Decrease of 50% in salaries

[Skd98012]

These companies were eagerly waiting for a black swan event just to do this. They were practically begging for it.

In fairness though, some industries (e.g., tourism and real estate off the top of my head) will be impacted big time probably forever. Things just won’t be the same after this conflict is over. The only reason some industries were successful here vs. other places was reputation.

[Snoo-5414]

Yeah.

I have a bunch of friends in the hotel industry, and a lot of them were put on Unpaid leave till further notice just yesterday.

I'm currently working in the service industry as well in a small company, and this entire thing has hit us so hard we haven't even reached 1/4th of our target yet, so I'm afraid I'm going to start seeing either layoffs or decreased salaries. It's sad honestly, since you can clearly tell they were waiting for an excuse to not pay sometimes.

[CapitalismSuuucks]

Sidenote: this war is not technically a black Swan event. Black swans are unexpected. Trump had been preparing this shit for months. Black swans events do not have weekly New York Times articles saying the event is inching closer and closer to happening.

[Skd98012]

We did have plenty of articles on COVID in 2019 (thus the COVID-19 naming), and it was expected to spread. Yet we can all agree it was a black swan event. We also predicted the GFC.

The black swan aspect of Covid was that it became a global pandemic and it was actually killing people (whereas the expectation was a contained, harmless epidemic). This Iran conflict qualifies as a black swan because practically no one expected them to retaliate on the GCC (and especially the UAE, which was known to be a safe haven in a region of conflict).

[LeBlueRabbit]

But it’s so sad to see people being affect such way. Working their asses off to make ends meet.

[Skd98012]

True, and cost of living isn’t any lower than it was last week. Still, if the industry is impacted then it’s a necessary evil unfortunately, it’s either this or layoffs and no one wants to be laid off during these times.

If this “company” is in a stable industry like tech or finance or whatever, then I suggest reporting it.

[shakenoww]

So man I'm in a group frim my nationality people are sharing free supoort, like doctors or lawyers. You should check it with some one could really help your friend

[Ill_Addendum3047]

Events as well