I am new to this forum. Over the last 2 weeks i have eagerly read all your comments. Guess what... we are in the same boat. I thought i would provide some information as to what has been going on my end.
In total, our google traffic is down 40%. There has been slight ups and downs but nothing significant. Things i have spotted:
1. SERP's have shown really old page titles we have not used for years
2. In webmaster tools, sites pointing/linking to us has gone completely bonkers....
3. We have found some odd domains pointing to our site.....we are a uk business and there is some Italian government site pointing to us. our site also comes up when you type some of there keywords.
4. We have had some duplicate issues (meta tags) in webmaster tools for the last 6 months and google just has not got its head round it.
I have to say, i feel really sorry for small business's who have lost 80% traffic...come on google sort it out.
We can cope as we have several streams of revenue from other online marketing sources. However, dont get me wrong..... this has probably cost us a fair packet so far. This ultimately will result in several members of staff lossing there job.
Something is amiss - this does not feel like an algo change.