Should we want for more, than head above water?
I think so. I think that we should be able to do more than just stop ourselves from drowning, do more than survive this life for a number of years, and then move on, having made no difference. What is the point of survival if we make no relevant change?
Of course, first and foremost, survival is necessary, and in the society in which we live, financial capability is the way it is done. When we face difficult times in the economy and people are being "let go", the impact it has depends on what the person has done prior to prepare, or what they haven't. A lot of us leave this consideration only until after we need it. It is like learning to deal with stress, when already stressed - not the best time.
I have been trying to set up for adverse conditions for several years now, but I am not there yet. At this pace, I reckon it is a couple years away before I could feel more comfortable if I lost my job, but that doesn't help me now if it were to happen. And in the current economic climate, that is a possibility, especially since a lot of tech companies in Finland are making cuts of convenience.
Essentially, once one or two companies make cuts, it gives other companies the opening to make their own, even if there is no dire need to do so. And, the timing is good for this, because the economy looks like it is struggling, but probably isn't struggling as much as it seems. Toward the end of 2024, it is likely to look much better in the economy, but making "business decisions" now can make it look like it was those decisions that led to better conditions, rather than the "natural" (the economy is engineered) change in the market cycles.
Not only this, a lot of the tech companies are also beholden to venture capital investments, which means there is a constant pressure to give a return, especially after a preset period of time. Getting rid of people helps the balance sheet look healthier.
But, in a place like Finland that has very strong labor laws, it is difficult to get rid of people en masse without good reason, like they do in the US. There is a long arbitration period (6 weeks or more), and lots of legal and financial considerations for companies to work through. This makes the process very expensive, and there can be a lot of blowback. But, when the economy is apparently struggling, it is easier to have the negotiations, which is why a lot of companies happen to "align" on their timing.
Sometimes, companies don't handle these kinds of periods well, making knee-jerk reactions, or lazy decisions like "ten percent from all departments", which indicates that there is no real business need for it. There is a case for restructuring however, which is often leaned upon at these times, but it has to be real restructuring, not just cutting headcount. As the markets change, restructuring is needed at times and also, some people aren't going to be suited to the new organization.
I am not overly concerned with losing my job, though there is always the possibility, and if this does happen, I am definitely not prepared enough for it. It would be a major struggle for us as a family and would likely force us to sell our house and consolidate. This is probably a better option than trying to hold on until we can no longer survive, and have to do this anyway. However, there is a little buffer there, so it wouldn't need to be immediate and, there might be time to get an interim job, like burger flipping, or filling shelves at the supermarket -if I am qualified enough without Finnish language.
Keeping head above water is not pleasant, yet it is the experience that many of us have - more so for the unprepared. And, I feel very unprepared, even though I have started a while ago. There hasn't been enough time to get all the ducks in a row, and keep more than our heads above water and eventually, hopefully, find dry land.
Times are definitely going to get a bit hairy for many people though, so it is foolish to think that I will be unaffected, even if the chance is slim. Eventually, everything has a knock-on effect and what we do now is going to be emphasized even more when the corner is finally turned. Being able to survive and make modest investments now, into something that will generate value later, can provide a massive windfall in the future.
All I know is that struggling to keep the head above water, but not learning to swim to shore, will eventually lead to drowning. I have heard it is a good way to go - but not when drowned in debt.
Taraz
[ Gen1: Hive ]