Posted By Suffolkman
There's no exaggeration about the effect on the automotive industry, main manufacturers volumes are down significantly and they are on short time/ extended closures

Suppliers are badly effected to - made worse by the effect of JIT ( there no slack in the system)

The company I worked for saw a reduction of approx 50% in volume and labour and 2 out of 5 members of HSE team allowed to leave under Voluntary Redundancy terms (me included)

Glad to hear there are is jobs out there though!!....comment i received from a recruiter was " you won't stand much chance of getting a job in the oil industry without relevant offshore experience" ... the usual chicken & egg situation... personally i will ignore it and press on with applications with a view to starting work again as soon as i have finished my current studies

Good luck to everyone else

Posted By Raymond Rapp
I am a bit fed up with the media constantly talking down the economy. Even before the recession was official all the news was about an impending recession - quite glad when it eventually arrived! As for the IMF et al, all they seem to talk is how badly off we are going to be in the UK - hardly helpful either.

Without doubt certain industries are currently suffering more than others, although I suspect that eventually those in the supply chain will be affected. My industry (railways) is very busy at present. It is often implied that health and safety cut-backs are high on an organisation's list in times of need. I have not seen any evidence of that as yet, but I am keeping an open mind.

Posted By D H
Totally agree with Raymond and Chris. The media are talking everything down.
The "credit crunch" is definitely the key. Construction and the car industry are badly hit because of the lack of funding and lending from banks. Companies are going to the wall because banks are calling in their loans. The media get hysterical and Joe public keeps his money in his pocket - and the cycle continues.

The media should be putting the pressure on the banks to start money movement instead of spreading doom and gloom.

There had to be a "correction" in the housing market - there is every few years, but the media have been too negative with it.
I feel that the economy would pick up if the message from the media was to come up a notch.
IMO - most companies are doing a bit of reflection and becoming more efficient as the economy slows. My sympathies to any who have been caught in the blast.
Dave

Posted By Seamus O Sullivan
It is quiet at present, I work as a health and safety trainer in construction. Having said that I notice some cowboy trainers are giving up, so I seem to be getting busier. But overall it is getting quiet, and many of my clients are now unemployed. Many of these guys/gals were working 3 months ago!!! This will have an knock on effect in small communities etc

Posted By Chris Packham
Did anyone else see BBC Midlands Today lunchtime? Sir Digby Jones visiting companies in the West Midlands whose business is doing well.

I noted that these were not "traditional" industries, e.g. automotive, but businesses that had gone out to be special and "niche". One had developed and patented its own process for producing shelving for supermarkets and warehouses that other manufacturers around the world said it was impossible to produce.

This is what my experience is telling. Those clients who have "niche" markets or something that is hi-tech and requires special expertise seem to be doing OK.

Chris

Posted By HSE_OG
Oil & Gas is still doing ok, from a technical safety angle projects are still going strong and operations have barely been affected. There will be a reduction in contractors' rates and salaries due as there are more Candidates around.

No industry is recession-proof but those which were so buoyant before are in good standing. Thank goodness!!

Posted By SC
...at the risk of going slightly off topic, Aberdeen and the Oil & Gas Industry has been affected by the current economic situation.

Various operators have suspended all drilling programmes for the next year, and as a result, most of the drilling companies are laying off.
I also know of one operator where there has been a bit of an internal cull.

So, as someone affected by it, it's not all rosey in the Granite city either!

To be fair though, given the profit that some of these companies have made lately, is it just an excuse to cut back a bit....???

Posted By kaggs
There is certainly a lack of opportunities at present but I think that some of this is certainly to do with the gloom and doom being spread by the national press.

However, what the Credit Crunch (and any other recession) does is give the numpty bosses the chance to offload and 'kichen sink' their operations. It gives them the chance to cover up for previous mistakes that should never have been made in the first place. The better ones are preparing for the future now.

Aside from this though, recessions generally last around 12-15 months on average and businesses will grow from a low base therefore profits will recover quickly.

We also have the added advantage (reported differently in the press) of the weakness in Sterling which will help our struggling manufacturing sector.

What company would want to move their operations to the Far East now as they normally invoice in USD to us in the UK? UK exporters will thrive pretty soon and lead us out of the recession helping our balance of payments.

Time to start talking positively here!!

Cheers