Doom and Gloom big time

**Lucifer Box** · 12 July 2006, 11:21

We're gloomed...

**mcquiggd** · 12 July 2006, 11:47

It's already started...

http://news.independent.co.uk/busine...cle1173281.ece

"
The world's largest reinsurer, Swiss Re, unveiled plans to axe 2,000 jobs yesterday, hundreds of which are set to be lost from its iconic London offices in Sir Norman Foster's gherkin.

The latest round of cuts, which will be made over the next four months, comes only weeks after the company axed 250 of its senior managers. An announcement from the group yesterday gave no explanation for the cuts, other than claiming that they would "capture ... efficiency gains" and secure the company's competitiveness.
"

**Mailman** · 12 July 2006, 12:51

Originally posted by zeitghost

We're doomed...

You should be edgy...everyone knows its contractors that go first!

Mailman

**DaveB** · 12 July 2006, 12:54

Originally posted by Mailman

You should be edgy...everyone knows its contractors that go first!

Mailman

COntractors go first, then the permies then the contractors come back to cover for the permies the found they couldn't do without

**The Lone Gunman** · 12 July 2006, 12:58

Originally posted by Mailman

You should be edgy...everyone knows its contractors that go first!

Mailman

It is by choice mate. Get out, liquidate assets, sit on 3rd world beach waiting for permiedom and house market collapse. Buy as much property as we can. Property prices pick up seen as economic indicator then the market picks up.

**AlfredJPruffock** · 12 July 2006, 13:44

Originally posted by Mailman

You should be edgy...everyone knows its contractors that go first!

Mailman

Aye MM

Generally speaking this is correct, however I have worked on sites before when the perms went first due to the setup of the contractor budget, also its less costly to lay off UK perm workers than their continental counterparts.

**Lucifer Box** · 12 July 2006, 13:55

I was at a well known mobile telco for a while where the permies were laid off first. The permies were paid out of operational expenditure but the contractors out of capital expenditure - a crucial difference for any department desperate to balance the budget.

**hyperD** · 12 July 2006, 14:55

Indeed Lucifer, I worked many years ago at a well known car manufacturer that was contractor top-heavy for that very reason.

Doom and Gloom big time