Feeling the financial squeeze

Jamie · 11th December 2008, 16:58

Had some sobering news from my employers yesterday....we were all called into the office and told that a financial rescue package had been put together to keep our company afloat well into the new year.

This was meant to sound like good news....but we werent even aware that they were in trouble!

...and to add a sobering finish they proudly announced our jobs were 'safe' until April at least.

Very worrying times.

JohnDotCom · 11th December 2008, 17:00

Sorry to hear that possible bad news Jamie.
Many people in the same boat at the moment.

But our PM did say he has saved the World so all is well.

Jamie · 11th December 2008, 17:14

I guess lots of folks have the same worries...the thing is now...we dont want to spend anything over christmas...and the wifes new family car is on hold too.

so inadvertantly, the wife and I have added our little burden to the current financial crisis...we are not going to spend on any extras at all now.

So...Id just like to say a big thank you to all of the greedy share dealers, speculators and government officials that have brought us to this wonderful cheery moment in history...jolly well done.

Now, where is my Harry Potter book of Spells & Curses....

tourerfogey · 11th December 2008, 17:35

Quote:

Originally Posted by Jamie

I guess lots of folks have the same worries...the thing is now...we dont want to spend anything over christmas...and the wifes new family car is on hold too.

so inadvertantly, the wife and I have added our little burden to the current financial crisis...we are not going to spend on any extras at all now.

So...Id just like to say a big thank you to all of the greedy share dealers, speculators and government officials that have brought us to this wonderful cheery moment in history...jolly well done.

Now, where is my Harry Potter book of Spells & Curses....

This week I've had two long standing customers cancel.

FROGGY · 11th December 2008, 18:57

Can't even escape things living over here on my pension.
I now receive 20% less than I did 3 years ago because of exchange rates.

The only consolation is that I can't be made redundant (at least I don't think so), although GB (Gordon, not the other), may think different.

Mick

JohnDotCom · 11th December 2008, 19:01

Customer (domestic) Exchange rate including commission charges today mean you get less than 1 euro to the Pound
Dollar is $1.42 to the £ so Holidays and foreign trips are going to go very expensive.

sworks · 11th December 2008, 23:01

Hope everything works out ok for you Jamie

GERFIX · 12th December 2008, 05:59

Hope all goes well during this rough time Jamie. On not quite so dreadful a note, we were informed yesterday that as of 01-01-09 there is an overtime ban (instead we will be given time-in-lieu), there will be no wage increase next year and all in-house training (a fair way to increase our earnings) is cancelled for 18 months. Just when I was starting to get to grips with the next level of my development too

.

Ken · 12th December 2008, 07:13

Quote:

Originally Posted by GERFIX

Hope all goes well during this rough time Jamie. On not quite so dreadful a note, we were informed yesterday that as of 01-01-09 there is an overtime ban (instead we will be given time-in-lieu), there will be no wage increase next year and all in-house training (a fair way to increase our earnings) is cancelled for 18 months. Just when I was starting to get to grips with the next level of my development too

.

An interesting point about time off in lieu is if you are hourly paid as opposed to salaried. My career was with the government and I was salaried but the grades below mine were hourly paid and given time off in lieu of overtime. After a while some bright spark came up with the idea that time off in lieu entitled hourly paid staff to more annual leave because they were doing more hours regardless of the time off. That was 10 years ago and things may have changed but it was all to so with some european employment law.

It made me worse off than those who were hourly paid as far as annual leave was concerned.

JohnDotCom · 12th December 2008, 07:33

Well with the failure of the US Motoring Bail out anyone working for Vauxhall or most motoring Companies must be panicking.
Unions wouldn't accept a pay cut so no go.
Where have we heard that before?
Sales in Cars to Private buyers down over 50% to Fleets down over 35%.
Stocks stored now running at over 12 months supply.
Crazy!

11th December 2008, 16:58	#1
Jamie Posted a thing or two In Limbo Join Date: Nov 2006 Location: Cheshire Posts: 1,685 Thanks: 4 Thanked 12 Times in 6 Posts	Feeling the financial squeeze Had some sobering news from my employers yesterday....we were all called into the office and told that a financial rescue package had been put together to keep our company afloat well into the new year. This was meant to sound like good news....but we werent even aware that they were in trouble! ...and to add a sobering finish they proudly announced our jobs were 'safe' until April at least. Very worrying times. __________________ Finally given up trying to buy the last new rover V8 from Bristol, 2 years of haggling got me nowhere!

11th December 2008, 17:14	#3
Jamie Posted a thing or two In Limbo Join Date: Nov 2006 Location: Cheshire Posts: 1,685 Thanks: 4 Thanked 12 Times in 6 Posts	I guess lots of folks have the same worries...the thing is now...we dont want to spend anything over christmas...and the wifes new family car is on hold too. so inadvertantly, the wife and I have added our little burden to the current financial crisis...we are not going to spend on any extras at all now. So...Id just like to say a big thank you to all of the greedy share dealers, speculators and government officials that have brought us to this wonderful cheery moment in history...jolly well done. Now, where is my Harry Potter book of Spells & Curses.... __________________ Finally given up trying to buy the last new rover V8 from Bristol, 2 years of haggling got me nowhere!

11th December 2008, 18:57	#5
FROGGY I really should get out more....... MG ZT CDTI Join Date: Sep 2007 Location: 17500 REAUX, CHARENTE-MARITIME Posts: 2,749 Thanks: 2 Thanked 133 Times in 90 Posts	Can't even escape things living over here on my pension. I now receive 20% less than I did 3 years ago because of exchange rates. The only consolation is that I can't be made redundant (at least I don't think so), although GB (Gordon, not the other), may think different. Mick __________________ http://i200.photobucket.com/albums/a...ps628d4119.jpg IN THE BLACK NOW

12th December 2008, 05:59	#8
GERFIX I really should get out more....... MINI COOPER S Join Date: Nov 2007 Location: Tranent, East Lothian, SCOTLAND Posts: 2,834 Thanks: 0 Thanked 0 Times in 0 Posts	Hope all goes well during this rough time Jamie. On not quite so dreadful a note, we were informed yesterday that as of 01-01-09 there is an overtime ban (instead we will be given time-in-lieu), there will be no wage increase next year and all in-house training (a fair way to increase our earnings) is cancelled for 18 months. Just when I was starting to get to grips with the next level of my development too. __________________ .......................................Colin http://i245.photobucket.com/albums/g...Cooper-S-2.jpg

11th December 2008, 17:00	#2
JohnDotCom * Rover 75 FaceLift Tourer CDTi 170BHP Auto ConnSE 2005 Model Starlight Silver Join Date: Nov 2006 Location: Abergele Posts: 28,735 Thanks: 0 Thanked 6 Times in 5 Posts	Sorry to hear that possible bad news Jamie. Many people in the same boat at the moment. But our PM did say he has saved the World so all is well.

11th December 2008, 19:01	#6
JohnDotCom * Rover 75 FaceLift Tourer CDTi 170BHP Auto ConnSE 2005 Model Starlight Silver Join Date: Nov 2006 Location: Abergele Posts: 28,735 Thanks: 0 Thanked 6 Times in 5 Posts	Customer (domestic) Exchange rate including commission charges today mean you get less than 1 euro to the Pound Dollar is $1.42 to the £ so Holidays and foreign trips are going to go very expensive.

11th December 2008, 23:01	#7
sworks Been absent for a while… Rover 75 Tourer, Classic mini Cooper S, Abarth 595 competizione, MG TF and a Hyundai Tucson PHEV Join Date: Feb 2007 Location: Cumbria Posts: 13,070 Thanks: 1,033 Thanked 1,686 Times in 1,040 Posts	Hope everything works out ok for you Jamie

12th December 2008, 07:33	#10
JohnDotCom * Rover 75 FaceLift Tourer CDTi 170BHP Auto ConnSE 2005 Model Starlight Silver Join Date: Nov 2006 Location: Abergele Posts: 28,735 Thanks: 0 Thanked 6 Times in 5 Posts	Well with the failure of the US Motoring Bail out anyone working for Vauxhall or most motoring Companies must be panicking. Unions wouldn't accept a pay cut so no go. Where have we heard that before? Sales in Cars to Private buyers down over 50% to Fleets down over 35%. Stocks stored now running at over 12 months supply. Crazy!