Hope is not an Effective Financial Strategy

Moneyfordreams

i'm very worried about companies and loss of jobs.. fingers crossed you don't get bad news 

themadvix

I hope your meeting is a bit premature and that the government offers help to companies like yours in their 'emergency budget' later. It is very hard to know what to feel at the moment!

South_coast

Fingers crossed SJ x

Suffolk_lass

All crossed for you this morning SJ x

shangaijimmy

Thanks all. I have to say the meeting was mixed. As of 12noon yesterday the site was closed, so we basically had 90mins to prepare for home working and leave (with an acknowledgement that there's very little most of us can do at home). They are doing all they can to reduce all costs other than staff wages. Fair play to the CEO and Financial Director they have models worked out for a multitude of scenarios.

In short if things last 6-8 weeks we'll be fine but with some pain in the recovery period but jobs secure. If things go into June then staff will have to use up annual leave to ensure pay, and then be able to have sufficient staff to recover the business. If things look like going into July, Aug, Sept and Oct, then we may have to have 75% of wages with the other 25% as unpaid leave. The really bad scenario is that if things go on into Sept & Oct then our industry will have changed so much beyond recognition that they have no idea what anything could possibly look like.

So with all that info to process I headed to visit my grandma before her retirement village is closed to non essential visitors. I then headed to my parents to relay work info and then have the conversation with them about no more childcare for the next few weeks whilst we see how things progress (that didn't go down particularly well). I then had a dog to work things through in my head! And finally spent some time 'working', which consisted of sending e-mails to cancel things and make a few phone calls to delay some meetings/presentations that aren't appropriate for skype.

The new business measures announced later in the day will be a big help for the business, so that was nice info later on. After spending some time digesting I'm staying positive that things will be fine. I'll make some financial adjustments to give us a potential buffer in the summer. I suspect I may lose my annual leave but that's a small price to pay, and I am humbled that we are fortunate that our family shouldn't have to endure too much of the pain that is coming to all. Mrs SJ is fortunate that her company is National, and a necessity, so they will be able to absorb the turmoil. The likelihood is there will be plenty of extra work for Mrs SJ to help mobilise the country again once we are through the worst of it. Now more than ever I am grateful for the last 5yrs of MFW as it's definitely lightened the financial stress of the current climate. For now anyway. I suppose if it does last till Aug then everything will change beyond recognition anyway.

So onto today, and I can safely say that I am very bored! A few phone calls but nothing happening. I do have some meeting minutes/actions to collate and send out, but that's about a 30min job so am saving that for tomorrow! Its raining so dog walk was minimal and the dog is no company as he's just snoring on the couch! I've sat in the living room this morning but may move to the conservatory this afternoon to change the view...

Brodiebobs

I'm waiting for the call to WFH, but not high enough up to know what the forecasting situation is but work in a B2B industry and we are already seeing casualties.
Thankful to have found this site and taken actions which can help keep us afloat. 

themadvix

Glad things didn't sound quite as bad as you'd thought and that the govt help should help your company.

Jessy103

^ Seconded. Hopefully all of this will be over and done with soon and we can go back to the normality of daily life and the daily declutter challenge!

shangaijimmy

Picked DD up from nursery and headed to a bouncy castle place figuring soon we're probably going to he on lockdown for 2 weeks. It's a shame but she's the only in here. So sat with a brew and my kindle!

Suffolk_lass

You might have to pick up some seeds and compost and get into growing your own SJ! (to combat boredom, not because you need to!)