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Author Topic: Credit crunch  (Read 2560 times)
raindance
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« on: September 15, 2008, 02:13:26 pm »

I guess a lot of us are affected, one way or another, by the credit crunch.  Awful disappointing news about Lehman Brothers - I hope that none of our DDers is caught up in that, but I expect the fall-out will be quite widespread.

Our company is still hiring people, but I've notice we are cutting back on interim workers.  How is your company faring?  Do you have to cover for absentees more or cover for vacant posts that never seem to be filled?  Is redundancy in the pipeline?



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gee4
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« Reply #1 on: September 15, 2008, 03:15:00 pm »

Rain,

It seems to be having a knock-on effect everywhere.  I know from talking to recruitment agencies things are quiet and slow, however there does seem to be a lot of temp jobs out there covering maternity leave thankfully for which I can apply.

A lot of companies still seem to be recruiting but not necessarily in my field.

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raindance
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« Reply #2 on: September 15, 2008, 03:22:51 pm »

I hope things are going ok for you, Gee.  I know you posted last week about not getting replies/acknowledgements from companies.  That's too bad when people can't be bothered to do even a simple email, let alone a letter.

Fingers and toes crossed for you.

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gee4
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« Reply #3 on: September 15, 2008, 03:28:27 pm »

Rain, I appreciate that.

I guess companies don't really make the effort any more which is disappointing.  My CV has gone forward for yet another temp job today so let's see if that one comes to fruition.

Maybe I should start writing a book, or my memoirs!!

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mlm668
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« Reply #4 on: September 15, 2008, 06:06:03 pm »

In my area, I noticed a while back that there are fewer and fewer job openings to apply for.  And our Governor (Governor Kaine in VA) announced hiring freezes for the State.  I still see job openings for state jobs, but nothing really in my field or my area.

This slowdown reminds me of how it was during the Enron shake up and after 9/11.  I'm sure it will get better but in the meantime, I'm just thankful I have a job.  I'm looking but my options are few.

Michelle
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peaches2160
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« Reply #5 on: September 16, 2008, 01:13:13 am »

My son is in the job market after being laid off in Feb. He is now working at the company my husband works for.  However, the job is not in his field and he is still looking.  We receive job alerts set up in various employment websites.  I noticed recently we receive the alerts but no jobs are listed.  The company I work for has recently started realigning and funding for some areas has been cut.  Several people were placed in other positions, but some did take a severance package.  An admin in our area was displaced and I have had to take on some of her support responsibilities for two additional executives in addition to my own.  I am thankful to have a job.

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raindance
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« Reply #6 on: September 16, 2008, 10:17:14 am »

The husband of a friend of mine has just lost his job with Lehman Brothers.  He's very high net worth, so will survive very nicely and probably doesn't need to work any more.  One young chap came all the way from France yesterday (and there's been a fire in the Channel Tunnel so his journey was a nightmare) only to find that his new job no longer exists.

The big earners will often have good investments to fall back on, but it's the ancillary staff that I feel most sorry for and all the businesses that depend on these large companies for their own business - the suppliers, dry cleaners, hairdressers, caterers etc etc.  

Like many people, I'm just pleased to have a job and in a fairly stable sector - for the moment.

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