This sucks

[gadgetman]

Actually, appropriately enough, Canary Wharf.

That's the only downside to the proposed extension...

[AtW]

Actually, appropriately enough, Canary Wharf.

That's the only downside to the proposed extension...

Ok, they gave you extension, but this does not mean they won't give you notice in a month time, surely your contract allows them to give you very short notice? And if so this means they can renew you even if they might already be planning to sack people in 2 months.

[DimPrawn]

No evidence of any downturn in banking here. Just been offered a 6 month extension 'til June.

How long is your notice period?

[SandyDown]

Ok, they gave you extension, but this does not mean they won't give you notice in a month time, surely your contract allows them to give you very short notice? And if so this means they can renew you even if they might already be planning to sack people in 2 months.

This is the risk every contractor takes, anyone can be given notice at any time, what do you suggest reject the extension because they may or may not give him notice in 2 months

[gadgetman]

As is always the case with every contract, no?

Ok, they gave you extension, but this does not mean they won't give you notice in a month time, surely your contract allows them to give you very short notice? And if so this means they can renew you even if they might already be planning to sack people in 2 months.

[AtW]

As is always the case with every contract, no?

Yes, but the point here is that your renewal means nothing. Even though I appreciate that you think otherwise, but this is because it is your contract so you can't think strategically

[oracleslave]

Yes, but the point here is that your renewal means nothing.

Surely it means another 6 months of invoicing?

[BA to the Stars]

This is the risk every contractor takes, anyone can be given notice at any time, ....

As your original post indicates

[SandyDown]

mbriody: ignore the idiots, and congrats on your renewal.

Even at the worst market downturn there were quite a few contractors who had niche market skills who were employed through out. Companies will always need contractors, during down turn only the best and most experienced will get a contract, during the up-turn any idiot can get a contract.

[DimPrawn]

Surely it means another 6 months of invoicing?

When banks (and others) lay off contractors they don't wait for everyones contract to come to a natural end, they merely start giving notice enmasse.

So, even though they know that layoffs are round the corner, they continue to renew, right up until the week the axeman cometh.

HTH

PS. Don't take out a big mortgage on the back of your contract extension.