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workingpoor

Last Quarter 2015 Redundancies.

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With a now recurrent trend of Companies announcing job losses in the run up to the festive season, i thought it would be a good indicator of a potential recessionary atmosphere if this year proves to show a larger than usual number of Companies announcing job losses.

Announcements so far:

October 5th

Rolls Royce (Marine) 400

October 20th

TATA Steel 1200 Scunthorpe

October 30th

Caparo 452 (1200 uncertain, in administration)

November 10th:

Alton Towers 190

Zurich 440 Whiteley Hampshire

November 12th:

BAE Systems 371 Samlesbury & Wharton

HMRC 170 offices to merge into 13 hubs, (56000 employees-large redundancies expected)

Edited by workingpoor

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But ..

UK unemployment rate falls to seven-year low of 5.4%
  • 14 October 2015

The UK unemployment rate fell to a seven-year low of 5.4% in the three months to August, figures have shown.

It was the lowest jobless rate since the second quarter of 2008, the Office for National Statistics said.

The number of people out of work was 1.77 million between June and August, down 79,000 from the previous quarter.

The number in work rose by 140,000, bringing the employment rate to 73.6% - the highest rate since records began in 1971.

Some 22.77 million people were working full-time in the three months to August, up 291,000 compared with the same period last year.

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It's utter, utter carnage in the commodity and energy production sectors jobs wise globally. I think it takes about 18 months for these major employment swings to impact the rest of the economy if I recall? (I wonder if that period is linked to the time taken to blow your redundancy? :) ) Although as the UK doesn't actually do anything productive with primary resources anymore perhaps we won't be impacted? See how our leaders protect us from these shit storms?

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It's utter, utter carnage in the commodity and energy production sectors jobs wise globally. I think it takes about 18 months for these major employment swings to impact the rest of the economy if I recall? (I wonder if that period is linked to the time taken to blow your redundancy? :) ) Although as the UK doesn't actually do anything productive with primary resources anymore perhaps we won't be impacted? See how our leaders protect us from these shit storms?

See my post. Sort of - potash is not a primary commodity, just a sh1t replacement.

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But ..

UK unemployment rate falls to seven-year low of 5.4%
  • 14 October 2015

The UK unemployment rate fell to a seven-year low of 5.4% in the three months to August, figures have shown.

It was the lowest jobless rate since the second quarter of 2008, the Office for National Statistics said.

The number of people out of work was 1.77 million between June and August, down 79,000 from the previous quarter.

The number in work rose by 140,000, bringing the employment rate to 73.6% - the highest rate since records began in 1971.

Some 22.77 million people were working full-time in the three months to August, up 291,000 compared with the same period last year.

My nails have been so well kept, my dogs so well walked and the choice of hand-made bunting ...

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My nails have been so well kept, my dogs so well walked and the choice of hand-made bunting ...

And the cupcakes... I am getting to be the size of a house, though nowhere near as valuable.

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It's utter, utter carnage in the commodity and energy production sectors jobs wise globally. I think it takes about 18 months for these major employment swings to impact the rest of the economy if I recall? (I wonder if that period is linked to the time taken to blow your redundancy? :) ) Although as the UK doesn't actually do anything productive with primary resources anymore perhaps we won't be impacted? See how our leaders protect us from these shit storms?

Yep. We've just announced 200+contractors. That's not on the above list. Teeside saw about 6k redundancies in the last month.

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Yep. We've just announced 200+contractors. That's not on the above list. Teeside saw about 6k redundancies in the last month.

Thanks for that info - I hadn't seen those sort of numbers (I'm in a different industry).

I have to say I find the attitude of the government odd. The (one) theory on recessions is that you should put investment (support) in to keep high-cost-of-entry business open - you don't have to worry so much about low cost-of-entry because those will just start up on their own when the recovery comes (while high cost of entry will take time).

But we seem to have spent the last 10 years (and before) killing off the high-cost-of-entry businesses, while supporting the low-cost-of-entry ones.

So, we allow ourselves to kill-off steel making. Now I don't know if that is a good thing or not (sorry steel makers), but I do know that it is a one-way street - one day the worldwide steel making industry will recover but the UK isn't going to be a part of it.

But we do allow ourselves to support estate agents, nail bars, cupcake shops, dog walkers - some through industry support, others through benefits. Now, if any of these companies died during a recession then they'll just magically reappear when the recovery comes. Of course, it is okay to support them, but it is not as necessary in a strategic way.

Funny.

Edited by dgul

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But we do allow ourselves to support estate agents, nail bars, cupcake shops, dog walkers - some through industry support, others through benefits. Now, if any of these companies died during a recession then they'll just magically reappear when the recovery comes. Of course, it is okay to support them, but it is not as necessary in a strategic way.

Funny.

If you are a politician concerned only with headline employment numbers a guy employed as a dog walker counts just as much as a skilled steel worker I guess. In Thatchers day they just shuffled all the unemployed or underemployed onto disability or 'enterprise allowance'- today they just prop up a lot of non jobs via tax credits.

It will be interesting to see if the numbers of 'self employed' people nosedives as tax credits get pulled- I suspect it will.

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The term contract gives the impression of a high end business to business relationship.

But what a would call a temp in say a steel plant or car factory is actually a"Contractor ".

Companies like Mini(BMW) and Jaguar Landrover actually have a large % of their staff as contractors. It's great, when Mini wanted to get rid of a shift in the recession they just got rid of their contractors, no official redundancies, and no redundancy pay! http://www.theguardian.com/business/2009/feb/16/bmw-mini-job-cuts

Edited by reddog

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It's utter, utter carnage in the commodity and energy production sectors jobs wise globally. I think it takes about 18 months for these major employment swings to impact the rest of the economy if I recall? (I wonder if that period is linked to the time taken to blow your redundancy? :) )

Yes i would agree with the 18 months to filter through, i was 1 of 1000 laid off from BAE 18 months ago and i've just finished spending my redundancy i got.

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But we do allow ourselves to support estate agents, nail bars, cupcake shops, dog walkers - some through industry support, others through benefits

None of those are competition to the banking/financial sector and are never likely to be.

But they do offer opportunities for the banking/financial sector to leech off them.

Real industry could have been competition so that was done away with.

Edited by billybong

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TATA confirm 720 jobs to go in Rotherham after talks to save jobs fail.

http://www.financialexpress.com/article/industry/companies/tata-steel-to-lay-off-720-jobs-in-uk-as-negotiations-fail/174979/

Also Tata owned Jaguar / Landrover staff are getting jittery about their job security:

http://www.telegraph.co.uk/finance/newsbysector/industry/engineering/12031123/Jaguar-Land-Rover-workers-ask-for-job-assurances-from-Tata-amid-steel-closures.html

Edited by workingpoor

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I'm originally from Birmingham, and have friends and family still living very close to the Jaguar plant.

The local media love to portray that it is all roses at JLR, but that is not what I am hearing. Days where the track is hardly moving due to lack of demand, engineering projects offshored and now a plant in Slovakia which the British workers will have their output and costs compared against.

Not sure there will be mass layoffs at JLR yet, but like a lot of companies, they keep about 25% of their production staff as "agency", so no doubt they will be able to get rid fast at the first sign of trouble.

Edited by reddog

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I'm originally from Birmingham, and have friends and family still living very close to the Jaguar plant.

The local media love to portray that it is all roses at JLR, but that is not what I am hearing. Days where the track is hardly moving due to lack of demand, engineering projects offshored and now a plant in Slovakia which the British workers will have their output and costs compared against.

Not sure there will be mass layoffs at JLR yet, but like a lot of companies, they keep about 25% of their production staff as "agency", so no doubt they will be able to get rid fast at the first sign of trouble.

Never knew about that.

At the end of the day the car can be bolted together anywhere in the world, and it makes sense to assemble as close to your main markets as possible otherwise you ship a lot of air around the world.

I'm sure the workers in the UK do a great job, but if they need to pay x4-5 in salaries over Slovakia life is always going to be difficult. This is another way high house prices are screwing-up our economy. If HPI isn't out of control it makes it easier to control wage inflation and hence production costs.

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Never knew about that.

At the end of the day the car can be bolted together anywhere in the world, and it makes sense to assemble as close to your main markets as possible otherwise you ship a lot of air around the world.

I'm sure the workers in the UK do a great job, but if they need to pay x4-5 in salaries over Slovakia life is always going to be difficult. This is another way high house prices are screwing-up our economy. If HPI isn't out of control it makes it easier to control wage inflation and hence production costs.

Yep that Rolls-Royce figure is very low compared to the bloodbath in subcontractors, plus they're still trying to get the 1200 announced last year. The new CEOs announcement about 3000 engineers needed is true, unfortunately these will all be in the Indian outsourcing centre, the quality if these engineers is of course dire at the moment.....

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I'm sure the workers in the UK do a great job, but if they need to pay x4-5 in salaries over Slovakia life is always going to be difficult. This is another way high house prices are screwing-up our economy. If HPI isn't out of control it makes it easier to control wage inflation and hence production costs.

Yes, elephant in the room. We don't really have a low wage problem, just a high living cost problem (large part due to housing). Seems we want to protect this high cost of living at all costs which means we have to make our wages non-competitive to support it. What could go wrong?

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Yes, elephant in the room. We don't really have a low wage problem, just a high living cost problem (large part due to housing). Seems we want to protect this high cost of living at all costs which means we have to make our wages non-competitive to support it. What could go wrong?

+1 It's a massive inconsistency to argue on the one hand that labor should be competitive in it's wage expectations while on the other introducing measures like 'help to buy' that prop up house prices- either you want expensive houses or you want competitive wages- you can't have both.

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Shock as more than 100 jobs lost after Industrial Acoustics Company Limited folds

IAC, which was a major supplier of noise control products, will retain 10 employees to close down of the site on Moorside Road, Winnall, Winchester, but their futures are also uncertain.

----

Hit hard by the decline in oil and gas prices, exploration companies have cut back on their spending for drilling and production, meaning less work for IAC.

Two IAC workers, who didn’t want to be named, said they are already looking for new jobs. One said: “We were told a few weeks ago and it was a bit of a shock as Christmas is so close.

18th Dec 2015

http://www.dailyecho.co.uk/news/14150098.100_workers_face_the_axe____just_two_days_before_Christmas/?ref=ar

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