Wednesday, Jun 28, 2006

555 jobs to go in Basingstoke factory closure

BBC News: 555 posts may go in plant closure

A pharmaceutical company has announced plans to close its plant in Hampshire with the loss of 555 posts. The Eli Lilly site in Basingstoke has 445 employees and 111 contractors.

Posted by webmaster @ 11:22 PM (556 views)
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4 Comments

1. Preguioso said...

I have noticed how job losses and insolvency are increasing rapidly..

I had an interesting conversation with one of my wifes clients on Saturday. Both her and her husband are early 40s, have good professional jobs, two young children, tasteful house in good area..they have the appearance that they are doing well. Somehow the cost of living came in the conversation. I said that despite renting, having no house, no debts and money in the bank, in our position are rapidly finding that we are being priced out of this country.

She responded by saying that apart from the mortgage they have no debt but with rising taxation, cost of living and cost of childcare that they are now discussing methods of raising extra income. In addition she has just heard that half her company department are being made redundant and is not sure about her own future. These people represent what I consider to be average middle class Britain and once they feel the squeeze one can guarantee that a recession is close at hand.

Thursday, June 29, 2006 09:27AM Report Comment
 

2. Preguioso said...

I have noticed how job losses and insolvency are increasing rapidly..

I had an interesting conversation with one of my wifes clients on Saturday. Both her and her husband are early 40s, have good professional jobs, two young children, tasteful house in good area..they have the appearance that they are doing well. Somehow the cost of living came in the conversation. I said that despite renting, having no house, no debts and money in the bank, in our position are rapidly finding that we are being priced out of this country.

She responded by saying that apart from the mortgage they have no debt but with rising taxation, cost of living and cost of childcare that they are now discussing methods of raising extra income. In addition she has just heard that half her company department are being made redundant and is not sure about her own future. These people represent what I consider to be average middle class Britain and once they feel the squeeze one can guarantee that a recession is close at hand.

Thursday, June 29, 2006 09:28AM Report Comment
 

3. Bubbles. . . . said...

This is just the beginning for a massive correction in HPI its impossible for this madness to continue....pass the parcel is going to stop and feel sorry for the last person...

Thursday, June 29, 2006 10:25AM Report Comment
 

4. inbreda said...

The madness has continued longer than anyone predicted. This is a good thing - imagine if house prices went up 100000000% overnight, but then fell back down the next day - nobody would notice or care. The fact that prices have been high for an extended period means that more people have bought houses at the peak. More people are overstretched and severely affected by an IR rise. It means that when the correction does come, it's going to be far more serious and protracted than ever before.

Thursday, June 29, 2006 11:16AM Report Comment
 

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