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Brexit

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Original poster

First Brexit employment casualties

616 replies

Stopyourhavering · 25/06/2016 15:02

dd graduated this week, happy times.....phoned this morning to say that 2 of her friends, who had also graduated ( business/law degrees) and been offered jobs had been telephoned by their prospective employers to say that because of Brxit, they were now basing their headquarters in Berlin rather than UK and would no longer be employing them......I fear this is just the start....I am so angry and upset for our youth. My ds and dd2 are so angry and feel betrayed....I wish 16 &17 year olds had been given a vote as I feel they had a better handle on the repercussions of Brexit

OP posts:
larrygrylls · 27/06/2016 12:17

Cote,

Have you read about who the sub prime borrowers were? Of course caveat emptor etc but financial products are not washing machines. If respected advisors tell you you cannot afford your repayments but your house will go up in value and, in a couple of years, you can sell it and take thousands out, you tend to believe them. Especially when they work for banks and you have a limited education.

Guess you believe that you should be able to sell anything at any price if you can find a fool to buy it?

TheElementsSong · 27/06/2016 12:24

You mean like voting Leave?

MNHQ
KatherineMumsnet · 27/06/2016 16:25

Hi all,

After a great many requests, we're moving the bulk of the referendum threads to the new board here.

www.mumsnet.com/Talk/eu_referendum_2016_

Many of you, understandably, want to discuss this subject at length and in detail - this seems a good way to simultaneously keep AIBU and Chat moving for those who don't wish to participate. Of course, the conversations will still appear in Active.

mathanxiety · 27/06/2016 16:34

To put this into perspective, WannaBe, the outcome of the US election is going to look far better to the markets than this vote, no matter who wins.

Depending on a train crash elsewhere to have a positive impact on you is grasping at straws.

(Note that gilts are now taking a hit, Larry).

ManonLescaut · 27/06/2016 16:35

Below 1% for the first time ever.

OutwardBound2016 · 27/06/2016 16:47

Most large instructions have been planning for Brexit for months, these aren't hasty plans. My patents who voted leave are now surprised to learn that my brother is worried about his job (non essential construction related) no shit sherlock!

OutwardBound2016 · 27/06/2016 16:52

*institutions

Figmentofmyimagination · 27/06/2016 16:56

Neveradullmoment

"In a word, agree with the comments about no way can that happen this fast.

I believe it is just Propaganda"

Please tell me you don't really believe this?!

There were some redundancies carried out last Friday morning - if you are prepared to swallow the notice pay and the protective award and pay something for unfair dismissal compensation, you can get someone through the door in this country in five seconds flat, especially if there is a ready made reason to hand such as Brexit.

There is reason why the OECD ranks the UK as one of the cheapest and easiest place to fire people in the developed world - certainly way cheaper than our EU partners - and now, with Brexit, it will get easier still - way to go - that's some competitive advantage!

Cosmiccreepers203 · 27/06/2016 17:12

I've heard from another friend who works for an airline. They've been told that the jobs of those most recently employed are at risk. I guess the aviation industry are looking to make savings just in case the pound doesn't recover any time soon and fuel becomes expensive. Surely this will have a knock on effect on airfares- just in time for Summer!

Mistigri · 27/06/2016 17:19

Airline shares have been badly hit. Air travel is one of the first luxuries to go if you're feeling the pinch. I think there will be job losses quite quickly at the low-cost airlines, though because of their business model it probably won't take the form of redundancies.

OutwardBound2016 · 27/06/2016 17:23

Cosmic - heard the same from a pilot friend.

larrygrylls · 27/06/2016 17:24

Math and Manon,

Bond Yields are inversely related to price (lower yields mean higher prices and vice versa). So, gilts falling below 1% implies prices at highest ever level.

Sorry to rain on your parade.

jammyraspberry · 27/06/2016 17:25

Anybody who thinks this is just propaganda needs to remove their head from the sand. It is that attitude that for us in this mess. England is no longer a self sufficient little green island full of milkmaids in bonnets slowly walking out to the fields and curtsying to the Lord of the manor

Peregrina · 27/06/2016 17:30

When we were a 'self sufficient green island' we were in fact a country dependent on the labour and resources of a huge empire.
But for those who want to think so, yes, it's a nice fantasy.

ManonLescaut · 27/06/2016 17:49

larry

When gilts are bid up their yield falls.

It indicates investors have taken shelter in safe haven assets. Which in turn may imply they believe the BoE will be forced to cut or keep interest rates low due to Brexit economic fallout.

larrygrylls · 27/06/2016 17:55

Manon,

Correct, but you said less than 1% in reply to Math's post where she said 'gilt's taking a hit now'.

There is little room further to cut without QE. The good thing is, though, that at least no one is worried about our ability to repay our debt.

CoteDAzur · 27/06/2016 18:05

"There is little room further to cut without QE. The good thing is, though, that at least no one is worried about our ability to repay our debt."

Quantitative easing is a good thing now, is it? Keep holding on to that thought while inflation throttles the consumer just as unemployment and output falls.

Have you ever heard of a phenomenon called Stagflation? It's very very bad.

Figmentofmyimagination · 27/06/2016 18:18

Because of our 'flexible' employment market, a lot of the early casualties won't show up as redundancies - they will be agency workers or freelancers, who are 'let go'. Or they will be small businesses eg self employed decorators and plasterers whose customers decide that maybe they don't really need that kitchen etc quite yet after all.

ManonLescaut · 27/06/2016 18:19

She meant gilt yields larry.

larrygrylls · 27/06/2016 18:28

Manon,

'Taking a hit' only has one meaning..being sold. It is not an ambiguous expression.

larrygrylls · 27/06/2016 18:29

Cote,

We need inflation before we have stagflation! Stagflation is a big word when the BOE are below their inflation target.

larrygrylls · 27/06/2016 18:30

Cote,

I am assuming by your name that you do not live in the UK. Why this schadenfreude?

ManonLescaut · 27/06/2016 18:38

'Take a hit' means to be dealt a blow, to suffer a loss/damage, to be criticised.

It also means to take drugs.

larrygrylls · 27/06/2016 18:41

Manon,

Context is all. If I am on a dealing floor and someone shouts 'gilts taking a hit', it means they are being sold.

Yes, of course the gilts might have been being criticised or, indeed, taking drugs....

MysteriesOfTheOrganism · 27/06/2016 18:44

Don't worry. After a short time of discomfort everything will be fine. Hampers of luxury foods will grow on the trees, it will rain champagne (sorry, I mean English champagne-style sparkling wine), there will be no NHS queues, foreigners abroad will happily vacate their sunbeds for us, and people everywhere around the world will tug their forelocks as we pass.

As the bard would no doubt write now: Cry God for BoJo, England, and Saint Nigel!