Boards.ie uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Click here to find out more x
Post Reply  
 
 
Thread Tools Search this Thread
13-03-2020, 11:06   #1
OMM 0000
Registered User
 
OMM 0000's Avatar
 
Join Date: Feb 2018
Posts: 2,463
How worried are you about losing your job right now?

As the title says, how worried are you about losing your job right now?

I know most of the news is about the health impact of the coronavirus, but I think most people will be more affected by the financial implications of this virus.

Personally, I've halved my salary. My team has also taken a salary reduction. This is already causing some of them to look for other jobs (understandable).

I think the company I work for can probably survive another three months or so should things stay exactly the way they are now.
OMM 0000 is offline  
Advertisement
13-03-2020, 11:19   #2
jrmb
Registered User
 
Join Date: Sep 2012
Posts: 480
I've been working full time and I'm getting ready to go back to college. I was hoping to finance the coming two years through a mixture of a loan and working half-time. The company has now suspended services until 30 March, and it's unclear whether they can withstand that, not to mention any extension to the closure. It's a very depressing time.
jrmb is offline  
13-03-2020, 11:36   #3
Irishphotodesk
Registered User
 
Irishphotodesk's Avatar
 
Join Date: Mar 2019
Posts: 616
More concerned with paying bills and surviving financially than the loss of my job.... Being self employed and operating as a contractor means I qualify for very little from the state.

Working 6 days a week for the past 10years to make ends meet, have had multiple talks with social welfare throughout the years, social welfare say that annually I earn too much to qualify (approx 35k) .... But if I give up the extra day a week, my wage drops by approx €10k - which I cannot even pay mortgage and bills with.... Only TV subscriptions I have are Netflix (€15month), mobile phone and home boradband costs me €70month - apart from that diesel, parking and general work expenses , food and house bills.

Financially - I'm operating month to month and this will put myself and my family in a difficult position financiallly,

Life has been very difficult for a number of years,... But ... Am I worried about my job ? No, my workplace might be closed but my job will be there when it reopens.
Irishphotodesk is offline  
13-03-2020, 11:40   #4
Fred Cryton
Registered User
 
Fred Cryton's Avatar
 
Join Date: Feb 2020
Posts: 253
Your company should apply either for government assistance or else short term loans from banks. There should be no need for businesses to hit the wall over this.

It's a short term sharp economic shock but give it 4 months and will be distant memory.

Also bear in mind that corporates have a set expenses budget for 2020. So if they're not going to restaurants in early 2020, they will be going twice as much in late 2020. That budget will certainly be spent. This is just a short term cashflow problem for restaurants which should be manageable.
Fred Cryton is offline  
18-03-2020, 20:18   #5
salonfire
Registered User
 
salonfire's Avatar
 
Join Date: Sep 2007
Posts: 1,513
Quote:
Originally Posted by Fred Cryton View Post
Your company should apply either for government assistance or else short term loans from banks. There should be no need for businesses to hit the wall over this.

It's a short term sharp economic shock but give it 4 months and will be distant memory.

Also bear in mind that corporates have a set expenses budget for 2020. So if they're not going to restaurants in early 2020, they will be going twice as much in late 2020. That budget will certainly be spent. This is just a short term cashflow problem for restaurants which should be manageable.
I hope you're right!

When you see mammoths like Ryanair resorting to their cash reserves to try see it through, no-one outside the food and medical sectors can be 100% certain.

I hope this pandemic coming after a financial meltdown reminds the public sector unions how much a secure job means to families and reduce their demands accordingly when this is over. They can't be bench marking salaries but not bench mark job losses.
salonfire is offline  
Advertisement
18-03-2020, 20:21   #6
smelly sock
Registered User
 
Join Date: Feb 2010
Posts: 5,722
Civil Servant so secure. Absolutely wish anyone who is threatened by jobs losses all the best. Hopefully this wont be like the last down turn and we will recover quicker.
smelly sock is offline  
18-03-2020, 21:55   #7
Batgurl
Registered User
 
Batgurl's Avatar
 
Join Date: Jun 2010
Posts: 1,001
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.
Batgurl is offline  
18-03-2020, 22:39   #8
krissovo
Registered User
 
Join Date: Jun 2007
Posts: 2,212
I am in the tech industry working with a one of the big Global leaders. Not quite as bullet proof as some but I feel very secure as even from home I am 90% productive using online conferencing and our customers include most governments, banks, defence and major retail stores need our product to function.

Our managers have told us to prioritise family first and customers second followed by our daily work. These rules apply to every employee globally, even our call center staff are working from home.
krissovo is offline  
Thanks from:
18-03-2020, 22:52   #9
salonfire
Registered User
 
salonfire's Avatar
 
Join Date: Sep 2007
Posts: 1,513
Quote:
Originally Posted by Batgurl View Post
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.
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.
salonfire is offline  
Thanks from:
Advertisement
19-03-2020, 09:37   #10
Colonel Panic
Registered User
 
Join Date: Aug 2011
Posts: 1,265
I work in a company that should have the resilience to make it through, but I'm not there long so all bets are off.
Colonel Panic is offline  
19-03-2020, 11:38   #11
skooterblue2
Registered User
 
skooterblue2's Avatar
 
Join Date: Feb 2012
Posts: 4,786
Quote:
Originally Posted by Fred Cryton View Post
Your company should apply either for government assistance or else short term loans from banks. There should be no need for businesses to hit the wall over this.

It's a short term sharp economic shock but give it 4 months and will be distant memory.

Also bear in mind that corporates have a set expenses budget for 2020. So if they're not going to restaurants in early 2020, they will be going twice as much in late 2020. That budget will certainly be spent. This is just a short term cashflow problem for restaurants which should be manageable.
You are far out. This is going to take between 18-24 months, for the virus to complete its cycle.

The financial crash is only a coincidence and is a separate incident to the Virus. I have been predicting this date for 12 months (within a two week window). Everyone was laughing at me last christmas as they all had bumper years in retail. I was telling people to gear up for a sharp financial crash. I was wrong on that accounts as someone or group is interfering with how the stock market is performing as it seems to be a slow crash.
skooterblue2 is offline  
19-03-2020, 11:42   #12
skooterblue2
Registered User
 
skooterblue2's Avatar
 
Join Date: Feb 2012
Posts: 4,786
Quote:
Originally Posted by salonfire View Post
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.
Restaurants and Bars and taverns were the next invention after beer. They were there then they will continue afterwards. This virus will be over in 2 years. Financially? Who know but we have to properly solve the problem this time. No more papering over, forgiving banks and printing more money.
skooterblue2 is offline  
(2) thanks from:
19-03-2020, 11:46   #13
skooterblue2
Registered User
 
skooterblue2's Avatar
 
Join Date: Feb 2012
Posts: 4,786
Quote:
Originally Posted by Batgurl View Post
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.
I am going to miss the cruise line industry. That is going to take a massive hit with ships tied up for long durations in port. They are already tied up for a month. Anyone here know anything about shipping? An hour tied up is a long time considering port fees. Now imagine one of them Behemoths tied up for months or two years?
skooterblue2 is offline  
19-03-2020, 11:48   #14
Cyrus
Registered User
 
Join Date: Jan 2003
Posts: 11,619
Quote:
Originally Posted by skooterblue2 View Post
You are far out. This is going to take between 18-24 months, for the virus to complete its cycle.

The financial crash is only a coincidence and is a separate incident to the Virus. I have been predicting this date for 12 months (within a two week window). Everyone was laughing at me last christmas as they all had bumper years in retail. I was telling people to gear up for a sharp financial crash. I was wrong on that accounts as someone or group is interfering with how the stock market is performing as it seems to be a slow crash.
if you think that schools are going to close and everyone is going to be working from home for any longer than 2-3 months i think you are wrong.
Cyrus is offline  
(2) thanks from:
19-03-2020, 11:52   #15
skooterblue2
Registered User
 
skooterblue2's Avatar
 
Join Date: Feb 2012
Posts: 4,786
Quote:
Originally Posted by Cyrus View Post
if you think that schools are going to close and everyone is going to be working from home for any longer than 2-3 months i think you are wrong.
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.
skooterblue2 is offline  
Post Reply

Quick Reply
Message:
Remove Text Formatting
Bold
Italic
Underline

Insert Image
Wrap [QUOTE] tags around selected text
 
Decrease Size
Increase Size
Please sign up or log in to join the discussion

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Share Tweet