Made a 'Furloughed Worker' by Employer, any repercussions?

RealBobbyDazzler

 Deleted  

calcotti

Unless Nostradamus included it in his prophecies I don't see how any of us can know how institutions will look back on this unprecedented period.
You can either accept your employer's offer in the knowledge this will protect your finances in the short-term while events unfold or you can refuse the offer in which case your employer will presumably make you redundant and you can then avail yourself of the benefits system (if eligible).

RealBobbyDazzler

Fortunately redundency isn't necessarily a concern for us (yet), company can survive a while on savings.  I'm more concerned how it will work for me personally

sharpe106

In the short term you will be one of the lucky ones on full pay and not working. So short term should not effect you at all as you can carry on paying your bills etc as you do no. So should have no effect on your credit rating. However if it goes on for a long period of time who knows nobody has a crystal ball, your company might not be able to afford to carry on paying the 20% or the government might not be able to afford to carry on paying the 80% if it carries on. So for time being just be grateful that you are still getting paid full and try to save any extra money you can in case it carries on a long time. 

RealBobbyDazzler

sharpe106 said:

In the short term you will be one of the lucky ones on full pay and not working. So short term should not effect you at all as you can carry on paying your bills etc as you do no. So should have no effect on your credit rating. However if it goes on for a long period of time who knows nobody has a crystal ball, your company might not be able to afford to carry on paying the 20% or the government might not be able to afford to carry on paying the 80% if it carries on. So for time being just be grateful that you are still getting paid full and try to save any extra money you can in case it carries on a long time. 

Thankyou, that's how it sounded to me.  I appreciate I'm in a fortunate position at a terrible time.  Thanks again for the help and all the best.

calcotti

Bizarre that having thanked people for their replies OP then deleted original post!

RealBobbyDazzler

calcotti said:

Bizarre that having thanked people for their replies OP then deleted original post!

Just didn't want my personal financial situation on the internet & the advice didn't necessarily help with future repercussions more that I was fortunate in my position.. I thanked the poster nonetheless.