How worried are you about losing your job right now?

jrmb · 19-03-2020 6:09pm

That's it. The company is "reducing the size of operations to the very minimum" and 12 March was our last day at work. I'm not surprised, but the "Sorry, we're closed" leaves a bitter taste.

scamalert · 19-03-2020 6:24pm

people dont realize how many businesses will be crippled, given a lot that hat to close have to pay insurance, bills etc, which in this country are massive rip off, cant see many lasting 2-3 months time off without going closed for good, at this rate, that said once its over will open many new job opportunities in other sectors but many will suffer great losses, as dole as some might dream is only peanuts to sustain families, imagine spending will be very limited and overall sales down across many industries.

bladespin · 19-03-2020 6:25pm

Not really worried about work as yet, though we're restricting customer site visits based on risk assessment 24 hours before travel, already have 1 customer who's had a serious outbreak - literally hours before I was due to visit.

On the plus side (if there is one) I have a few customers who are literally off the wall busy due to Covid 19.

mkdon · 19-03-2020 6:26pm

skooterblue2 wrote: »

I didnt say that either. The Virus has its own life cycle, its about how we adapt to it. Going by mathematical models, it will peak in April and then plateau.... then it will decline. No my opinion, germans, then Americans say 18 months. More or less the same as the Spanish Flu.

factoring in there is no second wave which was worse for Spanish flu

skooterblue2 · 19-03-2020 9:54pm

mkdon wrote: »

factoring in there is no second wave which was worse for Spanish flu

yet.

19-03-2020 10:31pm

I don't really share the doomsday viewpoints others have.

I'm working as a contractor and although it's not been confirmed, I reckon I'm on the dole.

That said, I anticipate that, a few weeks from now, things will be returning to normal and the whole 'flattening the curve' thing will be considered a success. We'll be alright. Businesses that are on their knees now will get back on their feet. Consumer confidence may be knocked in many areas but they'll bounce back.

People will be itching for a holiday and a night out on the town - you can be sure of it.

PmMeUrDogs · 19-03-2020 10:51pm

Funny that I posted earlier and now I've just been informed I've been laid off with immediate effect.

Hopefully temporary.

antimatterx · 19-03-2020 10:55pm

I don't fear losing my job. I'm a contractor at a travel technology company, bookings are down, but they make so much money for such a low headcount they don't want to let anyone go.

I'm contractor via another company who I'm permanent with, so if the contracting ends, I go in house. Even if I do get served noticed I still have 6 weeks worth of salary owed to me.

If I'm let go I reckon I'll find a new job soon enough!

skooterblue2 · 19-03-2020 11:28pm

Limerick_dude wrote: »

In port for two years do you know how much alone that will cost? .

The ports are giving free berth, if the Cruise Companies go under, the ports lose a very lucrative customer. Everyone is going to go through a tough time, at least help your business partner in his time of need.

thesultan · 20-03-2020 12:28am

I have worked in family pub for over 16 years. To say that I'm gutted would be an understatement. I was scrapping by with the wages I had and to go to €203 is going to be a major struggle. There is no certainty. Will it be a few weeks or a few months. Can business come back from this? The country was flying it. We are going to struggle big time with this.

na1 · 20-03-2020 12:35am

Batgurl wrote: »

People working in the travel and hospitality industry will be lucky to have jobs to go back to. And if they do have a job, there will likely be huge paycuts.

Realistically if business close for 2 months like they did in China, companies will not reopen. Airlines will go bust. Airports will close. Hotels, tour operators, travel agents won’t get the business even when they reopen because consumer confidence will be knocked.

Bars, restaurants, etc will be the same. They just won’t reopen. If the world governments don’t bailout this industry as it did the banks, there won’t be an industry when this is over. That’s my opinion.

So where do people go for dining/drinking/travelling after the COVID is gone?

con___manx1 · 20-03-2020 12:40am

salonfire wrote: »

I agree.

I think the bar industry is finished. With people more health conscious anyway, more use of social media and dating apps, and shortly now after a few months of not going out ; bars and pubs will lose all attraction.

Dating apps lead to bars and pubs. Social media or the pub? Its an easy choice for me when this blows over anyway.

youandme13 · 20-03-2020 12:56am

I work in an independent creche and closed since last week! May not be able to reopen after this

Do you think the Childcare sector will be badly affected (mostly the small independent ones..)

supue · 20-03-2020 2:26am

codrulz wrote: »

You can't be serious, the stock market has crashed slowly‽ Here's a list of the largest one-day point drops in Dow history, with percents at the end. this drop has eclipsed the 1929 crash substantially and has been stunningly quick. Despite the injection of trillions by central banks across the world to provide liquidity and promote buying.
1 2020-03-16 20,188.52 −2,997.10 −12.93
2 2020-03-12 21,200.62 −2,352.60 −9.99
3 2020-03-09 23,851.02 −2,013.76 −7.79
4 2020-03-11 23,553.22 −1,464.94 −5.86
5 2020-03-18 19,898.92 −1,338.46 −6.30
6 2020-02-27 25,766.64 −1,190.95 −4.42
7 2018-02-05 24,345.75 −1,175.21 −4.60
8 2018-02-08 23,860.46 −1,032.89 −4.15
9 2020-02-24 27,960.80 −1,031.61 −3.56
10 2020-03-05 26,121.28 −969.58 −3.58
11 2020-02-25 27,081.36 −879.44 −3.15
12 2018-10-10 25,598.74 −831.83 −3.15
13 2019-08-14 25,479.42 −800.49 −3.05
14 2018-12-04 25,027.07 −799.36 −3.10
15 2020-03-03 25,917.41 −785.91 −2.94

That's a completely skewed comparison based on index value in prior years versus now - the market capitalisation of the Dow Jones now versus 1929 is huge, so of course a 5% movement is going to be a larger point drop versus 1929 and prior years. The Dow Jones had an index value of circa 300 in 1929, of course a 1000 point drop is impossible.

1K off 25K equates to a 4% drop, whereas 100 off 300 equates to a 33% drop. By skewing your list from 1-15 in absolute index value terms, it doesn't reflect the % drop which is more reflective of the loss of value/wealth at the point in time. Most people would be concerned with a 25% drop in their pension based on % decline of an index, rather than a 1K drop which in today's terms only equates to a 3.5% fall. Relativity is key here, showing the % decline is a more representative comparison rather than absolute index value.

What happened in 1929:
Oct 28 - Black Monday: Index fell by 38.33 points (12.82%)
Oct 29: Index fell by 30.57 points (11.73%)
A decline over two days of 23% from starting position

Taking this into today's terms, the Dow traded at 29,551 on the 12th February - a 23% drop in two days would bring it to 22,754, this clearly took much longer to happen. 2.5 years later, in July '32 the Dow ended down 89.2% from 1929 levels. In today's terms that's equivalent to the Dow Jones dropping from 29,551 to 3,191 by September 2022. I hope this helps clarify.

Lollipop95 · 20-03-2020 3:15am

I work in the travel industry for a US company so definitely very fearful at the moment

Nicetrustedcup · 20-03-2020 8:10am

I am counting down the days myself to I am told there is no more job,

Work is drying up fast and there is no coms from My line manager about anything over the past week and a bit,

Company is still hireing so I found a job there looking to hire for and asked could I duel role so I could add more value to the company at this time, the role has the same sr line manager so I asked them and they said leave it with me so fingers crossed I will be able to duel role as being honest I don’t think anyone is going to be looking for work in this ?

c.p.w.g.w · 20-03-2020 8:17am

Work for a big multinational whose stock price was doing well during the current climate.

But still concerned they might reduce headcount, i'm only there 4 months so i'd likely be gone if they went that route.

If i did lose my job, i have sufficient funds to get by, the €203 from the dole would cover my mortgage, bills & food which is €200 a week and €3 to blow on a luxury item...

In all seriousness tho, i'm incredibly fortunate to be in the position i currently find myself

clappyhappy · 20-03-2020 8:38am

OH works for a major food distribution company here, all staff got email saying working week reduced to 3 days a week for the next month at least. I work for a charity funded center getting 2 weeks paid, but obviously they can't pay us beyond that. Even with the government funding we will be down almost 50% of our normal income. Hopefully by end of April we'll see some return to normality. Worrying times ahead for many.

GBX · 21-03-2020 6:15pm

GBX wrote: »

Worried now. Staff informed that we will have some temporary lay offs with others on short time contracts till this blows over. Management to talk to people individually in the coming days.

Myself (and others in the company) got word of our temporary lay offs yesterday. First time I've been in this position before. As its a temporary situation my job is there when the pandemic situation passes but I'm updating my CV - I haven't produced a CV for a job in over 20 years. I was head hunted for the current job and was in the previous job/company for 15+ years. Its a bit daunting putting my details on paper but I think now is the time to get it updated and see what the future holds.

Sonics2k · 22-03-2020 11:25am

Lost my job just before the pandemic kicked off. Started applying for a few jobs and even got a few interviews done.

In the last week each one has called and said it's not happening and there's a hire freeze on.

Humberto Salazar · 22-03-2020 11:34am

Work in mechanical engineering/construction, and pre all this, busy and plenty coming up. That's in doubt now, we await the CIF axe to fall. Some sites have shut but most open still. The only possible hope is the rate of cases remains steady, and that the curve is flattened, I hate these mantras but it applies here. Otherwise if things spiral upwards, the government will definitely order shutdown of non essential works, which we'd fall into. Job will be gone. And who knows what after this is done? The uncertainty is going to destroy the economy.

vandriver · 22-03-2020 1:20pm

Taxi driver here.The combination of 80% less demand,and the very great risk to me and my family's health means I'm off work and on the dole for 6 weeks at least.

Rubberchikken · 22-03-2020 9:42pm

In essential health job and work has increased so don't see any issue at the moment.
I'm grateful to be sure. It's a risk health wise but I love working and really enjoy my job do every cloud etc.

I'm really sorry for those who've been let go, even temporarily, and I sincerely hope this thing ends soon and life moves to a new normal.

ToxicPaddy · 22-03-2020 10:32pm

In IT for a financial trading firm and things are actually going OK atm, the market volatility is actually suiting them and they are hitting targets but let's see how it goes for them in the next month or two. They can be fairly ruthless wfen cutting numbers, so if it happens it will happen fast.

Been there for over 13 years now and TL for one small team, if headcount does start getting cut, probably 2 or 3 of my team may be some of the first to go. Not sure where I stand in the cutting order however.

Adding to that only moved into a new house last year so hoping we can hang on and get through this.

I could probably pick up work handy enough in some of the larger tech firms in my area as its specialised enough, but I'd prefer to stay where I am as I enjoy my job and the company I work for.

codrulz · 27-03-2020 3:38pm

supue wrote: »

That's a completely skewed comparison based on index value in prior years versus now - the market capitalisation of the Dow Jones now versus 1929 is huge, so of course a 5% movement is going to be a larger point drop versus 1929 and prior years. The Dow Jones had an index value of circa 300 in 1929, of course a 1000 point drop is impossible.

1K off 25K equates to a 4% drop, whereas 100 off 300 equates to a 33% drop. By skewing your list from 1-15 in absolute index value terms, it doesn't reflect the % drop which is more reflective of the loss of value/wealth at the point in time. Most people would be concerned with a 25% drop in their pension based on % decline of an index, rather than a 1K drop which in today's terms only equates to a 3.5% fall. Relativity is key here, showing the % decline is a more representative comparison rather than absolute index value.

What happened in 1929:
Oct 28 - Black Monday: Index fell by 38.33 points (12.82%)
Oct 29: Index fell by 30.57 points (11.73%)
A decline over two days of 23% from starting position

Taking this into today's terms, the Dow traded at 29,551 on the 12th February - a 23% drop in two days would bring it to 22,754, this clearly took much longer to happen. 2.5 years later, in July '32 the Dow ended down 89.2% from 1929 levels. In today's terms that's equivalent to the Dow Jones dropping from 29,551 to 3,191 by September 2022. I hope this helps clarify.

Thanks, I had the percentage drop at the end for that reason and stated as much. Looking at percentage terms- not index points as of course, that's a redundant measure we have still eclipsed the largest one day drop of the great depression, at 12.93% vs 12.82%.

1 1987-10-19 1,738.74 −22.61%
2 2020-03-16 20,188.52 −12.93%
3 1929-10-28 260.64 −12.82%
4 1929-10-29 230.07 −11.73%
5 2020-03-12 21,200.62 −9.99%

fungie · 28-03-2020 4:27pm

I'm in the travel tech industry, job cuts and salary reductions being announced soon.

antimatterx · 28-03-2020 4:51pm

fungie wrote: »

I'm in the travel tech industry, job cuts and salary reductions being announced soon.

I am too. Do you work for travelport?

MrMusician18 · 28-03-2020 4:53pm

salonfire wrote: »

I agree.

I think the bar industry is finished. With people more health conscious anyway, more use of social media and dating apps, and shortly now after a few months of not going out ; bars and pubs will lose all attraction.

I don't agree. When the bars open again there will be an almighty session imo.

PsychoPete · 28-03-2020 5:58pm

We closed during the week.I've been reassured my job is completely safe. We've been given full pay for the next 4 weeks. Wasnt expecting to be paid at all

fungie · 28-03-2020 6:54pm

antimatterx wrote: »

I am too. Do you work for travelport?

Nope

How worried are you about losing your job right now?

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