Offered temporary contract instead of permanent role

[noge]

Have been slightly shocked in work recently. I had been working on a 24 month fixed term contract with a view to getting a permanent position. I had great reviews and get on well with the team. My direct managers have very very good things to say about me. They promised I would be getting a permanent position and so I haven’t looked elsewhere as I was happy.

Due to changes in the global economy over the last month or so, the company hasn’t been doing so well as it was. I have been offered a 6 month contract instead of a permanent role, apparently with the hope to make it permanent if the economy improves or if someone leaves.

Would you accept and look elsewhere?

I'd do both. Accept the position so you know you have a 6 month buffer to see what else is out there and if you secure another job you hand your notice in..

Agree with what PP says. I would accept the offer to buy time and look elsewhere for a permanent role.

Have you been working there over 24 months and been offered a further 6? If so then you have the same effective rights as a permanent member of staff.
We do FTC as it's easier to get through approvals than perm but we treat them all the same