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Work and the downturn

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wizzzard
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PostPosted: 07:07 - 20 Oct 2008    Post subject: Work and the downturn Reply with quote

I dont know if we have had one of these threads before but i'v started so ill finish.

I manage a small furniture store and with the ecconomic downturn at the moment im presently crapping myself over my jobs future.
Iv seen sales drop over the past six weeks to half their usual amount and frankly if they drop anymore theres going to be heads rolling here.

What do you do for a living and has it been affected in any way by todays financial problems ?
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Robby
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PostPosted: 07:13 - 20 Oct 2008    Post subject: Reply with quote

Civil service.
We seem to have celebrated the downturn by creating a new department. I'm being transferred into it, and doubtless we'll be hiring a lot of new staff.

Suitably insulated from the real world.
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The Shaggy D.A.
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PostPosted: 07:31 - 20 Oct 2008    Post subject: Reply with quote

I've been made redundant. The parent company deals with payment protection insurance, but profits have dropped 80% in the last 3 years*. A lot of the smaller companies in the sector have gone under, but they've been big enough to weather it. So far. One of the ways they've acheived this is to cut the software development wing as it's not their core business and we weren't making enough to stand on our own yet.

I'm not worried (yet), but the wife is having the screaming abdabs.

* My heart bleeds.
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Wafer_Thin_Ham
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PostPosted: 07:33 - 20 Oct 2008    Post subject: Reply with quote

I think a work we are pretty ok at the moment. Last week sales were down about 2% or something, but were up for most of the first half before it really bit, so I should be ok for now.
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KLR600
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PostPosted: 07:55 - 20 Oct 2008    Post subject: Reply with quote

I work at a dry ski slope (hardly a career type job but I like it for now) and we've had a pretty rubbish summer by all accounts although they are comparing this summer to some really good summers where the weather was good for the whole season.

I'm hopefully having a talk with my manager today to finalise my permanent contract as they've been really keen to keep me on which is nice to know after saying it was most likely going to be a temporary position for the summer.

People are blaming the credit crunch for this season at the slope but in my opinion I think it's been the weather that was the main factor in the lower figures, especially as it poured down non stop over the August bank holiday weekend which is traditionally the time the slope is at it's busiest all year round.

I read an article in the paper yesterday about a mountainbike shop that I used to work at that is closing down which the press had some big "Credit crisis forces cycelshop closure" headline or something like that. They were painting a picture of people simply not buying bikes anymore but they forgot to mention that a much bigger and better bike shop had opened up about 400 yards down the road from him about a year ago. Even before they opened they offered him an obscene amount of money (much much more than his business was worth) to close shop and leave this newer shop to it but he refused for whatever reason and now has had to close shop because of it.

The article got me thinking about how much of this recession stuff is just media hype as I'm sure this isn't the only case of the media not having all the facts right, don't get me wrong though, I know there are some serious problems at the moment but it seems that some people are using this recession thing as an excuse for other stuff which just fuels the bad hype.

Eeep, didn't mean to write an essay! Sorry.
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Shaun
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PostPosted: 08:03 - 20 Oct 2008    Post subject: Reply with quote

I work for a medical supplies company.

I just got a bonus and they've booked the christmas do at which they're paying for my hotel room, meal and all drinks.

People like Luke keep me living comfortably. Thumbs Up
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JonB
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PostPosted: 08:26 - 20 Oct 2008    Post subject: Reply with quote

Where I was working primarily over the summer we had bad effects from the "credit crunch". I worked at a wildlife park and whilst takings were up in the food and drink outlets, overall we was down on takings at the entrance due to having to encourage people to come with buy one get one free vouchers.

As a consequence generally we were completely under budget and so there is only one zoo curator compared to 5 back in March and most of the food venue staff were made redundant. Me included. Not that it mattered as I was a temp anyway, but it still sucked to be told that you are not needed.

The general consensus is that the Wildlife park will be shutting down for the 2009 season with no scope for re-opening which is sad as when it was "Crinkley Bottom" 10 years ago I spent most of my childhood there. Sad
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Hetzer
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PostPosted: 08:39 - 20 Oct 2008    Post subject: Reply with quote

I've dropped my advert, after ten years continuous placement. All my work is now coming from regular clients and referals. Fortunately I've got my fingers in other pies, otherwise I'd be bust right now.
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Kwaks
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PostPosted: 09:12 - 20 Oct 2008    Post subject: Reply with quote

Work on the rigs, no downturn for us Thumbs Up
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Hetzer
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PostPosted: 09:17 - 20 Oct 2008    Post subject: Reply with quote

kwaker6r wrote:
Work on the rigs, no downturn for us Thumbs Up


Hope you're brushing-up on your zero-point tech. Laughing
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hellkat
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PostPosted: 09:26 - 20 Oct 2008    Post subject: Reply with quote

Shaun wrote:
I work for a medical supplies company.
....People like Luke keep me living comfortably. Thumbs Up


Laughing innit Laughing

I've just managed to blag a fairly bog standard NHS secretary job, and probably not a moment too soon: dicking around being unemployed, and spending my own money wasn't suiting me very well any more.

The med sec job is rubbish money and I'm bored of it already (looking at Monday's Media Guardian today already) - but in terms of job security.. well: people are always getting sick. It pays the rent and I expect so long as I have this job I'll be reasonably comfortable. And as long as her majesty keeps her job ... Shocked ... things shouldnt be a struggle.
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Shaun
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PostPosted: 09:40 - 20 Oct 2008    Post subject: Reply with quote

OOOOO

What hospital do you work for? I might have to call you one day, ask for the accounts payable department and have you put me through to the wrong person because apparently that's what NHS staff love doing. Evil or Very Mad
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Itchy
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PostPosted: 10:27 - 20 Oct 2008    Post subject: Reply with quote

KLR600 wrote:
The article got me thinking about how much of this recession stuff is just media hype as I'm sure this isn't the only case of the media not having all the facts right, don't get me wrong though, I know there are some serious problems at the moment but it seems that some people are using this recession thing as an excuse for other stuff which just fuels the bad hype.

Eeep, didn't mean to write an essay! Sorry.


It isn't hype , the problem is debt, in that we have reached debt saturation point , you can't create more debt = system failure.

This is why the bank bail outs have in effect failed LIBOR has increased and shares are still a falling knife.

Capitalism as it exists relies on ever increasing growth or debt.

Liars for loans and the banks who loaned it to them are complicit in this..

Person lies on a loan , bank loans, person has trouble paying loan due to external factors or interest rates going up

Person goes bankrupt bank loses the amount they loaned out (there is a difference between the repo sale amount and the loan), bank loses money.

This is ok if house prices increase but people got debt saturated.

Bank to recoup money tightens credit lines and increases interest rates, this causes more people to get into trouble and so the circle continues.

Those outside the loan loop , think why should I buy now when I can get it in X months time for a lot cheaper and hold off...

Until the market bottoms out stagnates for a while.



But back to the OP I work in accountancy , laws require biz to go through us though rather a lot of our clients are going bust, so I'm just sitting tight and watching this unfold, somebody I know who works in insolvency is doing very very well and has been doing well for years, he made so much money he took his what can only be described as a mansion apart (5 floors) and turned it round so he could have a different address.
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GhostRider
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PostPosted: 10:45 - 20 Oct 2008    Post subject: Reply with quote

Work for a company that makes and sells test kits to clinics/hospitals etc for certain diseases. We had a company meeting the other month and someone asked if the credit crunch/current economical situation was going to affect us. The managing director said no, as we dont really owe the bank much money so even if they did want it back we could pay it and still have plenty of profit, and then mentioned that typically, in such crisis as these, people tend to become a bit more neurotic and think they're sick, and so go to the doctors, who request test, which we sell, so if anything we were in a situation to profit from this.

Still gave us a fucking lowsy pay rise though, but thats prob nowt to do with credit crunch, and more to him being a stingio bastardo.

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hellkat
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PostPosted: 10:49 - 20 Oct 2008    Post subject: Reply with quote

Shaun wrote:
OOOOO

What hospital do you work for? I might have to call you one day, ask for the accounts payable department and have you put me through to the wrong person because apparently that's what NHS staff love doing. Evil or Very Mad


You couldn't ring me anyway ... I'm like a permanent temp, and am supposed to move around to different offices within the hospital (Royal Brompton) depending on who is away or who needs help catching up with their typing. So far I've only been in the Cystic Fibrosis Dept, this is my fourth week, and I STILL haven't been shown where my ACTUAL real office s Laughing

But this one is quite nice for now. It looks out over Chelsea Square (I think it is - lovely leafy road with nice houses in) and which includes five, yes Shocked FIVE (5) Shocked empty motorcycle parking bays with ground anchors, an impossible to believe situation, nobody ever parks in them, and I am looking forward to parking my bike in there when I get round to getting it going.
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jayvfr
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PostPosted: 10:52 - 20 Oct 2008    Post subject: Reply with quote

I work for a business that supplies training and review software (oooh E-Appraisals Ftw!!1!) to HR, basically means we are here to save people money in the long run which hopefully means we aren't going to do too badly out of all this....Fingers are well and truly crossed!
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LeeR
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PostPosted: 11:10 - 20 Oct 2008    Post subject: Reply with quote

Well ASDA is a lot quieter, all the chavs have moved to Lidl, Netto, and Aldi Very Happy
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Mrs Kickstart
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PostPosted: 11:19 - 20 Oct 2008    Post subject: Reply with quote

Hi
Well I work for HSBC who are busy spending money to prove they can at them mo.
There is also a lot of IT work for finanical compaines comming as there are going to be loads of new regulation comming out soon (I heard the comment it will make the basel 2 projects look like a walk in the park)

so hopefully I will be busy for a while working for the evil empire

Regards
C
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UnknownStuntm...
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PostPosted: 11:24 - 20 Oct 2008    Post subject: Reply with quote

Jon B wrote:
"Crinkley Bottom" 10 years ago I spent most of my childhood there. Sad

Altogether now, "Cricket St. Thomas near Chard"

Back OT - the company I'm with is in the building industry (supplies, tools and so on), and because we occupy the 'more cost concious' end of the market, we're apparently doing very well indeed.
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panrider_uk
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PostPosted: 11:35 - 20 Oct 2008    Post subject: Reply with quote

I work for a company that makes carbon fibre.

We were bought by the Chinese a couple of years ago so no lack of money so far.

Mark
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hellkat
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PostPosted: 11:42 - 20 Oct 2008    Post subject: Reply with quote

Itchy wrote:
somebody I know who works in insolvency is doing very very well and has been doing well for years, he made so much money he took his what can only be described as a mansion apart (5 floors) and turned it round so he could have a different address.


I'm just highlighting this for The Esteemed Daughter, who works in insolvency and who I am trying to convince that its a worthwhile line of work for her to get *PROPERLY* trained into, instead of just dossing about and being a secretary for them ...

Cheers Itchy Mr. Green Thumbs Up

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Pay attention ... you need to be able to afford to buy me a 5-floor mansion apartment, okay? Laughing
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Feasty
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PostPosted: 11:45 - 20 Oct 2008    Post subject: Reply with quote

I work for a large company that services banking equipment (No, you read it right the first time! Wink ). We've just taken on another 3 people which would make you think we're doing alright - unfortunately past history of my company indicates this probably means we'll all be gone in 3 months time! Rolling Eyes
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Shaun
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PostPosted: 12:01 - 20 Oct 2008    Post subject: Reply with quote

hellkat wrote:
I'm just highlighting this for The Esteemed Daughter, who works in insolvency and who I am trying to convince that its a worthwhile line of work for her to get *PROPERLY* trained into, instead of just dossing about and being a secretary for them ...

Cheers Itchy Mr. Green Thumbs Up

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Pay attention ... you need to be able to afford to buy me a 5-floor mansion apartment, okay? Laughing


I didn't realise that's what she did, then yes, it's very worth getting in to.

Speaking to the guys who came and tore the old group down I worked for they seemed far from short of money and work. After doing our company they were off to close down a fancy car company, they were glad they got that job because it meant they could have a play in the fast cars.

They offered myself and a colleague some commision based bonus, we both got out of it with about 2.5k each, if we got that I'd love to know what they got out of it!
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neil.
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PostPosted: 13:26 - 20 Oct 2008    Post subject: Reply with quote

I work in a university (specialised tech support for music technology facilities and equipment) and all the staff just got a 5% pay rise last week. Seems the government wants people to be in education as then they aren't listed as unemployed. Also, more folks choose education at the moment to 'ride out' the bad job market. Shocked
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The Shaggy D.A.
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PostPosted: 13:58 - 20 Oct 2008    Post subject: Reply with quote

If I could get, say, £24k for being in education, I'd jump at it Smile
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