Monday, May 5, 2008

Inevitable job losses, but are we prepared?

Brits should begin to prepare for mass job losses

David Kuo, Head of Personal Finance at, says: "Consumers should not dismiss the 4% rise in company insolvencies as a blip. 3,210 companies went bust between January and March this year, taking the twelve-month running total to over 12,500 businesses. " urges all employees to ensure they are prepared for the worst, should their employer become insolvent. Businesses can go bust for a number of reasons, though it invariably boils down to a shortage of cash...

Posted by converted lurker @ 12:31 PM (598 views)
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2 thoughts on “Inevitable job losses, but are we prepared?

  • Nobody has any savings these days. Everyone believes that if they lose their jobs they can just rely on their credit cards for a few months instead. In the past this was true, but with the credit crunch banks are likely to take away the umbrella as soon as it starts raining.

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  • I’ve got savings, currently wasting away in Sterling.

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