Wednesday, May 21, 2008

Mass redundancies loom for housebuilders

U.K. Homebuilding Industry to Cut Tens of Thousands of Jobs

``I've never seen a downturn escalate as quickly as this,'' the chairman said. Trying to compare it with previous downturns ``is like comparing apples and oranges.''

Posted by inthedelhi @ 07:44 AM (1069 views)
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4 thoughts on “Mass redundancies loom for housebuilders

  • ….but surely they will simply go home to Poland, Lithuania, Romania etc.

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  • The benefits of the fast information age.

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  • it_is_going_with_a_bang says:

    It’s always the tightenting of credit isn’t it.

    What it actually is is society living beyond it’s means on credit and then not being able to pay it back.
    Not some mean old man somewhere keeping his wallet closed.

    The bottom line is prices are far too high for the average person to buy a property ‘reasonably’ and ‘comfortably’.

    Remember what happened the last time building went into recession anyone …..

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  • Ah yet more service non manufacturing non exporting jobs go. Soon this will have further reverberations in the high street causing the second wave of mass redundancies, then triggering a decrease in tax payments thus cutting council services rendering another round of redundancies…………………etc

    Oh and then we Engineers shall reign supreme MWHAHAHAHA

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