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Will Coronavirus Mean Budget Cuts (And Lost Jobs?)

Posted: Fri Mar 13, 2020 6:13 pm
by anxiousanon
I am a 3L public interest student with a job offer at a legal services org after graduation. The org's ability to hire and pay is based on NY state budget. I'm scared that this situation is going to mean cuts to next year's budget and me losing my job. Someone tell me that's crazy and calm me down!

Re: Will Coronavirus Mean Budget Cuts (And Lost Jobs?)

Posted: Fri Mar 13, 2020 8:29 pm
by haus
It is hard to say how things are going to work out. My take is that while some organizations will take a financial hit, I suspect that state and federal governments will likely hold up better than companies will.

Re: Will Coronavirus Mean Budget Cuts (And Lost Jobs?)

Posted: Sat Mar 14, 2020 12:16 am
by Whatever
I've been interviewing a lot recently for a lateral move.
One firm I interviewed with, today told me that they're likely to institute a hiring freeze due to the virus.

Make of that what you will.

Re: Will Coronavirus Mean Budget Cuts (And Lost Jobs?)

Posted: Sat Mar 14, 2020 9:15 am
by Nony
I would imagine some of the reason for a hiring freeze right now would be logistical not budgetary, with people working from home (especially having kids home) and firms wanting to limit contact between people.

(That doesn’t mean economics won’t come into play/affect hiring at some point, but I’m not sure we’re there yet?)

Re: Will Coronavirus Mean Budget Cuts (And Lost Jobs?)

Posted: Sat Mar 14, 2020 10:45 am
by classof17
WLRK just sent out an email affirming no "economic layoffs"; full "salary and benefits for as long as it takes to get through the COVID-19 crisis and its aftermath." Which I assume means everybody else is fucked.

WFH pretty much mandatory at this point unless you have a specific need to be in the office.

Re: Will Coronavirus Mean Budget Cuts (And Lost Jobs?)

Posted: Sat Mar 14, 2020 8:12 pm
by haus
I work for a company that specializes in computer forensics/incident response. We are stopping in person interviews moving to phone and online interviews only. A year ago, the company rarely hired people for primarily remote, but that has been slowly changing. It looks like in the near future, we will only hire for people who are mostly remote. I am sure that this is going to cause some adjustments.

I do not know what the overall impact to business will be. I suspect that a lot of our clients will be having a rough time with the financial impact of the pandemic, but I suspect that we might get a spike of business due to companies getting hit by viruses and ransomware as they make mistakes in their roll-out of remote work for their employees.

Re: Will Coronavirus Mean Budget Cuts (And Lost Jobs?)

Posted: Mon Mar 16, 2020 4:15 pm
by BlendedUnicorn
yes, though I agree with haus that it's probably better that your org's budget is tied to a state budget. Unfortunately none of us really know how this ends up.

Re: Will Coronavirus Mean Budget Cuts (And Lost Jobs?)

Posted: Sat Apr 04, 2020 10:09 pm
by faithandmore
It's hard to find almost any kind of job during a recession.

People who work in healthcare will enjoy the widest range of opportunities over the next couple of years.

Look at the last recession as an indicator. It will be very hard to get a decent job out of law school.

Re: Will Coronavirus Mean Budget Cuts (And Lost Jobs?)

Posted: Thu Apr 16, 2020 7:30 pm
by welltechnically
anxiousanon wrote:
Fri Mar 13, 2020 6:13 pm
I am a 3L public interest student with a job offer at a legal services org after graduation. The org's ability to hire and pay is based on NY state budget. I'm scared that this situation is going to mean cuts to next year's budget and me losing my job. Someone tell me that's crazy and calm me down!
It's not crazy to be somewhat scared but you should temper that in the knowledge that this will be a transient impact and less long lasting than a normal recession.

The difference is best understood with this analogy. If you're driving home from work, a normal recession is like getting into a violent car crash. You get home, but only after a few days in the hospital, potentially permanent damage and likely in deep debt.

The COVID related problems are more like running out of gas or getting a flat tire without having a spare. Yeah it takes you time to get some gas and for the tire to be patched, but you get home within a day and are basically unhurt though tired and maybe having spent a few hundred dollars.

Re: Will Coronavirus Mean Budget Cuts (And Lost Jobs?)

Posted: Mon Apr 20, 2020 5:24 pm
by BlendedUnicorn
welltechnically wrote:
Thu Apr 16, 2020 7:30 pm
anxiousanon wrote:
Fri Mar 13, 2020 6:13 pm
I am a 3L public interest student with a job offer at a legal services org after graduation. The org's ability to hire and pay is based on NY state budget. I'm scared that this situation is going to mean cuts to next year's budget and me losing my job. Someone tell me that's crazy and calm me down!
It's not crazy to be somewhat scared but you should temper that in the knowledge that this will be a transient impact and less long lasting than a normal recession.

The difference is best understood with this analogy. If you're driving home from work, a normal recession is like getting into a violent car crash. You get home, but only after a few days in the hospital, potentially permanent damage and likely in deep debt.

The COVID related problems are more like running out of gas or getting a flat tire without having a spare. Yeah it takes you time to get some gas and for the tire to be patched, but you get home within a day and are basically unhurt though tired and maybe having spent a few hundred dollars.
Not to be a downer but this is uncertain at best. V shape recovery is pretty much a pipe dream at this point, and so far there's really no reason to have any faith in even a 2008-2012 style prolonged recovery.

Re: Will Coronavirus Mean Budget Cuts (And Lost Jobs?)

Posted: Wed Apr 22, 2020 6:26 pm
by kittykatlaw
Probably depends on the sector. Something tied to state budget sounds maybe precarious. There are a few legal areas booming though during this (divorce, estate planning).