State of the Market

[Highland]

Yep. I *was* in the middle of retreating to permiedom. Package agreed, contract signed, they are just doing the references, etc.

But it's a big plc and their share price is currently tanking. Just waiting for them to pull the plug tbqh

I'm a couple of weeks back from you.

Left perm to start contracting about 6wks ago (would've left the perm role anyway and the contract happened to be nicely timed), client dragging heels re. issuing SDS (was assured outside before joining , I'll take that one on the chin), recently been approached to head back to perm on what would be 90% of my contract rate (exc. hols) which works for me in these somewhat turbulent times..... just waiting for that to fall through and current client to say "you're inside you buffoon" or "we've no more work for you".

Even if I continue for a couple more weeks in the contract and then leave before 6th April (if inside or if still no SDS) I've got enough set aside for a year or so... after that it's back to the hills to live off the land and in a tent.

[hungry_hog]

Lloyd’s buddy just called me up, Lloyd’s are letting go 50% of his team (his team made up entirely of contractors that turned permie 4 short weeks ago) as on probation period they just get 1 weeks pay

Let the permie kulls begin

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1 - very silly move for Lloyds to make them permie
2 - not sure it was wise for them to accept that offer IR35 wise
3 - Assuming this is LBG, not Lloyds of London, Lloyds management in my experience have the brains of a Love Island contestant, but unfortunately not the looks

[eek]

1 - very silly move for Lloyds to make them permie
2 - not sure it was wise for them to accept that offer IR35 wise
3 - Assuming this is LBG, not Lloyds of London, Lloyds management in my experience have the brains of a Love Island contestant, but unfortunately not the looks

2 months ago making them go permie was the same choice.

things have changed since in a way no one was going to expect at the time...

[Andy2]

If the global run on the financial markets continues there is not going to be much of an economy left & no-one right now knows where its heading or what is going to happen next!

we are staring at a global recession.
I am joining the bench from friday. its going to be a long time on the bench.

[uk contractor]

we are staring at a global recession.
I am joining the bench from friday. its going to be a long time on the bench.

Sadly I agree I think its going to last a long time as well this evening the US markets dropped over 12% so tomorrow morning London will respond with another 7-8% at the open. US Stock futures are also around 11% down right now. So within 24 hours the markets will have shed 25-30% which means terrible news for many IT workers as the number of companies who will layoff staff suddenly will nosedive drastically!!

[boxingbantz]

Sp pleased I decided to take my permie job two months ago with what is going on.

This is going to take years to recover from.

[Highland]

Sadly I agree I think its going to last a long time as well this evening the US markets dropped over 12% so tomorrow morning London will respond with another 7-8% at the open. US Stock futures are also around 11% down right now. So within 24 hours the markets will have shed 25-30% which means terrible news for many IT workers as the number of companies who will layoff staff suddenly will nosedive drastically!!

US futures are 11% down? Where?

[GhostofTarbera]

US futures are 11% down? Where?

???

I think that was yesterday

200 up at the moment


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[Highland]

Sp pleased I decided to take my permie job two months ago with what is going on.

This is going to take years to recover from.

Perms get sacked too.

[eek]

Perms get sacked too.

anyone who hasn’t been there 2 years is going to be at risk at the moment