Feeling dread: redundancies everywhere

[LemonT17]

I think this may be my first ever post... I'm wondering if anyone else is feeling absolute dread at the state of the job market, at local, national and global levels?

In South Wales, you have Legal & General (1000 jobs), Admiral (500 jobs) and I'm sure I've seen posts from employees at Principality Building Society too. You then have the big Welsh universities who have been through multiple iterations recently.

More broadly, you have Canva announcing this week a 22% reduction in their global workforce which includes many UK employees. Microsoft reducing 60k global workforce, and Virgin Media 02 also announcing cuts this week. And I'm sure many many more across the UK that I've not yet heard of.

I worry about so many people entering the job market at a really difficult time, where the job market is already so tough when competing against AI screening tools, and now lots and lots of talented people are all looking for the same few jobs available.

When I mention this to my peers they all seem non-plused and that I am worrying about nothing. Am I over reacting?!

Younger folks need to stop mindlessly hurtling towards careers that just won't exist and parents need to stop supporting them from foing so. Going to university to do marketing/media/pr degrees is utterly pointless. People need to think long and hard about what industries are future proof. Hands-on work can earn people a very good living if they're willing to put the graft in.

Teaching - only of you teach a shortage subject! Stem, mfl.
Dd1 had to do supply for a year to get a ft role.
Most schools and the nhs have hiring freezes atm. Lots of carer jobs going since brexit. Also cleaning jobs. All nmw obviously.

It's time to start looking further into UBI, imo. I can't see the job market recovering from AI.

I think people need to adapt and adjust with the times. It’s clear some job sectors are suffering as a result of things like AI, but there are plenty of opportunities elsewhere - healthcare? Social care?

Yes, I agree with this. This is what I did. I dropped out of a photography degree due to the 2008 recession and I then focused on a career in healthcare which is very safe and secure now.

Plenty of people did this 20 years ago too. Mainly they then encountered the same issues a year later but with a tonne more debt unfortunately and competing against the new graduates. So many jobs really don’t care if you have a masters unless it’s something vocational for the job you want.

Yes I heard a good bit of radio on that water control. I totally get the creative industries situation. Also I’m worried for young people, graduates too. But I do think AI will advance due to China and if other countries vote against it they’ll lag behind.

I don’t know how benign or bad AI will be, but I do wonder if being a country that uses it for taxes for a start rather than tries to avoid it will get through the change better.

If China are using it successfully and profiting, plus building military strength with it, countries who won’t may struggle comparatively.

I agree.
Dd1s friend did a photography degree, then a masters in media.
Works 8 hours a week in a shop atm. All they can get 😕

I think the outlook is really dark

It’s not something you can really say in real life because it’s too worrying for people

i’m feeling very, very worried about it all today.

Those aren’t work focused choices even in good times though?

I’m an nhs nurse and I was working with a student the other day who will graduate soon- no jobs. Our trust has a total jobs freeze. Healthcare workers will always be needed but atm you need to be prepared to travel for work.

Perhaps we will be needing to do those jobs in care that we currently have to bring in servants people from abroad to do.

Individuals stopping using it makes no impact when our infrastructure depends on it. We got access to it long after all the massive organisations did.

Have you heard about the fridge hacks? That’s how entrenched it is in our infrastructure.

Ai is actually not cheaper than people as token use is costing more than the people it’s replacing - but fir a company ai is considered better as no employee disputes, rights, can be standardised easier, can scale easier etc etc

I actually know of someone who nearly opted for the “emergency Masters”. Fortunately, he saw sense and decided to go into the care sector.

Because all that would’ve happened with the emergency masters is more debt and his parents would’ve had to spend money to help him out. This way is much better.

Bonus - he is finding it really fulfilling. I really admire that. But we have carers helping my mum and they are amazing.

If I was young enough and had my time over, I'd be looking at plumbing, electrician, carpenter type training. Thing you have to be physcially present with actual hands to do.

Like PP said, the only way to security is with a role AI cannot take.

My husbands just been made redundant, he got a decent redundancy package but he needs to be employed in 6/12 or we are f*ed. IT.

I work in healthcare but we can't survive on my salary alone (I'm not a doctor or very highly paid so I'm not bemoaning this from the point of view of 100k salary)

So we are where we are. There's also the impact on his mental health of redundancy on top of other pressures we've had recently.

It's shit and a worry and I don't really know what can be done. Hopefully he'll get something even if it's something he's overqualified for and much lower pay working is so important for mental and physical health.

Blimey 😦

YANBU OP. It is a ticking time bomb. This is a totally new age. The AI revolution will make the industrial revolution look like afternoon tea.

People brush it off because it is too scary to actually think about properly. I don't blame them. But you are not wrong.

To quote my lovely plasterer last month:

"AI cant come and plaster your walls can it!"

I think I would go for plumber if I had my time over again. I know you have to deal with literal shit sometimes, but it seems sturdy. If you've water coming therough your ceiling you are calling a plumber regardless of the economy.

I get it. When we were offered money to leave NHS team last year I started to worry. I didn't take it as wanted to protect my long service.

Also now struggling to move on from my job, I think AI swipe my application out before it gets anywhere.

Goodness I worry for the younger generation.

I saw a shopping delivery van yesterday and thought maybe that would be secure and not be taken over by a robot but even that was a stupid thought with driverless vehicles etc.

People are going to have to consider real work again.

Thank you to everyone who has shown solidarity today, in a weird way, it's nice to know I'm not alone in feeling this. And a heartfelt sorry for everyone directly impacted at the moment. For the one poster who thinks I am being unreasonable and tied up with worry - I promise you, to most people they wouldn't know! I am getting up each day, going to work, leading teams, and being an active parent at home and in the school community... but it doesn't mean I can't feel empathy for everyone going through this at the moment, and worry about what's coming down the road :)

I think this Labour government has taxed employers through additional NICS and minimum wage increases to the point they are not recruiting much. Several places are not replacing people who leave so smaller workforce this coupled with AI replacing low skilled jobs means unemployment especially youth unemployment is rising.

I don't understand why the NHS recruits from abroad and lays off staff at the same time.