Any one feeling the pinch ?

[HankWangford]

I am 50 and until recently spent a year in the City of London working for a large insurance company.

I think it's all about attitude and a willingness to learn.

all is well it seems, with rates like this I think we have gone beyond the pinch

http://www.jobserve.com/W7DE1C200AB4F8EEE.job

[Moscow Mule]

Not to discourage you.. but the grim fact is that... UBS predicted 3rd quarter losses and job cuts incuding its CEO and CFO.

http://marketplace.publicradio.org/d...rt_by_subprime

With big shots leaving , where is the oppurtunity for a short term employees like contractors...

i believe same is the situation in other IBs...

I've spoken to a couple of folks at places I used to work and there is no freeze on recruitment of permie or contract staff.

I think this is very much related to exposure to sub-prime lending, UBS being the worst end, Goldman Sachs being the best end and all stops in between.

I'm not worried yet.

[bobhope]

What you should be concerned about is that the peak of the sub-prime resets hits Q4 2007 / Q1 2008, so we may not have seen anything yet.

[Devlin]

If you don't mind - what type of work do you do? Any reason provided by the IB?

J2EE/Java Design/Dev. The reason is that the bank is laying off perm jobs and has now frozen contractor recruitment pending a probable re-org.

[backlight]

J2EE/Java Design/Dev. The reason is that the bank is laying off perm jobs and has now frozen contractor recruitment pending a probable re-org.

That's a tough go. Hope you find something soon. You may not want to burn your bridges but if the contract had a 2 week termination clause you may be able to invoice based on the lack of notice.

[Devlin]

That's a tough go. Hope you find something soon. You may not want to burn your bridges but if the contract had a 2 week termination clause you may be able to invoice based on the lack of notice.

Cheers.

I looked into it already, as it was a very IR35 friendly (through agent) contract it had a clause saying they could terminate with no notice in the event that their client terminated. Fair enough really, but obviously disappointing for me.

[Andy2]

I am looking for a contract as Oracle DBA . Lots of response and cv forwarding ,but no company is yet taking any decision to take it further. Its pretty bad.

[Moscow Mule]

I am looking for a contract as Oracle DBA . Lots of response and cv forwarding ,but no company is yet taking any decision to take it further. Its pretty bad.

That just because everybody has seen the light and is moving to DB2.