Friday, January 11, 2008

and the job cuts start… then recession

Rolls-Royce to cut 2,300 white-collar jobs

and they said it would never happen.... the uk seems to be mapping out for a recession.........

Posted by mark @ 10:05 AM (756 views)
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8 thoughts on “and the job cuts start… then recession

  • Not to worry, These dinosaur jobs can easily be replaced by the new Knowledge based jobs available to a dynamic economy such as the one we are luck enough to live in.

    I foresee the introduction of a so called business park which seems to be the new name for a shopping mall.

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  • Rolls-Royce blames the low dollar for its woes, and by extension the (comparatively) high pound. Seems like veryone wants low rates: retailers, builders, banks, mortgage-holders, and now manufacturers. The first four want a boost to consumption; the manufacturers want a low pound to help boost exports. I think Gordon will blame China and other external pressures for the inflation, and will let rates drop to “save British jobs” or some such nonsense. How much longer will the BoE be independent?

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  • japanese uncle says:

    Indeed. If you have the nerve to push cut-open sheep soaked in folmalin as ‘high arts’ at the price of a few millions, you can push almost illiterate and innumerate graduates as knowledge-intensive and creative experts.

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  • C'mon Correction says:

    drewster – the BOE isn’t independent. MPC members are hired by government and set rates against inflation which is measured (??!!) by the ONS which is controlled by the government. Therefore rates are controlled by the government.

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  • The eqivalent article on the bbc website is here:

    They key sentence to note is “It’s a way to ‘dollarise’ our supply chain”. If rates are cut the pound devalues. If the pound devalues exports are more expensive. If exports are more expensive companies will cut jobs. Do EA’s and other VI’s who are bleating for a rate cut realise they are also campaigning for British job losses!?!?!

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  • @Francis: I thought that if rates were cut, manufacturing jobs would boom because our exports would become cheaper? Or am I missing something?
    Equally our tourism industry would boom too, as hotel prices for tourists fall. Keeping the currency low has fuelled China’s manufacturing boom of the last decade – couldn’t it do the same for us? Not that I’m suggesting such a reckless course of action, but I’m sure plenty of VIs would leap upon that argument.

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  • @ Francis: “If the pound devalues exports are more expensive”

    Whose exports? Amazing how much rubbish is written all over the internet, not just in puffing the housing market.

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  • oh no man….. whos gonna build my phantom??

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