So, another large organisation has announced redundancies, not just a few, but 10,000 of them! British Telecom has never been everyone’s favourite household name, and as of today they might be even lower down the ranks around the UK! Source: http://news.bbc.co.uk/1/hi/business/7726174.stm
What does this mean to you and I? Well, the redundancies that have been announced this week are now making that dangerous inroad into “normal business” that I referred to yesterday. Of course, unique businesses that have ridden off the back of the “boom” as Mr. Brown puts it have cashed in, and if they’re clever, then they’ll be long gone! I am, of course talking about the Property Developers, the Hedge Fund Managers and all of those companies that for years have begged the question “What do they actually do?”
November 2008 has seen the introduction of the mainstream companies; BT is a national institution, it’s as British as well, Royal Mail. Surely, BT offered the “job for life” if you wanted it? Many of us will have grandparents or parents that have worked for one of the UK’s largest employers and whilst BT has suggested that it will mainly affect “agency, contract staff and off-shore workers” I somehow doubt that this will be the picture come March 2009.
The thing that is most concerning about these redundancies (and those announced yesterday) is the speed at which the announcements are being made. The question of which company will be next, seems to hang over us like a black cloud. I really do hope that we will begin to see an end of these reports; however, from the findings yesterday it appears that these may simply keep on occurring.
Tomorrow is your future, are you ready?
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