Furlough scheme coming to a close

Mag90

As reported in the news today, they are looking to announce the scaling back of the furlough scheme this week (that doesn't mean it's ending this week, it will still be running until 1st June as planned).

Our company in the hospitality industry has us all furloughed - would others recommend I start looking for a job? It almost feels inevitable we will have to be made redundant when our business model relies on large gatherings (which I can't see happening in 2020 at all).

Any advice appreciated as I'm concerned and wanting to get ahead of the pack if there's a long line of redundancies incoming this week. 

poppy12345

I don't think anyone can predict what will happen in the future. I have heard they are talking about reducing the furlough but it could be just talk, It may just end completely,  no one knows exactly what will happen.

It's the same with redundancy, only your employers can answer that one.

Mag90

poppy12345 said:

I don't think anyone can predict what will happen in the future. I have heard they are talking about reducing the furlough but it could be just talk, It may just end completely,  no one knows exactly what will happen.

It's the same with redundancy, only your employers can answer that one.

The winding down is almost certain to be announced this week to allow for companies to begin the redundancy process within the required timeframes. 

My dilemma is waiting out to see if I get made redundant or just jumping ship to protect myself and least find another job before competition hots up. Sorry I know it's difficult for anyone to really advise but obviously I'm panicking and any shred of advice is helpful. 

Thrugelmir

Mag90 said:

As reported in the news today, they are looking to announce the scaling back of the furlough scheme this week (that doesn't mean it's ending this week, it will still be running until 1st June as planned).

Scheme is currently running to the 30th June. External events may well overtake the scheme. Companies themselves cannot continue indefinately with no income. 

Grumpy_chap

If you are concerned about job security, either generally or specifically at your workplace, then taking steps pro-actively may be prudent.  At the very least it will leave you with an up to date CV and possibly interview practice.  At best a dream job.  Most likely somewhere in the middle, or if your own job is confirmed as secure then that is still there.  The most obvious reason to stick it out (other than love for your job) would be if you were in line for a large redundancy payout.

The current furlough scheme runs until the end of June and nobody can say what will happen after then.  It may be that it is no longer required if we are all back to normal.  Somehow, I would imagine that there will be some process that preserves the bulk of the hospitality industry as viable given it is a large proportion of GDP, plus an export product (importing tourists and business conferences is generating revenue from overseas) - how that will look with the rumoured changes to air travel is anybody's guess.

At this stage though, it is probably worth waiting to see what is announced by the PM later today and also how the details of that pan out in the subsequent period.

poppy12345

Mag90 said:

poppy12345 said:

I don't think anyone can predict what will happen in the future. I have heard they are talking about reducing the furlough but it could be just talk, It may just end completely,  no one knows exactly what will happen.

It's the same with redundancy, only your employers can answer that one.

 Sorry I know it's difficult for anyone to really advise but obviously I'm panicking and any shred of advice is helpful. 

Any advice anyone gives you will just be a complete guess. You are most likely not the only person to be panicking right now but no one can give any advice because we know as much as you.

sharpe106

No harm in looking for another job. You can then make a more informed decision at the time. The landscape is changing most days.

thumpthump

I run a business in the hospitality industry, and have a few employees who I have furloughed, I know that my business will be the last to reopen! 
If and when the govt scheme stops I will take the hit personally as my employees are actually very important to not only me but my business too.

amykirk1996

There have been mutterings in the press about the furlough scheme being phased out or changed for most businesses, but for those worst affected (hospitality, pubs, restaurants) it could be extended.

The Chancellor is due to make an announcement before the 18th May, so let's wait and see.

diggingdude

i would guess hospitality types will get a furlough extension but there is no need to have an extension for many roles

Mag90

Grumpy_chap said:

If you are concerned about job security, either generally or specifically at your workplace, then taking steps pro-actively may be prudent.  At the very least it will leave you with an up to date CV and possibly interview practice.  At best a dream job.  Most likely somewhere in the middle, or if your own job is confirmed as secure then that is still there.  The most obvious reason to stick it out (other than love for your job) would be if you were in line for a large redundancy payout.

The current furlough scheme runs until the end of June and nobody can say what will happen after then.  It may be that it is no longer required if we are all back to normal.  Somehow, I would imagine that there will be some process that preserves the bulk of the hospitality industry as viable given it is a large proportion of GDP, plus an export product (importing tourists and business conferences is generating revenue from overseas) - how that will look with the rumoured changes to air travel is anybody's guess.

At this stage though, it is probably worth waiting to see what is announced by the PM later today and also how the details of that pan out in the subsequent period.

Thank you, that is helpful. I brushed up my CV earlier in lockdown but I think I will follow the advice to stick it out, as I'd be in line for £2k+ in redundancy if it comes to it, which would tide me over nicely (especially in a time when there is little expenditure other than the basis). I am sure I could find some work before that (and my current savings ran dry).

As you indicate, I am hoping the furlough scheme might be extended for our sector, given its national importance - both economically and socially. But the government can't continue this indefinitely and there will become a point where the company is left to fend for itself. With no large gatherings in sight, it could be the end of our business, which is sad. Thanks again for the response anyway, as it's difficult to advise in an ever changing scenario. 

thumpthump said:

I run a business in the hospitality industry, and have a few employees who I have furloughed, I know that my business will be the last to reopen! 
If and when the govt scheme stops I will take the hit personally as my employees are actually very important to not only me but my business too.

That is very good of you and your employees are lucky to have you as a boss! Hopefully, there is a route out for your business soon. Unfortunately a number of great businesses are going to fall as a result of this cruel virus. If customer confidence remains high next year, then hopefully the recovery should not be too slow and arduous.