hotblack42 Posted October 21, 2023 Share Posted October 21, 2023 16 hours ago, winkie said: Talking to someone, their firm offered redundancy, some got good terms according to how long they worked there.......later they announced to some of those those who didn't volunteer when closed the department down restructuring, statutory redundancy only, no money left..... one person, and am sure there were others had worked there for over 30 years. It is critical to determine, to know for sure, whether your employer is seeking more profits, aka greedy, or actually in serious trouble. If the latter, get out with a handout ASAP. Knowing means talking off the record to senior management if you have access, analysing company accounts, maybe even talking to their suppliers posing as a member of accounts. Whatever it takes. If they're just greedy you'll get your wedge or end staying at a richer firm. Some lucky sods get the latter with bonuses & payrises, then the former a few years later. It's an ill wind etc. Quote Link to comment Share on other sites More sharing options...
winkie Posted October 21, 2023 Share Posted October 21, 2023 3 hours ago, hotblack42 said: It is critical to determine, to know for sure, whether your employer is seeking more profits, aka greedy, or actually in serious trouble. If the latter, get out with a handout ASAP. Knowing means talking off the record to senior management if you have access, analysing company accounts, maybe even talking to their suppliers posing as a member of accounts. Whatever it takes. If they're just greedy you'll get your wedge or end staying at a richer firm. Some lucky sods get the latter with bonuses & payrises, then the former a few years later. It's an ill wind etc. This particular business is still in operation.......the losses were to get rid of manpower and to replace mainly with automation and artificial intelligence .... cutting costs, saving money, more profits for the top....the whole business is a shadow of what it used to be........they call it progress, but for who?......not the redundant staff, not an improved service or better prices for the customers, not for tax take, not for society as a whole. Quote Link to comment Share on other sites More sharing options...
PeanutButter Posted October 23, 2023 Share Posted October 23, 2023 https://www.mobilenewscwp.co.uk/News/article/redundancies-likely-talk-talk-group-splits-three-standalone-businesses Quote Link to comment Share on other sites More sharing options...
msi Posted October 23, 2023 Share Posted October 23, 2023 Vistry to cut 200 jobs and take £40m hit to profits as demand for housing slows Quote Link to comment Share on other sites More sharing options...
msi Posted October 23, 2023 Share Posted October 23, 2023 2 hours ago, PeanutButter said: https://www.mobilenewscwp.co.uk/News/article/redundancies-likely-talk-talk-group-splits-three-standalone-businesses Makes sense. Wholesale becomes an immediate target for Vodafone / Sky / Virgin to build networks against OpenReach. Retail becomes a cheap acquisition to boost customer numbers. B2B can grow without being held back. Quote Link to comment Share on other sites More sharing options...
Casual-observer Posted October 23, 2023 Share Posted October 23, 2023 Coming through thick and fast now that next years budgets have been drawn up. Quote Link to comment Share on other sites More sharing options...
Housepricecrash91 Posted October 23, 2023 Share Posted October 23, 2023 1 hour ago, msi said: Vistry to cut 200 jobs and take £40m hit to profits as demand for housing slows Still forecasted to make £400million profit though! On this part......'Last month, Vistry confirmed its focus was moving from private to solely social housing' Does anyone know why they are moving from private to social housing? Guaranteed money from UK government? Quote Link to comment Share on other sites More sharing options...
Trampa501 Posted October 23, 2023 Share Posted October 23, 2023 4 minutes ago, Housepricecrash91 said: Still forecasted to make £400million profit though! On this part......'Last month, Vistry confirmed its focus was moving from private to solely social housing' Does anyone know why they are moving from private to social housing? Guaranteed money from UK government? More chance of the likely next Labour government investing in social housing? Quote Link to comment Share on other sites More sharing options...
KeithO Posted October 23, 2023 Share Posted October 23, 2023 The figures appear to back it up. Aircraft Date g-oooh Apr 1989 g-oooi Mar 1990 g-oooj Oct 1989 and: g-bkrm Dec 1990 g-ooos May 1991 g-ooot May 1991 Quote Link to comment Share on other sites More sharing options...
Frankie Teardrop Posted October 23, 2023 Share Posted October 23, 2023 Tomorrow we will publish a new series using additional data sources to produce adjusted levels and rates for employment, unemployment and inactivity for the latest two 3-monthly periods (May to July 2023 and June to August 2023). This will be published as a new table, X10.We will not be publishing the unadjusted June to August LFS data tomorrow. Translation: The employment numbers are woeful. Lies, damned lies and the office for national statistics. Quote Link to comment Share on other sites More sharing options...
Housepricecrash91 Posted October 23, 2023 Share Posted October 23, 2023 36 minutes ago, Trampa501 said: More chance of the likely next Labour government investing in social housing? Yeah, but they must have some inside knowledge or a guarantee now that they will be able to shift social housing more easily than private housing. This is another nail in the coffin for ZIRP or low mortgage rates coming back... without free money from banks, private homes are going to struggle for a very long time... Unless the home builders reduce their margins... Quote Link to comment Share on other sites More sharing options...
fellow Posted October 23, 2023 Share Posted October 23, 2023 (edited) British Steel owner preparing to cut as many as 2,000 jobs, report says https://www.theguardian.com/business/2023/oct/22/british-steel-owner-preparing-to-cut-as-many-as-2000-jobs-report-says Quote "British Steel’s Chinese owner is preparing to cut as many as 2,000 jobs as it battles losses believed to be running at £30m a month, according to reports. The potential cuts, which amount to almost half of the Scunthorpe-based firm’s 4,500 workforce, are part of a switch to greener steel production using electric arc furnaces instead of polluting blast furnaces, which use coke to melt iron ore. The cuts, first reported in the Sunday Times, are still under consideration and it is understood that no firm decision on the restructure has been made". Edited October 24, 2023 by fellow Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted October 24, 2023 Share Posted October 24, 2023 10 hours ago, fellow said: British Steel owner preparing to cut as many as 2,000 jobs, report says https://www.theguardian.com/business/2023/oct/22/british-steel-owner-preparing-to-cut-as-many-as-2000-jobs-report-says "British Steel’s Chinese owner is preparing to cut as many as 2,000 jobs as it battles losses believed to be running at £30m a month, according to reports. The potential cuts, which amount to almost half of the Scunthorpe-based firm’s 4,500 workforce, are part of a switch to greener steel production using electric arc furnaces instead of polluting blast furnaces, which use coke to melt iron ore. The cuts, first reported in the Sunday Times, are still under consideration and it is understood that no firm decision on the restructure has been made". Is that the company Rishi just have billions too? Quote Link to comment Share on other sites More sharing options...
fellow Posted October 24, 2023 Share Posted October 24, 2023 10 minutes ago, Wurzel Of Highbridge said: Is that the company Rishi just have billions too? Wasn't that Tata? Quote Link to comment Share on other sites More sharing options...
scottbeard Posted October 24, 2023 Share Posted October 24, 2023 Just now, fellow said: Wasn't that Tata? Tata own British Steel. The UK government promised them £500m to modernise the plant, but that doesn't necessarily mean they don't need to make redundancies too to make it profitable. Quote Link to comment Share on other sites More sharing options...
fellow Posted October 24, 2023 Share Posted October 24, 2023 (edited) 12 minutes ago, scottbeard said: Tata own British Steel. The UK government promised them £500m to modernise the plant, but that doesn't necessarily mean they don't need to make redundancies too to make it profitable. But this news relates to an additional 2000 job losses at the Scunthorpe site. I thought the £500m was specifically for the Port Talbot site, at which 3000 job losses were already expected? https://www.theguardian.com/business/2023/sep/15/tata-steel-seals-500m-uk-support-package-but-big-job-losses-feared Edited October 24, 2023 by fellow Quote Link to comment Share on other sites More sharing options...
Tulip_mania Posted October 24, 2023 Share Posted October 24, 2023 28 minutes ago, fellow said: But this news relates to an additional 2000 job losses at the Scunthorpe site. I thought the £500m was specifically for the Port Talbot site, at which 3000 job losses were already expected? https://www.theguardian.com/business/2023/sep/15/tata-steel-seals-500m-uk-support-package-but-big-job-losses-feared Electric arc steelmaking needs less manpower than a Blast Furnace and a Basic Oxygen Furnace. The proposed Electric Arc Furnaces are intended to operate in a one stage process using scrap steel as feedstock. It will likely mean that the plants can produce the same amount of steel with fewer staff. Which is understandably not popular with staff in Wales or Scunthorpe where there aren't that many other jobs that pay well around. There have been proposals for hydrogen fed blast furnaces, but I get the impression that these are experimental/expensive and the industry which has regular crises is moving towards the cheaper and less risky option. Starmer was visiting Wales yesterday and made some interesting comments about making more steel, presumably hoping that if the Electric Arc Furnaces are more competitive with imported steel, we could increase the amount we make, meaning that with more Electric Arc Furnaces employment might not drop as much. Quote Link to comment Share on other sites More sharing options...
scottbeard Posted October 24, 2023 Share Posted October 24, 2023 50 minutes ago, fellow said: But this news relates to an additional 2000 job losses at the Scunthorpe site. I thought the £500m was specifically for the Port Talbot site, at which 3000 job losses were already expected? https://www.theguardian.com/business/2023/sep/15/tata-steel-seals-500m-uk-support-package-but-big-job-losses-feared Yes a different site, but owned by the same company. I just meant, it's not like Rishi is giving them money on the condition they don't make redundancies - the money is for plant modernisation in Wales as you say. So there's nothing underhand or two-faced about them taking that money but making people redundant in Scunthorpe. Quote Link to comment Share on other sites More sharing options...
Maghull Mike Posted October 24, 2023 Share Posted October 24, 2023 Ah...........................i remember Tory/Labour touring ALL the Motor bike producers in the 1970s..............."Almost" promising money. Bikes from Japan where vastly better & didn't leak oil.............they all went! Mike Quote Link to comment Share on other sites More sharing options...
msi Posted October 24, 2023 Share Posted October 24, 2023 3 minutes ago, Maghull Mike said: Ah...........................i remember Tory/Labour touring ALL the Motor bike producers in the 1970s..............."Almost" promising money. Bikes from Japan where vastly better & didn't leak oil.............they all went! Mike Because parochial company bosses wanted to save money by not investing, thinking WW1 machine presses and 'good old British spirit...' would compete against JIT / Kaizen / Japanese machinary. Repeat for Taiwan, Korea, and China.... Quote Link to comment Share on other sites More sharing options...
Brendan110_0 Posted October 24, 2023 Share Posted October 24, 2023 (edited) 2 hours ago, scottbeard said: Tata own British Steel. The UK government promised them £500m to modernise the plant, but that doesn't necessarily mean they don't need to make redundancies too to make it profitable. I think the idea was to use electric arc + hydrogen gas furnaces (modernisation plan), not so many people needed as a coal powered furnace. edit. see above answer from Tulip_mania Edited October 24, 2023 by Brendan110_0 Quote Link to comment Share on other sites More sharing options...
fellow Posted October 24, 2023 Share Posted October 24, 2023 3 hours ago, Tulip_mania said: Electric arc steelmaking needs less manpower than a Blast Furnace and a Basic Oxygen Furnace. The proposed Electric Arc Furnaces are intended to operate in a one stage process using scrap steel as feedstock. It will likely mean that the plants can produce the same amount of steel with fewer staff. Which is understandably not popular with staff in Wales or Scunthorpe where there aren't that many other jobs that pay well around. There have been proposals for hydrogen fed blast furnaces, but I get the impression that these are experimental/expensive and the industry which has regular crises is moving towards the cheaper and less risky option. Starmer was visiting Wales yesterday and made some interesting comments about making more steel, presumably hoping that if the Electric Arc Furnaces are more competitive with imported steel, we could increase the amount we make, meaning that with more Electric Arc Furnaces employment might not drop as much. So the efficiency and job losses come from the fact they are only going to be processing scrap metal and are no longer going through the energy intensive process of extracting it direct from the ore. We just have to hope there is enough scrap metal to go around to keep both plants going as it looks like no more brand new steel will be produced in the UK. Quote Link to comment Share on other sites More sharing options...
Maghull Mike Posted October 24, 2023 Share Posted October 24, 2023 3 hours ago, msi said: Because parochial company bosses wanted to save money by not investing, thinking WW1 machine presses and 'good old British spirit...' would compete against JIT / Kaizen / Japanese machinary. Repeat for Taiwan, Korea, and China.... Ah..............remember BSA Ariel 3.............the most evil device ever produced. Vast sums of money were borrowed to design/produce this "World beater"........"Cash extraction project" Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted October 24, 2023 Share Posted October 24, 2023 Never understood the attraction of "vintage" British bikes. Some of the late 70's early Jap stuff like the Suzuki X7 was good tech for it's day. Quote Link to comment Share on other sites More sharing options...
Maghull Mike Posted October 24, 2023 Share Posted October 24, 2023 9 minutes ago, Wurzel Of Highbridge said: Never understood the attraction of "vintage" British bikes. Some of the late 70's early Jap stuff like the Suzuki X7 was good tech for it's day. The X7, 1st 250 to hit a "Ton".............Yamaha topped with with the 250LC Quote Link to comment Share on other sites More sharing options...
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