How worried are you?

[ziggy]

Been on the bench for 2+ months, can survive for quite awhile but this would mean digging into savings that I don't really want too e.g. ISA.

Nothing much around ... not had even one interview.

Wouldn't say I was frightened ... trying to get loads of DIY jobs done whilst waiting for something to come up ...

ke sera sera ...

[NotAllThere]

I feel positive, but it could be because I'm delusional.

[PM-Junkie]

You would have thought, wouldn't you, that the best people to take on initially are contractors, since they can be got rid of easily at short notice, if things turn bad again? There again, the same arguments actually apply to permies..

Normally yes - but this time round traditional funding has dried up as well as income from operating activities - so budgets have either been frozen or slashed.

My suspicion is that when things do turn, it will go crazy. A lot of the work that has been shelved isn't just going to go away - it will still need to be done, and I know from experience that companies are beginning to discuss not wanting to miss the boat when things do turn round. If they are behind the curve, they'll miss the better talent that's out there. The problem is that nobody wants to jump first and there is still bad economic news to come.

[snaw]

Normally yes - but this time round traditional funding has dried up as well as income from operating activities - so budgets have either been frozen or slashed.

My suspicion is that when things do turn, it will go crazy. A lot of the work that has been shelved isn't just going to go away - it will still need to be done, and I know from experience that companies are beginning to discuss not wanting to miss the boat when things do turn round. If they are behind the curve, they'll miss the better talent that's out there. The problem is that nobody wants to jump first and there is still bad economic news to come.

Tell you what - when it does come, there's a lot of bad blood that'll come home to haunt a lot of companies.

How many people, contract and permie, feel like they're getting shafted right now - especially by companies that aren't really affected by the downturn?

When the job market picks up expect a lot of people to jump ship with a big FU to the employer that squeezed them.

[swamp]

Tell you what - when it does come, there's a lot of bad blood that'll come home to haunt a lot of companies.

How many people, contract and permie, feel like they're getting shafted right now - especially by companies that aren't really affected by the downturn?

When the job market picks up expect a lot of people to jump ship with a big FU to the employer that squeezed them.

Hardly the right attitude for a contractor. I'd be quite happy to contract (on a decent rate) for say, BT or IBM after they have shafted other contractors. I could not GAF.

OTOH some permies in law firms for instance have been badly dealt with. These firms make a very big song and dance about company loyalty, and will look a bit sheepish if there is a sudden upturn in business.

[SallyAnne]

Hardly the right attitude for a contractor. I'd be quite happy to contract (on a decent rate) for say, BT or IBM after they have shafted other contractors. I could not GAF.

OTOH some permies in law firms for instance have been badly dealt with. These firms make a very big song and dance about company loyalty, and will look a bit sheepish if there is a sudden upturn in business.

I'm actually more annoyed by your use of abbreviations than I am at any companies out there.

FYI.

[Hawkeye]

Hardly the right attitude for a contractor. I'd be quite happy to contract (on a decent rate) for say, BT or IBM after they have shafted other contractors. I could not GAF.

OTOH some permies in law firms for instance have been badly dealt with. These firms make a very big song and dance about company loyalty, and will look a bit sheepish if there is a sudden upturn in business.

It might not be the right attitude but is it correct to send contractors letters threatening them to sign their newly cut rate or they will be fired?

It is not exactly the best way to deal with staff whether they are contractors or not. At the end of the day it will affect motivation and will leave a bad taste in the mouth of those that work extremely hard for the companies that they provide a service for.

[snaw]

Hardly the right attitude for a contractor. I'd be quite happy to contract (on a decent rate) for say, BT or IBM after they have shafted other contractors. I could not GAF.

OTOH some permies in law firms for instance have been badly dealt with. These firms make a very big song and dance about company loyalty, and will look a bit sheepish if there is a sudden upturn in business.

May well not be, but it's still the truth - quite a lot of aggreived people out there who've had take it or GTF calls on their rates. Right now companies, whether they need to or not, are screwing their staff for all they can get, I understand where that comes from but I equally understand the reaction, when it comes, that will inevitably come.

Although re-reading what you've written, I htink you've got my point all wrong. I'm talking about people in existing contracts - sure people will take those jobs, but people wil also leave en masse given the right opportunities is my point.

[Not So Wise]

Feel "ok" about but that’s mainly because I snagged a contract in 4th quarter last year that barring the unlikely/unexpected should see me though the entire thing (though took a rate cut for it), which is good because personal circumstances (bloody women ) decimated my war chest at the start of last year.

Now at least got something to see me though the downturn and getting my tulip together so that by time upturn comes I should be in a 10 times better position than I have been in the last 12 years

If did not have this contract would probably be terrified as last crash (01/02) hit me badly and going though that twice in a decade would just be to much

Although re-reading what you've written, I htink you've got my point all wrong. I'm talking about people in existing contracts - sure people will take those jobs, but people wil also leave en masse given the right opportunities is my point.

*Does not know a single working contractor that is not waiting for the up-turn so they can jump ship*

[BlasterBates]

I think that is important ASAP to FAB. I mean SOB is all very well, but in the end we all "NTW".