How safe is your job?

squired

Given the current economic situation I thought it would be interesting to hear from different people on here about how things are in their job. Are they safe, or at risk of redundancy? Do they have savings to cover a period of unemployment, etc? Is the possibility of job issues causing sleepless nights.

Personally, I work in the financial services industry. We were told last night that there will be massive redundancies announced a week or two before Christmas. Having said that, I'm pretty relaxed at the moment. Although I would hate leaving as I love it here, I'm a saver. I'm also a single guy, sharing a mortgage with my brother. Thus the thought of redundancy doesn't get me into a panic. Having said that, a friend of mine working in the medical field was made redundant a couple of weeks ago. He has a wife who stays home looking after the kids and a large mortgage, so is in a major panic trying to find something quickly. Another friend is in his last year of university and said that there are absolutely no jobs out there in the area he wants to work. He's not too worried yet, but as he gets closer to next summer I know he will start to get worried.

ride_whenever

just started a PhD, so i'm set, hopefully until the recession ends and I can then get a good job, or just stay in academia and bimble my life away...

alan_sherman

Savers get screwed - you don't get benefits until you have used up all your savings.

Another kick in the nuts to people that actually prepare for the future, or the right thing to do as only those who are destitute should receive benefits?

Hmm

chuckcork

Too late for me, already made redundant.

As I'm an architect and the construction industry is sinking fast I don't expect to find anything any time soon, certainly not expecting to do so before Feb next year. Hopefully after that the interest rate drops will make things a more more viable and projects will start happening again.

Financially OK though, have some savings to give my missus and myself a bit of a cushion, and my missus can earn by herself in London what we were earning together here in Cork so with prudence we'll come through.

Only problem is we have a mortage to pay as well and due to penal rates of stamp duty in Ireland that will be levied on our house if we rent it within 2 years of buying it, we can't rent it out, so we will have to pay rent on one house (we are living in) and a mortgage on another (we aren't living in) so a tight year ahead!

Bikerbaboon

I work for a heating engineer company that has most of its income from reapirs..... No mater how tight the money gets boilers will still breakdown and need fixing. I sould be ok for most of the crunch.
My father inlaw is a prop developer and he has been on hoiliday now for the last 6 months as there is nothing to build as there is no housing market to sell in to.

downfader

I work in the nhs (catering) and its been over our heads for years, probably since I started 13 or so years ago. Constantly told "no money mate" and about staff cutbacks, etc.. You just get used to it.

One thing that annoys me about redundeny is how many people with lots of qualifications who lose their job think its beneath them to go and work in catering, tesco or wherever as a tie-over. Surely any job is a help whilst you serach for your ideal? :?

chuckcork

downfader wrote:

One thing that annoys me about redundeny is how many people with lots of qualifications who lose their job think its beneath them to go and work in catering, tesco or wherever as a tie-over. Surely any job is a help whilst you serach for your ideal? :?

Depends on how you look at it.

If I go to work in a barely paying job, my 15 month old will need to be in care full time, which around where I'll be in London from 2 weeks will cost about £240 a week, though we could probably find a carer a little cheaper. If I'm in a job that after tax and travel costs pays barely more than that then I would ask what is the point if my missus can cover the costs of living anyway?

Other point is, who do you think Tesco would be happier to employ, a highly qualified person who isway overqualified, doesn't want to be there, and apt to leave at the first opportunity, or someone else who will stay with them and repay the cost of whatever training they are given?

graeme_s-2

I work as a Technology Integrator for a Business School at a UK University. I work with undergraduates, and feel reasonably comfortable, but the School gets significant portions of its income from corporate contracts, which will obviously be at risk now, which is a worry. I have a permanent contract, and I think my job is fairly essential to the smooth running of the undergraduate programme. There are still newly created posts being approved here at the moment, so I would hope I'm reasonably safe.

My girlfriend's a Phyisotherapist for the NHS. Her hospital has already cut back in the Physio department over the last couple of years, so I suspect she's fairly safe as well.

We have a mortgage, which is big but not huge, but we both have a fair bit of consumer debt and no savings worth mentioning. If either of us were made redundant we'd be in pretty big trouble pretty fast. We're both focusing on clearing the non-mortgage debt as quickly as we can at the moment.

So basically if either of us made redundant we're stuffed, but it seems relatively unlikely that we would be made redudant.

hopper1

I'm a consultant in the Oil Industry :oops: , I work for myself, and have just finished a contract. I don't see any real worries at the moment with picking up another contract, but this industry has always been unstable, so you never know....
I try not to get too hung up on watching the barrel prices.

beverick

Ask me again on Wednesday. The announcement of the 'efficiency review' is announced on Tuesday.

I don't expect to be around these parts at christmas.

Bob

synchronicity

I rent 'pro' bikes in Tenerife. Ie. the tourist industry.

Even after all the bad news at the end of september I was still getting bike reservations for october. Despite that, I believe that the recession is going to hit harder probably after christmas.

I've put my heart and soul into my business in the last 2-3 years. Business (or rather market penetration) seems to be growing just as the recession is kicking in, so I'm finding that the two are cancelling each other out. I.e. I'm certainly no worse off than before. In fact I now get more regular enquiries + bookings compared to last year.

I've already given too much thought to "what if" type scenarios. Basically it all depends on the high-season. If that doesn't eventuate, I'll likely call it quits. If it does all go belly-up my plan is to move back to Australia and get into a renewable-energy field.

hopper1

I'm counting my blessings, right now.
A friend and I wanted to open a cycle shop, so over the past few months we have done a lot of research, into location and which particular market to aim for, etc...
We knew it was going to be tough, but it would have been as much a labour of love as a business, and with a struggle, were confident we could make it work, enough at least to sustain itself.
Oh how glad we are that we never got to commit to it before this credit disaster!
That would have cleaned all my savings out, and left me in a very precarious position, now.

Slow Downcp

I'm always concerned about my job, but that's because I have opinions that not everyone agrees on and I'm happy to express them. The way I see it, I'm paid to do a job and save the company money where we can (I'm a financial controller) - but much of the time this involves treading on someone's toes. That said, we do have some savings and I hate my job anyway - maybe it would be the push I needed to do something about it.

Funnily enough I was also looking at buying a bike shop a few months back - realise I wouldn't make as much money as I do now, but I may at least enjoy going to work.

Electricpics

I'm a press Photographer. Our company, NCJmedia in Newcastle, has just announced 23 redundancies. They're hoping to fill them all voluntarily but if they don't... :shock:

drewfromrisca

Well luckily (unluckily in my opinion) I'm old bill so I'm safe as we don't have reduncancies. Not that it makes me fell any better as I absolutely loathe it but at least it's a wage!

My girlfriend is an architect and is slightly worried, especially as her visa depends on it otherwise she's shipped back to the states.

We have no savings whatsoever, I used to have a good stash but after having no enjoyment or life I decided to blow it all and have a few fantastic years, regretting it a bit now :oops: .

I'm one of these live for the moment type of guys :roll:

iain_j

I work for the police, so with any luck we're not going out of business! Our department has been trimmed down over the last couple of years so i think my job's safe. In fact i'm just about to move up a grade- passed the interview, just paperwork to finish off- so things are looking better.

Electricpics

drewfromrisca wrote:

...My girlfriend is an architect and is slightly worried, especially as her visa depends on it otherwise she's shipped back to the states...

Unless of course, you pop the question....!!

drewfromrisca

Electricpics wrote:

drewfromrisca wrote:

...My girlfriend is an architect and is slightly worried, especially as her visa depends on it otherwise she's shipped back to the states...

Unless of course, you pop the question....!!

Easy Tiger!!! :shock:

Although its been discussed...hey at least I would get my visa too

Mithras

Less money = more crime....Very unlikely to get made redundant...

andyp

Given how useless the old bill seem to be in catching bike theives maybe a few redundancies would shake them out of their doughnut eating complacency?

passout

I'm a lecturer and the recession makes little difference to my colleagues and I personally - unless they have investment properties perhaps. In fact it can encourage more applications from students who decide to come to Uni. and 'up-skill' rather than face a very uncertain job market. Our jobs are at least as safe as before the credit crunch.

I have a large mortgage (a tracker) so the recent rate cuts have really helped me out. Especially as the Mrs is at home with the babies for a while - down to one salary.

Some private sector companies (like Aldi) are doing very well in the currrent economic climate.

drewfromrisca

Never once have I seen a copper eating a doughnut...kebab's yes but doughnuts no! :roll:

toshmund

I work for a Japanese corporation. Not made a redundancy in the corporation since 1948, which traumatised the Japanese parent company so much, never done it since. The plant in Kentucky have been doing community service in the local area. Our plant made the local news/Radio 4 for doing some gardening work at a special needs school, so they could use it for "green studies". Years ago, we did massive amounts of overtime to keep up. At the time, quite hard - but at times like this, makes you appreciate the mentality. Some may not admit it, a good company to work for.

I was in the army before this, we used to have Manning and Records reading us the riot act...you are overpaid/underworked etc, then the Gulf war 90/91 kicked in. Before that though, even the forces were under scrutiny.

Still don't feel for the city bankers who have had to hand the keys back to the 355. That kind of greed, self perpetuates...although, if I had the keys...I might have a different opinion!? Doh.

Noclue

chuckcork wrote:

repay the cost of whatever training they are given?

They train Tesco staff? :shock:

I'm a firefighter so should be safe as long as people remain careless, which is likely where i work.

chuckcork

Noclue wrote:

chuckcork wrote:

repay the cost of whatever training they are given?

They train Tesco staff? :shock:

I'm a firefighter so should be safe as long as people remain careless, which is likely where i work.

Well I would assume the staff at tills would need to know how to operate them.

fossyant

We should be OK - I was a Financial Controller in a construction/utility company 18 months ago, but hated it - now working in Higher Education. Less pay, but better hours, pension and holidays, so should be reasonably secure, although I'm looking after the pennies of a couple of the Faculties.... My wife works part time for a construction company, but they seem pretty busy so far...

My sister, on the other hand, was made redundant about 4 months ago - she's a commercial property lawyer.....absolutely no jobs - loads being made redundant. she's applied for a number of jobs, but no luck yet...... lives on her own in a flat, has mortgage protection for now, but to get any job, she needs enough to cover her mortgage (first time buyer a few years ago)....it's not looking good.

markos1963

Luckily I'm in a fairly recession proof job(train driver) so I hope that nothing happens from my point of view. However no matter what the economy is doing a relatively minor error can mean that I'm off the road and out of a job.

RSV_Ecosse

Myself and the missus are quite fortunate.

She is head legal cashier in a law firm. Conveyancing is on the downturn but the neds and chavs are still out there commiting crimes, so the criminal part of the business is doing fine.

And me?......Well, people will still be having fires in their houses, crashing their cars and require to be extricated out of the wreckage or rescued from some other unfortunate and dangerous situation.

So I reckon my job is pretty much safe, as is her's.

I will say though, although my part time business is still providing more than enough work for me to be getting on with, I've noticed a "knock on" effect of the hardships other businesses are going through onto my web design business.

Ieuanllan

I work for a company that takes outsourcing contracts from pharmaceutical companies, so as people will always get ill, I thought I was fine until yesterday.
Everything was going swimmingly, September was a record month for sales.
Yesterday we get told that no one would be getting a pay rise (yeah, I know, Boo-hoo etc), as sales have dropped by 90% September to October :shock:
So now I'm not so sure!

edhornby

I work for a financial services company, who have just pulled the plug on an outsourcing project because they didn't have the cash to finish the project - so my job is safe because of the recession !!!

iainf72

Toshmund wrote:

Still don't feel for the city bankers who have had to hand the keys back to the 355. That kind of greed, self perpetuates...although, if I had the keys...I might have a different opinion!? Doh.

Ultimately, the really big earners are fine and have no worries. In investment banking it's the back office and support staff who take the brunt of it and are often just like everyone else who can ill afford to be out of a job.

I hope everyone on here comes through it ok - There will be a lean couple of years for sure.