Credit Crunch Continues it's Grim Harvest

by Bruce Hawkins

Depending on what you read the Uk Credit Crunch/recession is either nearing the eye of the storm or is already showing signs of recovery. Aside from the sources of news you choose I think an opinion is formed more accurately by your personal experiences.

How many friends, acquaintances, family and colleagues (former colleagues to be precise) have been made redundant or just let go by their employer? When the broadsheets and tabloids were eating their fill of credit crunch led stories from late summer and Autumn 2008 till the end of 2008 the actual effects of the recession (people losing their jobs and businesses going to the wall) had not been experienced by many and seemed to be confined to the fancy financial services sector (bloody investment wankers...I mean bankers), property (nefarious and annoying estate agents who have gorged on the inflated salaries awarded to the bankers) and deep ooop North in the manufacturing and construction trades (no more fancy houses and designer flats complexes to build).

I hadn't known anyone directly who had been let go or been in a business that swiftly went under. Now, months later and half-way through 2009, I know several people who have been let go, been made redundant and at best just had an indefinite salary freeze. Many people. My brother commented just a few days ago that he had had the official chat with HR that he was being notified that he was 'at risk' of being made redundant. The 'chat' was part of the official protocol of redundancy whereby an employee is told that they are at risk and then advised of the options for employment in a different role within the organisation. If this option fails then it is simply the countdown to the big goodbye and -if you are lucky enough to have over two years continuous employment- some form of a decent financial farewell package. My brother works in the chemical engineering sector -one that I thought was recession-proof. On closer inspection that thouht is daft. People still need their oil but the price of oil has gone down from it's ridiculous heights of a year ago, and these same oil companies are earning less and so spending less and anticipating bad financial times and so will look to trim staff deemed 'unecessary'. Yikes.

If you do not know someone directly that has been affected please respond anonymously with what your sector is so I can tailor my CV! I'd also like to hear your most amusing and harrowing 'at risk' chat and redundancy stories.