Not what I wanted to hear.

[deborah]

So there I was at work last night when I found out that the company I work for are looking at closing 400 shops.
I always worry about my job anyway but now I really might have something to worry about.

[prison break fan]

Oh deborah poor you! what is going to happen to everyone? My son got made redundant in September last year, and thought he was really lucky to get another job straight away, but he hates it! What can you do when you have small children, a mortgage and an expensive wife? Best of luck to you.pbf

[invisiblepiper]

I sympathise - my OH's 'half pay' is now beginning to bite too, but you will cope - honestly.

[Rosendula]

Poor Deborah
So far we've been OK in this recession, but during the last recession we suffered badly, and I can remember the worry and stress it caused. I think if we had been more self-sufficient back then, we would have coped a lot better, so I'm pleased you're already on the Ish route. You may still have wages at the moment, but I would advise you to spend like you've already lost them so that IF the worst happens, at least you might have something in the bank to see you through the hard times. Oh, and don't go taking out any credit!
Best wishes, and good luck. Whatever happens, you'll be fine, and we're always here to listen should you need to talk

[JulieSherris]

Deborah, good luck with it - and ditto what Rosie said... hang on to every spare penny that you can right now.

We've had the recession discussion this morning & hubby is looking to change jobs in the near future - he wants to make sure that he gets a foot in the door of a recession proof industry... not easy at the moment though!
Being 48, he's had 2 weeks out of work since he was 16... and that was the week before we moved to Ireland & the week after, so a job loss would certainly be culture shock for him
Although I'd get my garden ready for this year a LOT quicker

Hang in there, though... it WILL pass......
Julie x

[Millymollymandy]

We went through all of this just after 9/11 and only 6 months after buying our first house together with a massive mortgage (cos hubby was earning a massive corporate salary + bonuses at the time). He got fired one day (in Switzerland there's no job security) and to cut a long story short, we had to sell the house but ended up here in Brittany living the good life on one hell of a lot less money than before.

It did take us quite a few years of cutting back the spending though before we got our annual spend down to what it is but if we hadn't had savings to tide us over 3 years we'd have been stuffed.

It all worked out for the best though as we are happy here (most of the time!) living our good life which is quite different from before, and hubby works for himself and has built his business up over the last few years.

It doesn't always have to end in tears, but I do sympathise because it is very, very worrying at the time.

[Thomzo]

Having been made redundant three times I can assure you that the reality is never as bad as the anticipation. Every time I have managed to find another job within a week (but having a qualification helps there).

It's the uncertainty that's the worst thing. If you know that you are going to be out of work you can start doing something about it.

I do hope everything works out for you. But don't worry about it (easy to say but not at all easy to do). You don't have any control over what happens - but it is certainly wise to follow the advice above. Cut your spending. If the worst doesn't happen, you have a nice little nest egg for a special occasion.

Good luck

Zoe

[Wombat]

It is a worry. Our company has slowed down tremendously. I'm not particularly worried for us, we'll do OK but my concern is daughter and SIL because he works in our Newcastle site which they are mumbling about closing......

Nev