11,000 jobs gone in two days more to come?

[DreamChaser23]

www.google.com/amp/s/www.bbc.co.uk/news/amp/business-53247787

It seems from August employers will have to pay pension and national insurance contributions so firms are increasing in the number of redundancies.

Of the 9m furloughed how many do you think will lose their jobs before 2021? More than half at least?

I used to look at jobs on the secsinthecity website - prestigious PA /EA type jobs with salaries from 25k - 80k.

Last year there were around 2300 vacancies in London. Today it’s 287. The agency websites have less than a dozen jobs going. There used to be a plethora of well paying PA jobs in London!

@FluffyKittensinabasket

I used to look at jobs on the secsinthecity website - prestigious PA /EA type jobs with salaries from 25k - 80k.

Last year there were around 2300 vacancies in London. Today it’s 287. The agency websites have less than a dozen jobs going. There used to be a plethora of well paying PA jobs in London!

Our firm is phasing out PA roles. I'm expecting redundancy any time really

DH works in automation (robotics) in manufacturing, self employed. That seems to be stable for now, sadly they have not been able to have so many people working there due to having to keep people 2m apart so I guess things which can be automated would be better for the employers. Sad for the general workforce though.

EnlightenedOwl - I’m sorry to hear that. They always seemed to be lots of PA jobs. Which industry do you work in?

I remember a couple of years ago, one financial services firm outsourced secretarial services to Poland. EY and Pwc also started to have virtual PAs with one day a week in the office.

Legal PA. Half our job is going to a team of data inputters. We have to train them. The other half will probably go to admin assistants on next grade down morphed into their roles or lawyers will be told DIY

@EnlightenedOwl

You will have a lot of transferable skills though. As a Legal PA.

The job market is dire at the moment, I read the KPMG / Rec report for April and May, open vacancies plummeted more than they did in the height of the financial crisis. This won’t last forever, recruiters DP is speaking to say they are expecting it to pick up in September. Some sectors will still struggle due to social distancing but generally they are expecting there to be more roles around.

fjrgroup.com/wp-content/uploads/2020/06/UK-Report-On-Jobs-KPMG-REC.pdf

Here’s the link, if anyone is interested.

[quote TazSyd]@yinnybun

It’s complicated isn’t it. People (including me) should be spending our money but it’s difficult when so many people are losing jobs, instinct is to save instead.

I saw another report saying that while spending was down people are paying a lot of money off debt instead. So that means the financial services industry will be hit too, as they won’t be receiving as much money in interest payments.[/quote]
I agree with this. I usually spend quite a lot each month on clothes, take out etc. I've been much, much more frugal and am paying a lot more money off debt. For example I've cleared two cards and am paying double on my loan in order to clear it. My husband works for a large company but has been told there will be redundancies across the country. I want to make sure we have as little debt as possible. I've also been buying a lot of second hand clothes instead of new

@ballsdeep

Same here. We’ve been getting our weekly take away from the supermarket instead of restaurants. I think having the possibility of redundancy on the table, or looming, does make you adjust your spending dramatically.

[quote TazSyd]@EnlightenedOwl

You will have a lot of transferable skills though. As a Legal PA.

The job market is dire at the moment, I read the KPMG / Rec report for April and May, open vacancies plummeted more than they did in the height of the financial crisis. This won’t last forever, recruiters DP is speaking to say they are expecting it to pick up in September. Some sectors will still struggle due to social distancing but generally they are expecting there to be more roles around.[/quote]
Yes and doing some training too so hope it will be ok

I've not been made redundant as it was a fixed term contract but after 1 year and 11 months it's not being renewed. The same job will be readvertised as soon as education goes back to normal but in the mean time I've lost my job. They'll then spend more money on supply fees in the interim before a new candidate is selected but they'll have 'saved' on my meagre wages.

I'm preparing by taking on a summer job, expanding my side hustle and hoping to get a new job before my old one is readvertised. I know it's purely a business decision but it stings to be dropped when the job does exist in the very near future.

1,300 jobs to be 'lost' at John Lewis:

www.theguardian.com/business/2020/jul/09/john-lewis-closes-eight-stores-with-expected-loss-of-1300-jobs

Not many people can save either if they are on furlough and taken a 20% pay cut

Now 4,000 jobs lost at Boots too, what a nightmare 😔

Very depressing

I’m old enough to remember the mass unemployment of the late 70s and early 80s. It was grim. And despite the recessions since then I never thought I’d see such high levels of unemployment again.

Some of things like WFH and online rather than in store shopping have been increasing for a while but I’m not sure that as a society we’re prepared for such a sizemic change in such a short space of time. The knock on effects are huge and as long as any form of social distancing exists there are many businesses that simply will not survive.

One of my clients slashed everyones pay by 20% a few months ago. Then they realised they weren’t that badly effected by the economic problems so they put everyones pay back up to 100% and backdated it. And gave everyone an extra weeks paid holiday to say sorry & thanks.

Just wanted to add some positive job news if possible.

(my job isn’t safe coincidentally)

Well on here for months people have been screeching that any threat to the economy is fine if it 'saves lives' and any concern about the economy shot down in flames as 'this Gvt cares only for profit'
Perhaps now they'll wake up and realise (too late) that the economy is jobs and that even the cost public sector will take the hit at some point.

The government bowed down to public fear and pressure in locking down. They are now trying to actively encourage people to go to pubs and restaurants when they have had the living daylights scared out of them for months on end. Billions of pounds spent on bailouts and furlough etc, the pension age should have been brought forward to help older people, a scheme could have been set up for vulnerable and shielding people to have their jobs protected if they could not work. The NHS pretty much cancelled everything else so was going to cope.

Celtic manor resort and convention centre in Newport is cutting its 995 workforce pretty much in half with 450 jobs going. A pretty big employer in the area and a sure sign the hospitality industry has been massively damaged - who knows when or even if it can recover?

And for what? Can we not find a better way to protect the vulnerable?

Agreed @AlecTrevelyan006. What a complete and utter fuck up it all is.

We own a number of companies within the construction industry. Things were quiet from November last year with the election/Brexit stuff going on right before Christmas then January/February still very quiet which was unusual. A recession was definitely already on the cards.

Our companies started to pick up March then April was our busiest ever month in 12 years. Closed in May just as Boris was telling everyone to get back to work as we had almost no work and not worth being open. Since then we now have 80% of staff back. The 20% still on furlough will most likely be made redundant as we just don’t need them anymore. We’re still doing less work than normal and can’t see a massive boom in construction starting this year.

We remortgaged our house to buy commercial property a few years ago and taken minimum dividends since 2018 as bought land to use as a yard. Company owes us a lot of money for the mortgage but if it collapses it’s gone, we’ll lose our house. We’ve had no government help due to taking dividends in 2018, business interruption loan was approved at the beginning of May but the money hasn’t actually appeared yet. Was due to make the final payment on my car in June but have delayed 3m and will hand it back in September as just can’t justify it at the moment. Been living on savings since November, have another 6m and we’re done. If the companies collapse 120 jobs will go, all highly skilled and high value jobs.

I have only heard of one redundancy and that was voluntary almost at retirement age. I was a little bit envious actually. Both mine and dps industries have gone crazy. His department are looking to recruit staff which will double the amount they have now. I'm normally part time but working extra hours and was recently approached by a competitor begging me to work for them.

What sector is this, Zenithbear?

It would be useful to find out where is a healthy sector to seek work.

@Zenithbear sounds like DHs workplace too. (Digital marketing & software dev)

When advising my dc about career choices I ask them to consider amongst other things what people couldn't do without. They came up with electric, gas, broadband, water services, teaching/schools/childcare, health, farming and food, transport. Now known as mostly as Key workers. Me, dp, his and my dc all work in one of those industries and none of us are in danger of losing our jobs. As above far from it.