How has the current economic crisis affected you personally?

Discussion in 'Off-Topic Chat' started by Jan H, Dec 8, 2008.

  1. Jan H

    Jan H Moderator Staff Member

    I just heard that my father has been "made redundant" by the company he worked for for more than 30 years, and the only company he ever worked for ever since he graduated.

    I was wondering, are there any other members who are feeling the sudden economic crisis e.g. in their own family or circle of friends? Maybe we can turn this in a "moral support" thread or something like that...
    Last edited: Dec 8, 2008
  2. scotchgirl

    scotchgirl Active Member

    I have a good friend who's husband was made redundant about a month ago, and another friend who's husband is a manager who's job it is to make people redundant over the next couple of weeks.

    Neither of them are in a good position financially, and I really feel for them.....

    Personally the economic crisis hasn't really affected us that much. Hubby works for a railway signalling and engineering company, and they've been told they have enough work to last around 10 years....however I am SO glad we built our extension when we did as there is no way in hell the building society would've loaned us enough money to build it now. We would've had to have moved and I just don't think we could afford it.

    I think that for us, its just gonna be a case of 'spending money wisely' and not splurging on anything un-necessary for a few months.....
  3. I'm self-employed and have struggled for work recently, done roughly 5 days work in the last 6 weeks. Also left with a motorhome to sell that is losing value steadily. But I'm getting what work I can here and there. Not resorting to claiming benefits, never have never will (unless bad health were to intervene). At least I have no debts, so hopefully should be able to weather the storm.
  4. Di B

    Di B Member

    Dudley UK
    Voluntary redundancies are happening at work with compulsory in the pipeline so its a sit tight situation for me.

    Have been trying to get a car loan and although I have been accepted the APR is a lot higher than it would have been a few months ago :-(
  5. geordiecolin

    geordiecolin Active Member

    Hetton-le-Hole, Tyne and Wear
    I got one of the very last tracker mortgages so am pleased on that front with current interest rates as low as they are!

    Luckily I work for a Local Authority so my job is safer than most too.
  6. WoodenFlugel

    WoodenFlugel Moderator Staff Member

    So far I've not been directly affected myself - we're still quite busy at work but the design / development and engineering side of my company's business is looking light for next year. We're OK on the actual machine building so all our technicians will be happy. That said, one of our biggest customers is GSK (its the company I have most involvement with anyway) so I have said goodbye to several highly intelligent, talented people recently as the redundancies hit. They'll probably crop up again working for another pharma company, but when big firms are getting rid of good people it doesn't bode well generally. But if I'm honest this has been happening for a year or so - before the banks royally screwed up in the summer.

    Sorry to hear about your Dad, Jan. I hope he gets himself sorted out soon.

    EDIT: Just read that back - it waffles a bit!! I guess what I'm saying is; yes, I have been affected indirectly, but there was a downturn happening before the banks made sure everything went breasts skyward.
  7. StellaJohnson

    StellaJohnson Active Member

    Got made redundant week and half ago. Probably won't get a similar job til next summer. Financially ok till march. Without the redundantcy would not have affected me one little bit. no morgage, no children and no debt, which is the main thing
  8. Pops2501

    Pops2501 Active Member

    Barnton, Cheshire
    I must admit that we haven't noticed it really - we are in the great position of having paid our mortgage off last year and have no debts.

    I know we are lucky and I am thankful. :)

  9. leisa

    leisa Active Member

    Wakefield, West Yorkshire
    We haven't noticed it too much either, I got a new job recently working at a conveyancing legal firm who had made alot of people redundant just as we started, we were quite concerned that we wouldn't be there that long but as we work on remortgages we have been pretty much guarenteed that we are needed which is good!

    The only thing thats affected us is that we were hoping to move house this year and that has had to be put on hold until late next year which isn't a big deal and could work out for the better in that we should be able to afford something better then
  10. PeterBale

    PeterBale Moderator Staff Member

    Hadleigh, Essex
    Not been affected personally, but one of the companies in my building shed 10% of their staff a couple of weeks ago - no prior notice, just an email asking up to terminated their passes wef the close of business that day.

    It is quite worrying, though, with the amount of building work going on in the City at the moment, when there are other buildings with so much vacant space: we have one floor empty at the moment, although part of that was due to relocation within the building to reduce the rates bill!
  11. bbg

    bbg Member

    I work at the luxury end of the motor industry, and the last three months have been horrific. The basic salary is not high; my responsibilities are in the finance and insurance areas of the business, underwriting is much tighter of late and I have on occasions spent days trying to place business that a year ago would have been taken in hours. With a wedding to pay for next spring, I need a few better months but to be brutally honest I don't envisage a great upturn too soon.
    Belt very definitely tightened.
    I was made redundant by a major bank in December 1992, from a Branch manager's position - cheap mortgage, non contributory pension, the lot all ceased at a stroke - so can only extend my sincere sympathy to others experiencing these awful events now.
  12. six pints

    six pints Active Member

    I'm in the position where I have graduated, got a good job, and cant afford a house. I'm lucky that I can live with parents, and save up, but its a bit gutting living away from home for five years and to be back at home. But Im a lot better off then a lot of people, and at least when I can get a mortgage the house prices will be lower!
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