Redundancy – Inevitable?
George Osborne’s Autumn Statement felt more like a Winter Statement, apart from the revamp of stamp duty. It seems the same gloom is still around as it was the day before he spoke. But even in winter when the darkest clouds are looming, we know that beyond these clouds the sun still shines.
The statement again revealed that borrowing would be higher than forecast, so it seems that “Austerity” will be continuing for a quite a long time to come, no matter which party or parties form the next government.
In the public sector, forecasters are predicting that spending will fall to levels not seen since the 1930s, suggesting the loss of one million public sector jobs by 2020. http://www.bbc.co.uk/news/uk-politics-30323690
Even though the economy seems to be on the way up in the UK, on 6th November the Bank of England’s chief economist Andy Haldane revealed concerns about the long-term nature of the UK economic recovery. Then again on 24th November he said that, “Many of the world’s major economies face a prolonged period of slow growth”.
In August the CIPD’s Labour Market Outlook reported that 18% of private sector employers were still anticipating that they would have to make further redundancies. That’s obviously good news for the other 82% and their employees, but which companies are part of the 18% group and which in the 82% group?
Add to this the report in The Telegraph 20th February 2013. It showed that by then one in seven workers (3.5m employees) had been made redundant since the start of the recession. http://www.telegraph.co.uk/finance/jobs/9881215/One-in-seven-workers-made-redundant-since-recession.html
Another report I read recently suggested that the average person will be made redundant 2.8 times in their lifetime – which really means three times for most people and twice for the rest. Not a very cheery thought just before Christmas, so I thought I’d give out a bit of Christmas cheer, by posting a series of 5 short articles under the title “How To Bounce Back From Redundancy”. They will appear at around 12:00 noon every day next week.
Your position may not be under threat of redundancy at the moment but it can strike rather indiscriminately, so why not save the posts just in case you need them in the future to give yourself a head start at “bouncing back”. And why not share the posts with your connections?