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 Fool.co.uk, 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. "Fool.co.uk 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)
2 thoughts on “Inevitable job losses, but are we prepared?”
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drewster says:
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.
Fed Up says:
I’ve got savings, currently wasting away in Sterling.