your community and social services, such as your local employment center. most if not all states have them - just look it up through your local Dept. of Labor website.
Either of the previous two options can possibly lead you to a career counselor who may be able to help you translate your skills and experience into related work.
The medical and care fields are still going strong.
A Commercial Driver's License of a Class B or higher, with either Hazmat or Passenger endorsements is a valuable thing to have in a declining job market - there are always people looking for drivers.

Just a few things.

Years ago I learned that just because I was poor did not mean that I had to live poorly... consequently someone with that knowledge will fare better in the coming years than those who have been spoiled and expect to have it all.

Originally posted by W3RLIED2
You ever seen a proud union man say he was ready to go scabbin'????

Well you just did.

There is no such thing as 'pride' where feeding & caring for you family goes. We had a massive Boeing mchinist strike happen up here that looks like its about to be resolved. Honestly, I sat here dumbfounded that Boeing even bothered to deal with the union during the strike. Considering that they would have had absolutely no problem filling every position that struck, IMO the unionized machinists were damned lucky that they even have jobs waiting for them.

That's probably the #1 reason I have no use for unions. It's one of the world's biggest pyramid schemes and shams. You've got a handfull of union bosses who party it up with the company brass and keep their personal hand out for money until they feel their pockets are full enough and then they work out a marginal at best "compromise", sell it like it's the second coming of Christ to their members, and declare victory... all while the corporate suits are sitting in their offices chuckling about it. Add to it the fact that they liberally pad politicians pockets with union funds and is it really any wonder that many of us despise unions? (and please don't think I despise the union workers. I do not. I think you're either misguided (if you're staunchly pro-union) or essentially forced into compliance in states that allow mandatory union membership, but I respect the hell out of the work you do for the most part.)