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TheLastSamurai

North West Recession On The Way

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I 'enjoyed' a disturbing conversation this evening about work with a mate who is a partner in a substantial north west law firm.

He is an employment specialist and acts for big business.

He was telling me with mixed pride and concern about how his firm in the last month has suddenly started receiving significantly increased instructions for downsizing his business clients ie. collective redundancies. This is very profitable work - it is not about litigation - it involves finding a way through the maze of employment legislation governing 50+ redundancies, arranging consultation with unions and workplace representatives and ensuring that the client is bulletproof against litigation from the unions.

As it is all in planning stages, the end results aren't yet in the news or the statistics, but it suggests that the shrinking of the credit and property bubble is about to have very real effect on very real people in a big way by Christmas.

He is also involved in much more pay negotiations with unions, as the clients are keen as mustard to limit pay rises and the unions are getting very defensive.

Obviously there is always a bit of this work about but he was shocked at the extent of instructions and was making noises about how the CBI are telling his clients to batten down the hatches for the next year on the most optimistic case for the economy.

Suppose it shows that certain economic commentators are right when they say that house price falls predate unemployment. It sounds to me that it is about to start snowballing in the regions.

Further house price deflationary pressure - great - but lets make sure we are the ones still left in work!

Is there any other evidence that the shit is just starting to spray out from the fan with some force in the metropolitan centres outside London?

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I 'enjoyed' a disturbing conversation this evening about work with a mate who is a partner in a substantial north west law firm.

He is an employment specialist and acts for big business.

He was telling me with mixed pride and concern about how his firm in the last month has suddenly started receiving significantly increased instructions for downsizing his business clients ie. collective redundancies. This is very profitable work - it is not about litigation - it involves finding a way through the maze of employment legislation governing 50+ redundancies, arranging consultation with unions and workplace representatives and ensuring that the client is bulletproof against litigation from the unions.

As it is all in planning stages, the end results aren't yet in the news or the statistics, but it suggests that the shrinking of the credit and property bubble is about to have very real effect on very real people in a big way by Christmas.

He is also involved in much more pay negotiations with unions, as the clients are keen as mustard to limit pay rises and the unions are getting very defensive.

Obviously there is always a bit of this work about but he was shocked at the extent of instructions and was making noises about how the CBI are telling his clients to batten down the hatches for the next year on the most optimistic case for the economy.

Suppose it shows that certain economic commentators are right when they say that house price falls predate unemployment. It sounds to me that it is about to start snowballing in the regions.

Further house price deflationary pressure - great - but lets make sure we are the ones still left in work!

Is there any other evidence that the shit is just starting to spray out from the fan with some force in the metropolitan centres outside London?

Just take a loan, you'll be alright.

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Over 100 staff were made redundant by text from a Liverpool law firm just last month, that wasn't widely reported but they were a leading conveyancing firm.

Not surprised really with conveyancing transactions down 60%.

Well at least they'll have lots of company in the dole queue. No one else works in Scouseland.

Who was it. JST? GW?

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Not surprised really with conveyancing transactions down 60%.

Well at least they'll have lots of company in the dole queue. No one else works in Scouseland.

Who was it. JST? GW?

Now now, play nicely I am from Scouseland and work as do some other people I know, there's going to be carnage once the capital of culture ****** is over, the dockside flats and wirral waterside developments should be interesting.

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Guest KingCharles1st

So we could truly be looking at riots in the Autumn then, when two or three really big employers go... :ph34r:

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  • 399 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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