Holy shit this is going to get bad
 

Unemployment over here in the UK is already soaring now its going to get even worse 10,000 Jobs to go at BT :(


http://latestnews.virginmedia.com/ne...usands_of_jobs

Thousands more job cuts have been announced as unemployment levels continued to soar.

Telecoms giant BT dealt the biggest blow of all, revealing that it was axing 10,000 jobs, mainly among workers and sub-contractors.

The company said it had already cut 4,000 jobs as part of an ongoing efficiency programme which will mainly affect BT's indirect labour force such as agency workers, contractors and offshore staff. A further 6,000 jobs will go between now and March.

BT chief executive Ian Livingston said 7,000 workers left the firm every year so he did not envisage any compulsory redundancies in the latest round of cuts, which will affect head office functions, support staff and customer services.

Asked how long he thought the current economic downturn would last, Mr Livingston replied: "It will get worse before it gets better."

Financial services group Friends Provident announced it was axing 280 posts. Workers' union United claimed the cuts would come at the business's Manchester office and would result in the closure of the firm's main building in the city.

Truck-maker Leyland plans to axe almost 250 jobs and have an extended shutdown at its factory over Christmas because of "severe decline" in demand.

And there was a further blow to the economy after construction equipment firm JCB announced it was to shed almost 400 jobs.

The announcement comes after thousands of JCB workers last month voted to accept a £50-a-week pay cut in a bid to ward off job cuts.

Newspaper group Trinity Mirror also confirmed that it had axed 28 local titles so far this year and "could not rule out" more staff cuts as it upped 2008 cost-cutting plans by £5million.

Dayum!

They're coming after halfpint!!

US numbers released this morning were super fucked up too - worst since Q4 2001

lol.. The only people coming after me will be the ones in white coats..My misses drove me mad 10 years ago

yeah... it is going downhill... will keep going down for a year or two from now on!

I feel sorry for the guys and girls loosing jobs. It aint funny when they have mortgages and a family to keep and finding another job wont be as easy as it used to be.

the whole world will probably only recover in 2011

latest news stats, UK is losing about 1k jobs a day and in the US 516,000 people filed for unemployment benefits last week. Horrible timing with the Holidays.

That fucking Obama..:321GFY

The other thing that tends to happen with high unemployment is the crime rate goes up to

lets wait and see guys :)

Saw this on the news today, very grim for us...

SO who is getting rich off this?

And how?

Glad I sold up and got the fuck out this year. Sweet!

nice where did you move to ?

more grim news

http://latestnews.virginmedia.com/ne...top_18_million

Unemployment reached an 11-year high when another huge increase in the numbers
looking for work edged the total closer to the two million mark.

Official figures for the three months to September showed that 1.82 million people were out of work, an increase of 140,000 from the previous quarter.

It was the highest figure since the end of 1997 and confirmed the fears of unions and analysts that the politically-sensitive two million mark would soon be breached.

The number of people claiming jobseekers allowance rose by 36,500 last month to 980,900, the highest figure since the spring of 2001 and the worst monthly increase since 1992.

The so-called claimant count has now increased for nine months in a row and is 154,800 higher than a year ago.

The number of people in work fell by 99,000 to 29.4 million and vacancies were down by 40,000 to 589,000, according to the Office for National Statistics.

The grim figures do not take into account recent job loss announcements, including news of more than 5,000 cuts on Tuesday by firms including Virgin Media, Yell, Taylor Wimpey and GlaxoSmithKline.

The unemployment rate is now 5.8%, the highest since early 2000, while the number of people looking for work has jumped by 182,000 over the past year.

The number of unemployed men was 1.07 million, up 85,000 over the latest quarter, while 55,000 more women joined the ranks of the unemployed, up to 750,000. Unemployment among 18 to 24-year-olds increased by 53,000 to 579,000, the highest figure since 1995.

Long term unemployment has also increased, with the numbers out of work for longer than a year up by 20,000 to 435,000.

Dont know if anyone has heard but DHL is going out of business in the US. They will no long do DOMESTIC shipments after Jan09. 8000 jobs lost as of monday in one state and since jun08 they have not serviced Montana at all. So, all I can really say is this:

if you have a job better hold on tight and you better start saving every penny that you can.

You mean the courier company DHL If that is the company you are on about that is bad news for DHL over here in the UK to :Oh crap

Yes talking about the carrier company. Bad news for DHL but maybe good news for UPS and FEDEX.

Wow thats just crazy DHL are pretty popular over here. Wonder if this will affect the UK DHL

it's only US domestic delivery, they will still deliver packages sent from the EU to ur house or business in the united states.

even more job cuts :(

http://latestnews.virginmedia.com/ne...0_banking_jobs

Britain is facing more jobs misery over plans by Royal Bank of Scotland to axe about 3,000 staff.

The bank, which is in line for a £20 billion taxpayer handout to help shore up its finances, is understood to be cutting the posts from its global banking and markets workforce over the coming weeks.

The bank's workforce is spread across 50 countries, with a major base in the City of London, and has been the area of the group hardest hit by the credit crunch.

A spokeswoman for RBS declined to comment in detail about the job cuts.

But she said: "We constantly review our operating model to make sure that it is appropriate to the market condition, and take action accordingly."

RBS has about 170,000 staff in total, of which about 100,000 are in the UK.

Earlier this month the group's new chief executive, Stephen Hester, signalled a round of cost cuts in the wake of the bank's rescue package from the Government. "Costs are one of the things we need to look at," he said.

Thursday saw more than 10,000 job losses announced by some of the UK's biggest companies, as evidence mounted that the economic downturn was tightening its grip on the jobs market.

BT said it was axing 10,000 posts and financial services group Friends Provident said it was shedding 280 jobs.

the canadian business pages could drive one to suicide.

I bet they could

I hate to say it... but my country may be getting what it deserves. The rest of the world will suffer because of the global nature of the economy.

The "obama will save us" delusion is just that... a delusion. Too little, too late voters.

In Cyprus at the moment, but will be travelling about a bit over the next year or 2...:thumbsup

it doesn't matter to me if the economy crumbles or the world is fucked, I'll make do