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People will always need insurance and our class is compulsory for certain trades so we'll tick along. Our overheads are low so we don't need a huge amount coming in to break even. For sure some of our clients will go under but then so will some of our competitors so we have a chance of replacing some of what we lose.
It'll be interesting to see what th fiscal response to all of this is; both nationally and internationally.
Warehouse and Oasis clothes shops have just gone into administration.
It’ll be interesting to see what th fiscal response to all of this is; both nationally and internationally.
I did wonder that the other day, you can't just print money to inflate your way out of nations debt because it devalues the currency.
But what happens if the G20 just does for money what OPEC does for oil and says ***k it, everyone print 20% of their GDP to pay the central bank back and we're all even.
Cladding Fabrication and installation business here, very slow before the virus with one big project coming to an end and no new work to return to.
Who wants a 59 year old with loads of skills but no qualifications?!!!
Today I've been hit with an 8% pay cut as a Manufacturing tech with Engineering firm dealing with aerospace & military applications. 45 staff already furloughed due to the bankruptcy of the Oneweb satellite project, unlikely we'll see them again.
Further cuts today included downsizing operations in Poland, not looking good all round.
Freelance software engineer / tester, been working in O&G sector for last 12/13 years. Had weathered storms before (or rather the outfit I generally work for has), but cap on hours, other measures now in place - as above, COVID-19 means no-one's really around to make purchase or renewal decisions, and the oil price plummet due to over-supply and reduced demand has hit pretty hard. Will - hopefully - limp along but may be time to call it a day in next year or so if not sooner.
Four day week invoked today at our company. Fortunately I'm senior author and have critical revenue realising projects to complete so unaffected for now.
The wife work in a private nursing home, long term its not a problem, short term however may be with no new admissions bringing residents in.The normal death rate and admissions normally keep the home full, add the covid deaths and they may be empty within a month.
I think the company (Airbus) will survive for sure, but whether I’ll still be working for them is another matter. They’ll have to drastically reduce costs to stay afloat when customers (airlines) don’t want the new planes they’ve ordered for at least 2 years...
Today I’ve been hit with an 8% pay cut as a Manufacturing tech with Engineering firm dealing with aerospace & military applications. 45 staff already furloughed due to the bankruptcy of the Oneweb satellite project, unlikely we’ll see them again.
Further cuts today included downsizing operations in Poland, not looking good all round.
tbh im thinking about rejecting the paycut & asking to be furloughed instead....given the cost involved in getting to work etc im hardly going to be any worse off.
Thankfully, the super clean air since the lockdown has provided excellent evidence that woodburners have no real impact on air quality 😀
I'm hoping that means I'll have plenty business to go back to come Autumn.
Really though, who knows?? I just hope that people spend money once this has passed.
Self-employed software developer here - current contract requested a 20% temporary rate reduction which I've happily agreed to - we all need to do our bit. Fingers crossed the cost-saving measures work and I'll still have some work coming in over the next few months.
Wasn't vat cut a while back for a while to boost spending? I vaguely recall that. 10percent off would do it for sure.
All good in the world of telecoms for now, but it's always been an unstable job, so no difference really.