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roblpm

Edinburgh Job Losses Thread

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Small beer but I can start you off.

My company's ofice in Edinburgh, 3 folk, plus me moving up. Now being closed. Me staying in London, 2 others moving - (so filling other vacancies os still jobs lost), one poor chap out of a job.

Net effect 4 fewer jobs in Edinburgh, but only one person actually out of a job.

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er euan.....................

I don't know if you noticed that this is a website about house prices crashing.

And House Prices bear some relation to employment levels?

Muppet??!?!

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yeh muppet

cos you are rejoicing in it

its an element of house price reduction's but you are communicating it as some joyous ceremony.

I want houses to come down which can be handled by Bank's returning to normal lending levels but no need to rejoice in sone one's armageddon

I hope you are insulated as much as you think you are

No infrasture that relate's to your job that will be affected by other folk's job loss ?

I'm not troubled - plenty of qualfications/experience in my role that peer group dont have - could get 20% pay rise if i wanted to skip company

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I don't quite agree with taking the name of Jim Henson in vain, but I can see Euan's point.

While it's tough to feel sympathy for groups that are as shamelessly self serving as the property and financial services, It would be morally derelict to derive any ghoulish pleasure from their impending demise.

Because you just know that the bigwigs who get their "expert opinion" property articles in the Hootsman, and the fatcats who took us to the edge of financial oblivion, will come out smelling of roses. It's the ordinary joes, like you and I, who will bear the brunt.

Real job losses are coming. It'll be painful. But it's also sadly inevitable and, in the wider scheme, necessary for a return to a more stable local economy.

While we can't stop it happening, I think it's important to remember it's not an abstraction, but real people going through a tough time.

And I think the HPC community does on the whole. By starting this topic, I don't think anyone is looking to drink in the misfortune of another. Its just that a constriction of the local economy, particularly the financial sector, and the job losses that follow, are a very important step on the road out of the credit driven la-la land within which we've all been living.

Documenting it's arrival is merely a reflection of this fact.

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yeh muppet

cos you are rejoicing in it

its an element of house price reduction's but you are communicating it as some joyous ceremony.

I want houses to come down which can be handled by Bank's returning to normal lending levels but no need to rejoice in sone one's armageddon

I hope you are insulated as much as you think you are

No infrasture that relate's to your job that will be affected by other folk's job loss ?

I'm not troubled - plenty of qualfications/experience in my role that peer group dont have - could get 20% pay rise if i wanted to skip company

For someone that is so easily offended by the OP's reasonable question you are awfully arrogant.. :rolleyes:

Your job is at risk just like anybody else's. Plan for bad times ahead. Then anything better will be a bonus. Expecting to have stable job for the next few years is extreme naivety IMO.

Anyway - as for RBS jobs they are already happening. Big ones will start in April/May IMO.

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I agree -

Insensitive way to start the thread.

However, level of employment or unemployment forms part of the picture when predicting house prices -

making it of equal interest to property bulls and bears alike.

So let's get logging the job losses - but with due sensitivity (unless they had it coming! ;) )

I suppose, for balance, any gains need logging too - In theory.

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I certainly never took any offence - employment levels are a massive indicator of things to come and although bad, I want to hear about what's going on - OP, don't worry about it.

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For someone that is so easily offended by the OP's reasonable question you are awfully arrogant.. :rolleyes:

Your job is at risk just like anybody else's. Plan for bad times ahead. Then anything better will be a bonus. Expecting to have stable job for the next few years is extreme naivety IMO.

Anyway - as for RBS jobs they are already happening. Big ones will start in April/May IMO.

yes & no - probably (got told this in libya a few months ago - answer - tough luck)

I left branch banking 8 years ago cos was too sales orientated and went back to University and skipped industryl.

& the I did a further set of professional qualifications that a lot of peer group can't be "bothered" to complete.

so yes i do have a bit more ammunition on my CV than peer group becuse I have a further set of professional qualifications from Bank time (not sales but Chartered Institute of Banker in Scotland) - funny thing is I havent met anyone recently who have completed these - lot of people who are now in senior roles regionally again within the bank couldn't be "bothered"

There's a lot of jobs in my role only available if you are qualified.

Lot of job profiles being thrown at me just now with the aforementioned 20%.

(to be honest I probably never read the RBS, HBOS bit and thought the comment in general was about folk losing jobs) enst j

Edited by euan2020

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yes & no - probably (got told this in libya a few months ago - answer - tough luck)

I left branch banking 8 years ago cos was too sales orientated and went back to University and skipped industryl.

& the I did a further set of professional qualifications that a lot of peer group can't be "bothered" to complete.

so yes i do have a bit more ammunition on my CV than peer group becuse I have a further set of professional qualifications from Bank time (not sales but Chartered Institute of Banker in Scotland) - funny thing is I havent met anyone recently who have completed these - lot of people who are now in senior roles regionally again within the bank couldn't be "bothered"

There's a lot of jobs in my role only available if you are qualified.

Lot of job profiles being thrown at me just now with the aforementioned 20%.

(to be honest I probably never read the RBS, HBOS bit and thought the comment in general was about folk losing jobs) enst j

You don't work in banking (Or Banking related) now do you.... :o

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Funny think is I don't remember everyone having kitten fits when house prices were sky rocketing.

Anyone remember the phrases "you've missed the boat". Or "Rent forever losers".

Did anyone feel for the disenfranchised, unable to gain a foot hold on the housing ladder?

Yes, unemployment will be bad for individuals. And its going to be worse for those who maxed out their credit cards, maxed out their mortgage, relied on double incomes and blindly lept into a corrupted market.

No one put guns to their heads. They did, for better or worse, contribute to their own downfall.

But as a collective society we will all reap what was sown.

There will be pain and theres plenty of blame to go around. Unfortunately I didn't contribute to the blind hysteria which drove the bubble and caused near total economic collapse. But I'm sure as **** going to feel the pain along with everyone else.

So I'm not going to apologise for feeling a bit of schadenfreude and the troubles we are witnessing.

Given that other peoples **** ups are impacting me personally, I've earned the right.

Edited by geneer

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You don't work in banking (Or Banking related) now do you.... :o

nah - nothing to do with banking - bank was crap pay, £13K in 98 and that was me 4th in seniority of 42 clerical staff.

Oil Services now cos i'm from aberdeen

but in role that allows me to work overseas if necessary and skip industries.

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Whatever!! its at least generated some posts in here!!

I'd like to point out I graduated in 1991, there were no jobs, I drove a cheese delivery van and variously signed on for a couple of years. No one I graduated with (from a decent redbrick university) got a job straight away, most volunteered, lived with parents etc etc.

My father was made redundant at 55 from big engineering company, never got another job, he's 78 now.

I also think people have been suckered by all of the economic growth. High house prices have a lot to answer for. It really is not necessary to have a £200k mortgage, an iphone, a Range Rover, 2 buy to lets and a house in spain by the time you are 30. So I cant help thinking that a bit of deflation or whatever you want to call it would be a good thing, make people examine what is important and not get in so much (or any) debt in the first place.

I also dont see how anyone can ever be happy taking out a large mortgage when they work for a company where the decisions on jobs are taken in a boardroom far away. This has happened before and will happen again. I used to work in the City for a European company and was involved with making a whole load of people in Germany redundant, and we were American owned!! Thats globalisation!

So I apologise if the OP seemed to be revelling in it but what I am intersted in is unemployment statistics, and in this case local unemployment statistics.

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nah - nothing to do with banking - bank was crap pay, £13K in 98 and that was me 4th in seniority of 42 clerical staff.

Oil Services now cos i'm from aberdeen

but in role that allows me to work overseas if necessary and skip industries.

:o

Em sorry to tell you this but that industry is not doing too great at the moment............

has nobody told you !!

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:o

Em sorry to tell you this but that industry is not doing too great at the moment............

has nobody told you !!

eh - I dont work for uk operations !!!! Did you not take the hint about Libya and working internationally.

one of the roles passed by me was for Norway for 18 month secondment.

Come April i will be back asking about Russia option

so - suck it up

+ the role i do there is plenty jobs in aberdeen - we only get cv's over desks from migrants with work visa's so local staff when they start applying will get jobs 1st due to experience/culture/better qualified

Edited by euan2020

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While it's tough to feel sympathy for groups that are as shamelessly self serving as the property and financial services, It would be morally derelict to derive any ghoulish pleasure from their impending demise.

There's a ripple effect; if property & financials go down, so do others in sectors associated with them; printers, office supplies, signs, newspapers losing advert revenue etc - do you feel sympathy for these groups?

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No jobs lost, but we did have HBOS bank staff hit by bonus freeze from the Scotsman a couple of days ago.

UP TO 10,000 staff in Bank of Scotland's corporate banking division are to miss out on tens of millions of pounds in performance-related pay-outs as the company is to cut bonuses for the first time in its history, it has emerged.

...

Halifax Bank of Scotland (HBOS) employees usually receive their bonuses in April, and many use them to pay off mortgages or fund private school fees.

Lots of readers' comments, including a number of HBOS employees pointing out that their basic wages are really poor and they're going to be shnookered without a bonus.

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they probably are quite basic

when i left RBS absolutely none of my mates were getting paid less than me

joiners, mechanics, plumbers, printers, electrical shop sales.

& that was me being qualified and nobody younger than me being senior to me

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Guest An Bearin Bui

I agree it's unpleasant to revel in job losses but let's face it, there are a lot of people currently working in banks or as estate agents and mortgage brokers who really should never have had a job. I just hope that things return to stability sometime and banking comes back built on investing in solid businesses and real economic expansion, not pipe dreams.

Anyway, inside track from my walk of life is that universities are cutting back too. From contacts, Edinburgh University is cutting back and any new job now has to be approved by a review board before being filled, even if it's just replacing someone who has left. Voluntary redundancy is also being encouraged - the college administrator I spoke to said that they were strapped for cash this year due to a recent pay award and falling revenue and are hoping they'll be able to shed some of the academic dinosaurs from the 70s through early retirement as a way to save money. So that's one major source of jobs in Edinburgh on hold - and if the richest university in Scotland and one of the richest in the UK is doing this, I can only imagine how bad it is at other institutions...

Also heard that Scottish Enterprise are strapped for cash and had a round of voluntary redundancies last year so it seems the public sector gravy train might be at least ground to a halt if not gone forever and considering that this is a gravy train that is as intimately linked to Edinburgh house prices as the financial sector, it's quite important news.

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what people should be worried about is is they get layed off they migh not get any enhance terms and will just get the legal minumu wich is

1 weeks pay for every years service limited to a maximum of £330 a week

so for 5 years service you could be gone for £1500

no very much

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Whatever!! its at least generated some posts in here!!

The tone is in very poor taste.

It does seem there are a lot of people in the Scotland section very frustrated at how slowly the crash is moving up here.

At the end of the day, lower prices are inextricably linked with recession/unemployment/etc, and the associated misery that comes along with it is not something a decent person should be cheering on.

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Hamish,

So alternatively you would cheer on 15% rises in property prices per year ensuring people enslave themselves with debt or not find themselves able to afford a house at all. I would suggest that is "not something a decent person should be cheering on".

I've been posting on here for years and between a few of us have made the scottish subforum an informative place to be. You turn up a couple of months ago and start slagging us off. Nice.

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Hamish,

So alternatively you would cheer on 15% rises in property prices per year ensuring people enslave themselves with debt or not find themselves able to afford a house at all.

Well yeah. But to be fair to Hamish, thats because he bought a new house near peak, and can't sell the old gaff until his in law departs.

Oh, and as to the "revelling in misery" chestnut, yet again Hamish is nearly a year behind the curve though.

The bulls were trying to play the old moral high ground card the minute the realised the jig was up.

moralhighgroundwc7.jpg

A large majority of the population blithely assisted the circumstances of the current financial woes.

Unfortunately they've taken everyone down with them.

You can't make an omlette without breaking some eggs. A painfull correction is neccesary.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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