Buying a house, my employer has announced redundancies by end of year

ging84 · 23 May 2014 at 2:12PM

When i was purchasing there were some really nervous times for me, i work in a small company, and it was announced that we had lost our biggest contract it would end in 3 months, which was probably 50% of our business. And this was not the first time this had happened, the previous year something similar had happened and about 20% of the staff were laid off, It's now a year later, we have replaced the lost business and increased by about 50% so the company is in better shape than it ever has been, with 20% less staff so we are having to hire contractors and outsource, and we are continuing to gain more business, so my job has gone from being at risk to very secure.

GavChap · 23 May 2014 at 3:41PM

Thanks to everyone who answered.

I'm going to go ahead with the exchange and purchase anyway, we're exchanging today and completing next Friday! Exciting.

Mrs_Soup · 23 May 2014 at 3:47PM

If you already had your own house and were upsizing I'd stick where you are but if you don't already own then go ahead with it. My husband is in a similar line of work and has had several redundancies - he has not been out of work for more than 8 weeks before starting something new though. If the agencies are calling you maybe start listening to them if something good comes up and brush up the CV ready for job hunting. Presumably your wife could look for work as well if the need arose, there is childcare available (you if you are not working!).

londonlydia · 23 May 2014 at 4:08PM

If you're really worried, then maybe put a few job applications out there? From what you describe to be your work, and your location, I would imagine you'll be fine.