Talk

Advanced search

How likely are you to lose your job due to the impending economic calamity?

(95 Posts)
CloudsCanLookLikeSheep Fri 08-May-20 16:44:42

The economy is screwed and so are we. I'm currently furloughed but due to return in a couple of weeks (they are rotating team members). My job involves a lot of travel so whilst it is possible to do it from home, it's not really the same level of quality and they could probably have more work done with less people once the travel element is removed (it wouldn't be classed as essential business travel). Can't see me doing any work related travel this year at least.

The company I work for is not first in line to go bust (like retail, travel etc) but does offer services to some of those industries so if major clients go bust then it will certainly affect income.

I'd say I'm 50:50 that I'll be made redundant, usually i'd just pick up contract work in that scenario but I can see there being lots of people in the same boat and very few contracts.

Trying to save as much money as possible now to add to meagre savings. Husband doesn't work but rents out a property which would tide us over, so long as our tenants continued to be able to pay rent.

OP’s posts: |
Iamclearlyamug Fri 08-May-20 17:14:26

Touch wood I should be ok - I'm self employed and lost a big client shortly before lock down but have picked up some more work with another of my clients. Income has gone down a bit but so have my outgoings - my highest business expense is my fuel Bill!

Anotherchangeanothername Fri 08-May-20 17:17:33

50:50.
We could loose our biggest client (50% of revenue) in which case probably goes up to 80:20 (to be made redundant)
I got a couple of things going for me (female being one) but I think I would happily go and get out of my industry.

Fallulah Fri 08-May-20 17:17:36

Not me but DH has been put on consultation for redundancy while furloughed. Job can’t be done from home and is a form of retail.

ssd Fri 08-May-20 17:20:21

@Anotherchangeanothername, why does being female means that's going for you, am confused with what you mean?

Waxonwaxoff0 Fri 08-May-20 17:22:06

I don't know honestly. I've been on furlough since the end of March. I'm in the manufacturing industry, we sell to both high street and online retailers and since the shops are shut we've lost about 60% of orders. It depends on how long lockdown goes on for and whether people will be buying when the shops do reopen.

TheLovleyChebbyMcGee Fri 08-May-20 17:23:03

I'm confident I'll be ok, I work in microbiology and test covid samples! However DH is in higher education so we're much less confident about his job!

Ilets Fri 08-May-20 17:23:46

Highly likely. My whole sector is fucked for the next few years. I'm going to re-train

Tootletum Fri 08-May-20 17:23:56

I'm already a contractor and I already know I will have no work after this one. Well, unless I want to do a shitty job for less money somewhere really far away that won't work for childcare.

AhGoGo Fri 08-May-20 17:24:09

Senior management so I should be fine (and good company so we’re definitely going to survive this albeit saddled with a lot of debt) unfortunately there’s going to have to really tough decisions to make about staffing levels and there’s time’s I can’t sleep for worrying about it. Uncertain times.

quarentini Fri 08-May-20 17:25:29

I'm pretty sure I will be made redundant soon.
I'm a chef.

ellanwood Fri 08-May-20 17:26:36

I already have. Luckily it was part time and I do a lot of freelance work too, but loss of it will significantly impact on my income this year until I can build up more freelance work, if that's possible during a massive recession!.

TazSyd Fri 08-May-20 17:27:26

I’m working from home and DP is furloughed.

He’s worried about his job as they supply the hospitality industry. Although his job is transferable to other sectors. He’s looking for a new role but there is hardly anything being advertised.

I work in the private sector but it’s for a tech / utilities type company. I hope I’m fairly safe (for the time being) as most of our customers are public sector and they are large, long term projects.

We can survive on one salary but all luxuries would go.

JacobReesMogadishu Fri 08-May-20 17:27:42

As a university lecturer when the universities start going bust it’s possible.

FloggingMoll Fri 08-May-20 17:28:07

I'm a self-employed copywriter. I'd say I was pretty fucked. Am looking for jobs in any industry that'll have me right now. Think things are going to be pretty bleak after they bring the furlough scheme to an end.

UnmightyBoosh Fri 08-May-20 17:28:45

I’m furloughed from a charity and I have no idea really - it depends how our fundraising appeals go and when we can reopen our shops.

itsgettingweird Fri 08-May-20 17:30:13

I hope not as I work in a school! Parents are desperate for them to open not for teachers to be made redundant and home school to continue grin

TazSyd Fri 08-May-20 17:30:20

@JacobReesMogadishu

I’ve seen some articles about universities recently - going to be hit very hard by the lack of foreign students, due to the higher fees they pay?

JacobReesMogadishu Fri 08-May-20 17:32:30

@TazSyd yes. Universities are likely to be in a lot of trouble. I don’t think they’ll all survive.

Dollywilde Fri 08-May-20 17:33:38

Marketing manager in a law firm. I’m about to go on maternity leave and they only pay stat mat so I’m hoping that I might be able to ride out the year and things could be a little brighter by the time I return next summer. Law firm marketing was cut quite brutally in some forms following the recession and the firms that made the most cuts really struggled with picking up talent and growing when things started to improve - I’m just praying the industry has learned from that and we won’t see vast swathes of job losses.

Dollywilde Fri 08-May-20 17:34:12

*firms, not forms

Grobagsforever Fri 08-May-20 17:36:05

I work in talent management consulting, we've already had redundancies and furloughs, I doubt I'll survive the next round.

I'm a widowed parent and hate the responsibility of being the sole provider. Thank god DH had decent life insurance so I have enough to survive for around 18 months, so hoping I could ride out the recession.

anyoldname76 Fri 08-May-20 17:38:57

I hope not, I've been working all through, although some people in the company have been furloughed, I work for a heating company and the list of services to be done when we can is massive, we are expecting to go very busy once the restrictions are eased, I can't fault my employers during this crisis tbh and they've definitely earned my respect

CountFosco Fri 08-May-20 17:39:02

I'm in Pharma. We're busier than ever.

Thecatisboss Fri 08-May-20 17:40:24

I received a letter re redundancy consultation on Thursday so I'm not too hopeful. DH job, in insurance, seems to be OK he thinks, so hopefully we'll be able to ride this out till I get another job (me and everyone else!)

Join the discussion

Registering is free, quick, and means you can join in the discussion, watch threads, get discounts, win prizes and lots more.

Get started »