Is the company going bust?

*bob*

I heard that 'the bank' is coming into work tomorrow to discuss finances.
We've already had a lot of redundancies, and further are being planned (about 20% of the now already reduced staff).

Am I reading too much into it, or could it be that the bank pulls the plug, and I'm out of a job very, very soon?

Thanks for your thoughts

ian103

its what happened to me, but it became obvious about two days before it finally went bust. Good Luck, all you can do is remain optimistic.

McKneff

Doesn't sound good but on the other hand, who told you this, they really shouldnt have to be honest.

getmore4less

Try to be in the last but one bunch to go.

That way you get paid and don't have to wait for the insovency and NI fund which can take some time.

if a company gets it wrong in the first round and has to do another get on the list.

Mersey_2

It could be an audit, or restructuring of debt, or yes, what you fear.

Green_box

I agree with Mersey, it is very difficult to take anything from this without further information. it could be a simple discussion about funding, but could be more serious.

Do you know how good the "order books" are at present as this is probably a better indication of how the bank are approaching this.

*bob*

Thanks everyone for your advice and support.
I've heard no more.
I found out because I was asked to provide a report. As for the order books, well.... that's the problem from what I can understand.

On the positive, I have bagged myself an interview with another company, and applied for a further job so fingers crossed.
(I think I need to get out anyway).

As for an audit... we had those recently, in the last year, so I don't believe it's anything like that.

Thanks again

CKhalvashi

I had the bank in 3 weeks ago, to discuss restructuring of assets in a more tax-efficient way, paired with the buyout of a company that has gone bump.

The truth is that it could be for just about anything, but in the current climate, it's probably worth looking now, to avoid being left with no job.

CK