How long between chops ?!?

frank_benson

Hi All,

Please be kind to a newbie

The company I work for announced last week a 10% reduction in the workforce due to market conditions. As we're a small company, that meant six of my colleagues left. As there was less than 20 leaving, there is no minimum consultation period and those affected left within a couple of days of the news.

I was fortunate enough to survive this initial cull, but worry I may not be so lucky next time. I've started to "recession proof my finances" and I'm currently updating my CV. "Hoping for the best, but preparing for the worst".

I appreciate there are no hard and fast rules for this, but I'd like to canvass the opinion of the forum. Would it be fair to assume that the management would allow a period of at least three months (another quarter) to pass before taking any further action ? I'd like to hear from those who have been at companies were multiple lay-offs have happened. I would find it hard to imagine they would want to go through the same thing every month.

Frank

LittleVoice

They probably don't want to go through the process this month so not wanting to go through it every month probably doesn't have much bearing.

It all depends how things go and how well they have thought through their actual requirements and whether their forecasting is reasonable.

But you are absolutely right to be updating your CV and looking at your finances. (Something to do in the good times too.)

piggeh

Depends on the industry and how you see things going. Have they steadied out or still falling? It is less of a shock if you start to adjust your lifestyle and finances earlier though and get some money in the bank to fall back on if the worst happens as job hunting is pretty tricky at the moment.

If they make another 6 redundant then again the consultation period wont apply, so it depends how quickly things are worsening.

frank_benson

Thanks for the replies, guys.

The management have been very tight-lipped about the whole thing, which is quite frustating. However, have heard a whisper that we've been losing money for the past six months and have had to adjust our cost-base. Reducing our numbers by 6 puts at back at a break-even figure. However, we won't feel the benefit of those cutbacks for a couple of months. If things get worse (and I have a feeling they will), probably more job losses.

I have a feeling as we're at the start of the recession, that there will further job losses, as things will probably get worse before they get better.

Having given it more thought since my original post, I've come to the conclusion there is little point in worrying. All I can do is work hard in helping the company turn things around, stash as much cash as I can, and keep my CV upto date. I may get the chop this time next month or next year, but as long as I've done what I can, I have no need to reproach myself. It's business, just business, pure and simple.

SomeBozo

My company has worked with about 50 companies in the last month.

I find that they "stop" when they feel they can survive their worst 12 month forecast.

If that means loosing 10 staff, then 20 etc, they will do it.

Its not who you are or how much you earn, its "can the company exist without me".

Bozo