First Brexit employment casualties

[Stopyourhavering]

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

I think you have a point Limer.

The OP gives certain clues... you could make an educated guess without her having to do so. And does it really matter?

Shocking level of naivety on this thread.

There will be many, many job losses.

There will be many firms relocating to EU companies. Contingency arrangements are already in place and will just need to be invoked.

Consultation will happen, as firms go through the motions. But the jobs will go nonetheless.

Many billions of revenue will be lost.

Support services will be hit hard.

There will be a recession.

The poorest will - yet again - bear the brunt.

There will be little to replace the lost revenue from financial services, as we don't actually make or do much else in this country.

Investment in public services will be cut yet again.

Most items will be significantly more expensive due to the weak pound and less favourable trading terms.

So no, there is no over-reaction. People are right to be scared. This is real.

"You are really asking the OP to name the firm that two of her child's friends had been offered jobs with?

I certainly would not give that kind of identifying information on the Internet."

How is that possibly identifying??? Friend of a child who doesn't even work there.

Ridiculous nonsense, just like the OP's post.

sigh I suppose disbelieve from ardent leavers is to be expected as they are so used to being sold the line that anything that isn't in line with their version of things is a lie.

I don't know the name of the company. It's a post I saw on Facebook from the mum of a child who used to go to the same dance classes as my daughter.

And I wouldn't post it anyway.

Of course companies will altesyd be able to start moving. Any decent company worth its salt will have had brexit plan in place since the referendum was announced.

God, so much naivete and denial on this thread. It is definitely happening. I know of three families who are relocating to Frankfurt as of Friday. I know because their children are at school with a family member, so add independent schools to the long, long list of trickle-down sectors that will be affected as the City relocates wholesale.

I sense a whiff of schadenfreude as people enjoy white collar work sectors finally experiencing the redundancies and relocations that have previously affected blue collar jobs. Fair enough, but the reality is that everyone will eventually be caught up in this vortex, so enjoy the gloating while it lasts.

Neither my daughter nor I am making any of this up.....I just hope that those of you who think I've 'made this up' are not faced with redundancy or decline in services because of this referendum.....

We're facing a move to Frankfurt due to Brexit. 3 children, been in London 18 months and had just got them all settled and started back at work myself after managing the move. Complete upheaval for us, especially as eldest about to start GCSEs. And not everyone who works in banking is a banker on a huge bonus - we just make our rent and can't afford to buy in London as we moved down from Scotland and the price difference is massive. Thankfully we've both worked in Germany before so kind of know the system. But still, would prefer it if the move was our choice. Very worried about the impact on my eldest's education in particular. Our other 2 hopefully young enough to adapt better :-/

Any company, big or small, will be biding its time to see what the eventual fall-out of this is. They will not be "pushing the Go button". They will be waiting to find out when will the UK actually leave? What will the effect on the rest of the EU be - how bad? What about the relative strengths of the pound/euro/other world currencies? Changes to employment/business legislation they need to consider? Etc, etc.

Flumpty I've already mentioned UK job losses at Twinnings that was helped along with an EU grant, it's been happening for years. Brexit will be used by unscrupulous companies like the recession was to cut jobs.

a company with 400 losses solely due to Brexit will be newsfodder so we'll hear the details soon, id be interested from a professional view to follow how it develops and is handled

I find it fascinating that people who believed all the crap spouted by the Leave campaign (which has already been revealed to be utter shite) are sceptical of job losses as a result of their voting habits. If only this questioning spirit had prevailed before 23rd June....

"I hope you're not expecting sympathy if bankers bonuses are lower this year. That seems good reason for a party Imo."

That is one of the stupidest comments I have seen on here, and that is against some competition.

Bank makes huge profits and shares some of it with its employers. Those payments are called 'bonuses'. What business is that of yours and do you benefit at all if banks keep all their profits for their shareholders and give none to their employees through bonuses?

Some leavers are excited about the prospect of job losses especially in the City. They believe we are in the midst of a proletarian revolt right now.

Bemused that I've offended someone because I've stated the costs of building a garden shed(ok, a workshop) in London. Might annoy you even more that it was a friendly, hard working, Polish person that we were going to give the project to. Advertised and not one English person responded.
I do feel sorry for the disadvantaged people in the midlands who will not get what they wanted from this referendum. They have been lied to And their irrational fear of immigration (ffs I'm an immigrant) has been manipulated by Farage, Gove and Johnson.
Anyway this thread is about Brexit lay-offs and you can rest assured, we are about to see a tidal wave of jobs exit the UK. Looking forward to hearing from the likes of Mr JCB and Mr Dyson how they are planning to create jobs and wealth, now they have got the result they wanted. Actually I say that but I don't expect to be here for very much longer.

Any company, big or small, will be biding its time to see what the eventual fall-out of this is. They will not be "pushing the Go button". They will be waiting to find out when will the UK actually leave? What will the effect on the rest of the EU be - how bad? What about the relative strengths of the pound/euro/other world currencies? Changes to employment/business legislation they need to consider? Etc, etc.

With the greatest of respect, that's mostly rubbish.

It comes back to what Donatella said earlier in the thread. Big companies hate, above all things, uncertain and insecure economic climates. A brexited UK fulfils that criteria. The UK can no longer guarantee them the secure conditions, deals, laws, etc that they need to make money.

Why wait? There's no advantage to them. It's surprisingly easy to shift 1000s of jobs to Frankfurt.

Now of course not all companies will move. But you are utterly naive to think they'll be waiting to see what the fall out is. The next couple of years are going to be a roller coaster - that's the fall out. Why would they want that when Frankfurt are waiting with a nice big welcome hug, well trained work force, German efficiency, etc, etc.

I don't know the name of the company. It's a post I saw on Facebook from the mum of a child who used to go to the same dance classes as my daughter.

My brother's best friend's cousin who works in the pub overheard a man saying his wife's friend's brother said the sky was falling.
It's definitely true.

Why are so many people doubting this? Absolute loads of business leaders made public statements about the risks of a leave vote. The companies I freelance for (creative/tech) all recommended a remain vote and said they'd start an immediate hiring freeze if we left.

thatwould I don't doubt you, or that Twinings would be the only one. I'm sure that there have been others, and EU money should not have been used for that purpose. Or that there will be some unscrupulous employers who will use it as an excuse. And I regret every single job loss as a result.

My point, though, is the scale of the job losses - and loss of revenue- in the financial sector, in particular, but also from other multinationals, which will quite simply DWARF the likes of Twinings and their ilk. This will have a MASSIVE effect on the economy as a whole, for decades. We will, as a nation, have a much less bright future than we could have had.

Remember the last recession we had, which was primarily caused by bankers, but which impacted most heavily on the poor, low-waged and disabled? That will happen again.

I say this as somebody with no love of bankers, and every regret for job losses in the deprived former industrial region.

Leave voters have been the turkeys voting for Christmas.

One more time... nobody is doubting it... just the stated time frame/procedure for dismissals.

Are you saying that I am lying TanTan

I am a longstanding poster I have absolutely nothing to gain by lying o here.

It isn't a friend of a friend's brother who I have never met. I have met this lady I just don't know the nsme of the workplaces of everyone I know.

not offended me at all, infact the juxtaposition of Brexits being out of touch and that post made me chuckle actually.

Sound like a piss poor company that couldn't organise a piss up.