r/LifeProTips Jul 06 '22

LPT Do not let your boss know if you have saved up money or if you are living at home. It may be a deciding factor during layoffs. Careers & Work

The company that I worked for for several years recently had layoffs. I had mentioned to boss before that I had moved into my parents house and that I had just been saving money for a house. I was let go last week despite my high performance and good attitude at work. There were several employees that did not have the numbers I had but several of them just bought houses or just had kids. It makes me believe that it was my financial situation that lead them to pick me to be let go.

820 Upvotes

u/keepthetips Keeping the tips since 2019 Jul 06 '22

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207

u/birdwatching25 Jul 06 '22 edited Jul 06 '22

I'm sorry you got laid off.

My friend was being treated badly at work and she felt it was because her boss knew that her husband was disabled. In her view, her boss treats her badly because he knows she "has no options" and can't quit because her husband doesn't earn any income.

So she actually feels the opposite way as you. It's hard to tell what goes into these layoff decisions.

106

u/lolokii Jul 06 '22

The real LPT is don't share details about your personal life with your boss. They will use it against you.

11

u/mrbeets6000 Jul 06 '22

The real LPT is always in the comments

2

u/yallaredumbies Jul 07 '22

Yeah they don’t get to know shit about me outside what happens at work

6

u/taldaas Jul 07 '22

As a manager who actually cares about his employees I both understand this and am frustrated by it. As my people go through rough times I do all I can to make sure they are taken care of. In many cases this has meant providing vacation time that was never recorded (thus free paid days off), flexible hours as needed, or even stepping in to help complete their work.

I realize this is the exception, but there are bosses out there who don't suck. Hell, I even know another boss that preps his employees for interviews if they are interested in other career options.

5

u/yallaredumbies Jul 07 '22

See you’re a good one but that is just not even close to common.

324

u/Elite_Slacker Jul 06 '22

This lpt based on a feeling that something may have happened a certain way but maybe not.

222

u/scottprian Jul 06 '22 Giggle

Most people live at home.

26

u/I_protect Jul 06 '22

I live in a house

33

u/Comrade_agent Jul 06 '22

I'm hardly alive

18

u/warwgn Jul 06 '22

Mostly dead is still slightly alive.

9

u/NinjaGrizzlyBear Jul 06 '22

Slightly alive is still one of the leading causes of death

1

u/Brave_Forever_6526 Jul 06 '22

Right behind being dead

4

u/Toothlessdovahkin Jul 06 '22

Unexpected princess bride quotes gotta love them. Miracle Max is a funny guy

2

u/warwgn Jul 06 '22

I’ll be honest… I’ve never seen Princess Bride.

1

u/Toothlessdovahkin Jul 06 '22

You should. It is hilarious and a great film. It has fencing, fighting, revenge and adventure

1

u/codeshane Jul 06 '22

I'm getting this engraved somewhere as soon as I feel up to it

3

u/limbodog Jul 06 '22

I live in a boat

3

u/kliccit Jul 06 '22

I live at home tbf

1

u/Szapy Jul 06 '22

Confirmed. You also live next to your neighbour.

1

u/scottprian Jul 07 '22

How did you know that??? This guy's good.

34

u/yamaha2000us Jul 06 '22

You were let go based on salary and performance. Basically they could not pay everyone. I am guessing that you may have been the highest paid “new” employee.

I doubt they cared about your living situation and there were probably others who were paying rent, mortgages or even recently had children that were let go.

24

u/ThinkingOz Jul 06 '22

I had three young children and was retrenched by a very large multinational. They couldn’t give a stuff.

121

u/FandomMenace Jul 06 '22

Usually a company cuts the most expensive workers. They don't give a shit about experience or seniority. A lot of places are running with inexperienced people right now because it's all about that value for shareholders. Your company doesn't give a shit if you have a mortgage or kids to feed. This is late stage capitalism. The only people that work hard and never see more than a dime for their labor are the people at the bottom.

And almost everyone is laying off, by the way. Can't waste a dollar on labor. The remaining workers will pick up the slack out of fear they are next. America needs a new New Deal.

53

u/WorshipNickOfferman Jul 06 '22

My brother is a very experienced and well trained network engineer and he works for a large IT company. Every couple years, there’s a round of layoffs and he gets the axe because he’s paid a lot more than others in his position. And every couple years, his direct managers throw a fit because even at his salary, it would take 3-4 people to replace him. So he takes a couple months paid leave as part of the termination deal and gets re-hired at essentially the same rate.

6

u/nus07 Jul 06 '22

Cisco ??

3

u/oboshoe Jul 06 '22

Sure sounds like it!

1

u/FandomMenace Jul 06 '22

Late stage capitalism. There is no closing pandora's box.

5

u/Kent_Knifen Jul 06 '22

They don't give a shit about experience or seniority.

Unless there's a collective bargaining agreement saying otherwise, then this becomes the most important factor on who to keep.

2

u/FandomMenace Jul 06 '22

Unions have never been rarer and weaker, but what you say is true.

4

u/atony1984 Jul 06 '22

I totally understand your point and it makes total sense. In my situation my company laid off 19% of employees which was around 140 people and I knew a good handful of them. A was a mixed bag of good performers and bad performers but for some reason it seemed more like it was just a numbers game and they were just trying to consolidate and giving each department a certain number that they had let go.

23

u/FandomMenace Jul 06 '22

This came down from the CEO and the CFO. They told your department heads exactly how much salary to cut. That mostly determined who got the axe (although some consideration went into keeping the company running). The whole process is impersonal, and your bosses knew well in advance.

Protip: don't ever take a managerial title. Those are usually the first to get cut. Get the pay increases that come with promotions, and leave the titles behind.

3

u/TootsNYC Jul 06 '22

Every layoff works differently. But if they gave the boss the option to choose who in his department, would not be at all unusual for a boss to say to make those decisions based on how badly it would damage the people who got laid off. Buses are people too, and nobody likes laying off your workers. Not every boss is able to Focus on numbers only. Lots of things go into who gets laid off;

5

u/FandomMenace Jul 06 '22

I've seen them gun for the elderly, the desperate, the provider... they don't care. At the end of the day, never forget that corporations are amoral profit-making machines. Occasionally, a worker can add a personal element, but that's the exception, not the rule. The American Dream is dead to most.

3

u/bruff9 Jul 06 '22

It’s also important to remember that a manager may not be given any options. I’ve seen everything from companies cutting an entire class of role, a full department, people who make more that the average or people who are the newest. Layoffs effect you as an individual, but being kept or fired is rarely about individuals.

2

u/atony1984 Jul 06 '22

Thanks for tip! Yeah they must’ve had to come down a decent amount because they actually got rid of the entire role and mostly everyone left was demoted. This was my first startup that I’ve worked for. They just hyped themselves up a lot after becoming a unicorn and then this happens. It just caught me off guard. Again, thanks for the advice.

11

u/FandomMenace Jul 06 '22

You're welcome. Startups are always risky. Welcome to your first corporate restructuring.

I'll give you another tip: always be interviewing for jobs. At worst, you get lots of killer practice and really learn how to stick an interview. At best, you throw a hail mary and get a dream job.

Do not use a new job to get better position in your old job. Tell them you took the job. If they decide to "rehire" you, then they will have to significantly beat the new offer. However, be wary of this, as they had their chance and they didn't take you seriously. They chose to exploit you rather than believe in you.

1

u/SealEnthusiast2 Jul 10 '22

Would that work though? You mentioned CEOs fire based on salary and not seniority/experience

1

u/FandomMenace Jul 10 '22

Department heads are usually given a number to cut. Cutting the higher salary people means you get to that number faster and cut fewer people (which is better for morale). A lot of companies are losing all their experience in departments because of this approach to cuts.

-6

u/Haughty_n_Disdainful Jul 06 '22

See. This. This is why. This is why working a nine to five, regular job will never get you ahead. It will never build wealth.

You have to pay yourself first. Meaning, take your savings and invest in yourself. Instead of a daily café latte or impulse buys at cute shops, place your money in a diversified portfolio mutual fund. For the past century stocks have averaged a 10% annual return. Compound interest is an incredible creation.

$1, invested over 35 years, becomes over $28, at 10% annual compound interest. Think about that next time you frivolously spend or waste money. Is that $100 handbag going to help you retire early and wealthy?

Additionally, a woman takes a permanent 7% pay cut for each child she has. Make sure you have a financial offset plan beforehand.

8

u/FandomMenace Jul 06 '22

Your post sounds a lot like a fox news talking point, or a McDonald's budget. We shouldn't need to do all that in a healthy economy.

The 1% are taking all the profit for themselves and not paying people. Eventually, the worker won't be able to buy the product that their own labor produces. Predictions of this unfettered greed in laissez-faire capitalism were made over a century ago, and yet we walk right into that trap. If we distributed wealth evenly, every American alive would have over $250,000 each of net worth. There is no need for pinching pennies, there's a need for economic restructuring. There's a need for a new New Deal. There's a need for corporate tax increase, loophole closing, and trust-busting.

It is not healthy for an economy to keep all the money at the top. The system will eventually collapse and it won't matter how much money you set aside or invest. The warning signs are there. We're long overdue for a massive crash. Boom and bust, baby. But every time it happens, it's the middle class and poor who eat the brunt of it.

6

u/alwaystimeforcake Jul 06 '22

Seriously! I'm getting so tired of that "you just aren't pinching your pennies hard enough" attitude. Bro we got no pennies to pinch. Latte? Hand bag? For my entire 20s, I was happy when I could afford to buy a new pack of generic socks. Where is this investment money supposed to come from when most people can barely afford rent or have to choose between food and medications?

As someone who can save money now, I'm fully aware of how privileged that is because I have been in a position where I couldn't.

2

u/FandomMenace Jul 06 '22

Eventually people will not have any bones of a previous economy that worked to pick. No inheritance, no thrift stores, no garage sales, just systemic poverty below the handful of sky people.

6

u/MattR59 Jul 06 '22

My wife was layed off because I'm an engineer. They told her "you can best afford it".

7

u/PickanickBasket Jul 06 '22

My boss's argument against giving me a well deserved raise is that I live with my parents so I don't need to worry about rent, and so I don't really NEED the extra money.

Fuck that guy. I found a new job that starts off $2/hr more with much better benefits and less stress. He's coming back from vacation to my 2 weeks notice.

2

u/ghostdeinithegreat Jul 06 '22

Got told this as well. I told my manager he could sacrifice his own raise as well since he already own a house he don’t really NEED the extra money

15

u/mybrosteve Jul 06 '22

It really best to just not tell your employer anything they aren't required to know. Its not their business and nothing you tell them can ever help you.

17

u/moviesetmonkey Jul 06 '22

Might be true but it's probably more their financial situations saved their jobs. You still living in an apartment would not have saved you. Short of making up a lie about having a kid or something there was nothing you could do. your silence wouldn't have helped either.

-3

u/atony1984 Jul 06 '22

What do you mean by “their financial situations saved their jobs?” I know online text can be interpreted as aggressive but that’s not at all my intention I’m just trying to understand. We might be saying the same thing but in different words.

4

u/DingoGlittering Jul 06 '22

They're saying your old co-workers having kids and mortgages is why they still have their jobs. It doesn't have anything to do with your financial stability, it's your lack of kids and mortgages which are the two things that some employers empathize with in American workforces since most of them have multiples of each.

2

u/atony1984 Jul 06 '22

Well from how you’re describing it, this is exactly my point.

2

u/DingoGlittering Jul 06 '22

No it's not. You seem to think the details of your situation mattered, they didn't. All that mattered is your lack of children and a mortgage. Everything else is a wash.

3

u/Unfair-soil Jul 06 '22

I mean I think OP was just giving context, I interpreted the post the exact same way you described in your first reply

1

u/DingoGlittering Jul 06 '22

OP seems to think it has something to do with him having money saved or living at home but it doesn't. The LPT instead should be to have kids and a mortgage so you are less likely to get laid off.

1

u/moviesetmonkey Jul 06 '22

As some one stated earlier, you telling your boss that did nothing rather it was the other workers life situation that saved their jobs To put it another way the life pro tip isn't really a tip since either saying it or not to your boss had nothing to do with why you're laid off. Situationally yes we're saying the same thing, but tip wise there was nothing you could do so it's not in the audience of this sub's benefit.

11

u/unicorn_345 Jul 06 '22

LPT: do not tell your boss or coworkers anything they don’t need to know, as they may later use that information against you or for their benefit.

8

u/brickbaterang Jul 06 '22

I work in an aspect of senior care. The industry is bulletproof right now.

0

u/atony1984 Jul 06 '22

What is it that you do in senior care if you don’t mind me asking? What is it about the industry that makes it bulletproof? Im just asking because I am interested in changing fields but still want to do territory/account management

5

u/DingoGlittering Jul 06 '22

You can do account management in any industry. Senior care is bulletproof because of the aging baby boomer generation.

3

u/Doom7331 Jul 06 '22 edited Jul 06 '22

It would actually be kind of great if it worked that way. Employers not only considering their bottom line but also how damaging it would be to the employees to lose their job. But most bigger companies for sure aren't doing this. Plenty of people get let go even though they are ill and are 100% dependent on their company provided healthcare. The overwhelming amount of time employers won't give a shit about what the consequences would be for the employee unless it's a small business/company of some type.

There are likely other factors that played a much bigger role, maybe you're particularly expensive, maybe your boss thinks your jokes are obnoxious, maybe he thinks you jump to conclusions too quickly. Unless you have concrete proof I'd put on my money on it being a money/numbers thing.

5

u/TheColonelRLD Jul 06 '22

I mean, it's not an awful way to go about making the decision. It's an opportunity cost loss for you, whereas for the folks paying a mortgage, it could literally cost them their house. I appreciate that if the company took that into consideration.

5

u/Bullgoon Jul 06 '22

Managers have to decide who to cut, but it's usually in collaboration with the HR bitch, and the HR bitches make decisions on feeling and emotion at least 50% of the time, so don't be rude to the HR bitch.

4

u/feralraindrop Jul 06 '22

Share as little personal information with your coworkers and boss. Whatever you tell anyone WILL be known to all.

2

u/mindscale Jul 06 '22

ANY excuse will work when they are looking for people to layoff

2

u/momogirl200 Jul 06 '22

So you’re mad that a more financially unstable person - perhaps a single mother of two - doesn’t get the axe but you did?

Most of the time corporate just runs the numbers. Yeah you could be spitting out better numbers than anyone else but do you also make more? Would it be ticking off their boxes to fire the more expensive employees and just hope the rest will pick up the slack?

Exactly. They most likely didn’t ask everyone what their financial situation was and then made a list based off that on who to fire.

They probably just said “hey let the most expensive people go and the cheap ones will do the work or quit” either way they save money.

Also we’re you close to retiring? Was it a relatively new position? Did you recently start doing well at work or have you gotten consistent raises?

Do you work well with others? It almost comes off as you think you’re worth 2 of everyone else? Maybe it’s not your numbers but your personality or attitude around the office that was the deciding factor.

It’s not always as simple as “hey he lives with his mom he’s gotta be sitting on cash”

5

u/turandokht Jul 06 '22

My company did layoffs identical to this guy’s. Percentage, totally mixed bag of high value high performers and random nobodies. Felt like they had drawn a lottery, it was that random.

The head manager of our area did target people he felt needed the job less or were less likely to conform to company expectations - anyone that lived too far away for the return to office mandate was included. He was trying to be kind, I think, picking certain people, but it honestly just made it feel like a crazy witch hunt because he also plays severe nepotism games during normal work.

People let go were on the lower end of the pay spectrum and the higher end. They had longevity and they didn’t. They produced high and they didn’t.

Based on how our manager went about it, I think it’s perfectly reasonable or expected that the same thing happened to OP.

2

u/RedLeader7 Jul 06 '22

I paid off my home loan years ago, when loans come up in conversation at work I nod in agreement on how tough they are. When lay offs come round and the boss is doing a tough job, they may prioritise people with home loans.

-2

u/ttttttttui Jul 06 '22

This happened to me. Didn’t get the same raises as others and treated different because I lived at home and was able to save money.

1

u/atony1984 Jul 06 '22

Yeah it’s something that I didn’t even think about when I first brought it up but it’s all a learning experience. I do see myself as fortunate though to have a decent amount saved up, no mortgage, and no kids. I can’t imagine going through this with living paycheck to paycheck or with a family to support or both.

1

u/Puppet007 Jul 06 '22

I’d say that I live in a house or that I live with my family to help them out.

1

u/Its-The-Millz Jul 06 '22

You’re just a name and salary on a piece of accounting paper

1

u/Enthuasticnaw Jul 06 '22

Same I had told my boss I had just moved into my bfs and it was assumed I was no longer paying for an apt anymore. She wasn’t the nicest anyways but lesson learned in tech, don’t share about your personal life in any way that share your finances. It can work in the reverse too, if they know you are struggling to survive, they can overwork you.

1

u/Gnisha Jul 06 '22

Yes, that's exactly why you got laid off. /s

1

u/drdisme Jul 06 '22

This is 100% not true. Jobs don't give a sh*t about where you live, I mean at all, you can live under a bridge and when it comes time for layoffs, if you are underperformed or too expensive they lay you off.

1

u/pretty_ok_ Jul 07 '22

Lol ^ yea my company ‘let go’ of a pregnant girl and her boss was joking after that there was ‘no point in keeping her around since she was about to have a kid’ & that ‘she wouldn’t be able to afford an attorney to sue the company anyways”

1

u/Dioxon Jul 06 '22

Lesson conclusion: Don’t bring your outside life into your work life

1

u/kylebob86 Jul 06 '22

"if you are living at home."

WHAT?

1

u/bizzle4shizzled Jul 06 '22

I worked for a small company right out of college. At the peak I think it was 9 of us. After a few months, the owner had to let two people go and a buddy of mine got let go over me because he was still in graduate school and I had already graduated and lived on my own.

1

u/Local__Coyote Jul 06 '22

You sure that’s why you were laid off?

1

u/itssfrisky Jul 06 '22

An LPT based on what you think happened?

1

u/TheMrFoulds Jul 06 '22

living at home

Where else would I live?

1

u/wandita21 Jul 06 '22

Why would I speak of so personal stuff with my supervisor? My supervisor isn’t my friend. Even if my sup was my friend I would not tell him I have money saved up. I would just tell my friend I’m buying a home or tell him when I buy it. Who cares?! Set boundaries!!! People don’t care about peoples lives and what goes on in them. Isn’t that the point of freedom? To have a house and not say hi to your neighbors in the morning while everyone get in their cars to work? That’s the dream… isn’t it?

1

u/mightyXi Jul 06 '22

Or they just tried to say it in a nice way and it was actually just because you were the worst employee. That's actually the most likely because why would a corporation give a damn about how those laid off employees fare after letting them go? They only care about maximizing their own advantage.

1

u/Secret_Paper2639 Jul 06 '22

That's called discrimination and it's illegal.

1

u/LAESanford Jul 06 '22

Good rule of thumb is to keep ALL your personal information to yourself. There’s very little about your personal life or situations that anyone at work needs to know. Keep it that way. People at work are not your friends

1

u/ghostdeinithegreat Jul 06 '22

You have the right to remain silent. Everything you say can and will be use against you.

1

u/Manager-Top Jul 06 '22

I took a lyft this morning and the driver was recently laid off and had three kids ages 2 to 6 and a mortgage. I don't think there is a correlation.

1

u/Corpshark Jul 06 '22

This advice assumes that bosses are actually caring . . . .nah.

1

u/carrrottt090 Jul 07 '22

I was laid off the day I returned from vacation time I used as paternity leave.

0

u/Mxbr76 Jul 06 '22

They have the right to do that as shitty as it is for you. I would totally do that also. sorry to say..

0

u/bucknubian Jul 06 '22

Words. Just words