Beware the Next Big Threat to Your Job in '07

The next threat to your job is already looming on the horizon. It could come into play as early as the second half of 2007 -- even if the economy as a whole stays relatively strong.

That would be a huge reversal of recent good news on job losses in the U.S.

Layoffs announced in 2006 fell by 22%, according to a survey by outplacement specialist Challenger, Gray & Christmas. The number of layoffs in the Challenger survey was down 57% from the peak in the current layoff cycle that began in 2001.

The Challenger survey isn't especially comprehensive, since the company surveys only a fraction of the companies that might be announcing layoffs, but it is a good indicator of the trend in the labor market. And that trend is definitely positive. As I've argued, the flow of U.S. jobs overseas, a big part of the peak in layoffs in the past few years, is definitely slowing.

But don't get too comfortable.

If your job is less likely now to be outsourced overseas than was the case a couple of years back, that doesn't mean your job is safe. I can already see the first signs of the next big thing in layoffs. It was built on Wall Street and financed with cheap money from around the globe. I'm talking about the boom in acquisitions, both public and private deals, in 2006.

What's the first thing an acquirer does after the deal is signed?