The Big Banks Layoffs begin

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oliverson replied

17 January 2023, 17:22
Originally posted by jamesbrown View Post

Yes, but you're working for a US client and US rates are much higher than UK rates (and the FX doesn't hurt either).

Yeah, got very lucky on this one. I don't miss the £ 30k per annum my company would blow on London property rental/share, travel, etc. Current situation means I put that 17 months on the bench well and truly behind while hammering the BBL.
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jamesbrown replied

17 January 2023, 11:19
Originally posted by oliverson View Post

That's me and I'm getting it!!

Yes, but you're working for a US client and US rates are much higher than UK rates (and the FX doesn't hurt either).
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oliverson replied

17 January 2023, 10:59
Originally posted by TheDude View Post

It's good news for those living within an easy commute and able to command high rates.

Not so good for those that expect London money in rural Yorkshire

That's me and I'm getting it!!
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PCTNN replied

13 January 2023, 15:09
Originally posted by TheDude View Post

It's good news for those living within an easy commute and able to command high rates.

Not so good for those that expect London money in rural Yorkshire

it's always going to be a demand and supply situation.

If clients won't find enough contractors in London, they'll be just fine with you working from rural Yorkshire.
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eek replied

13 January 2023, 13:24
Originally posted by TheDude View Post

It's good news for those living within an easy commute and able to command high rates.

Not so good for those that expect London money in rural Yorkshire

Yep - unless the end client is willing to accept 100% remote contractors - for inside IR35 contracts they are left working with just the local talent pool.

And that may or may not be a problem depending on the end client's location
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TheDude replied

13 January 2023, 13:13
Originally posted by mogga71 View Post

Goldman Sachs to cull 3,200 jobs as part of cost cutting exercise with UK workers to be hit

https://news.sky.com/story/goldman-s...e-hit-12783909

All of the Banks will very likely follow.

This will probably end up being good news for contractors as when this has happened at my gigs in the past the contractors often stay and have openings for them.

I worked for Goldman and they regularly lay off poor performers this time of year however not 3200 of them.

I doubt contractor heavy divisions such as technology will be hit that hard.

Last edited by TheDude; 13 January 2023, 13:15.
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TheDude replied

13 January 2023, 13:12
Originally posted by northernladuk View Post

More London centric inside IR35 gigs isn't good news for contractors.

It's good news for those living within an easy commute and able to command high rates.

Not so good for those that expect London money in rural Yorkshire
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oliverson replied

13 January 2023, 10:20
Originally posted by mogga71 View Post

Goldman Sachs to cull 3,200 jobs as part of cost cutting exercise with UK workers to be hit

https://news.sky.com/story/goldman-s...e-hit-12783909

All of the Banks will very likely follow.

This will probably end up being good news for contractors as when this has happened at my gigs in the past the contractors often stay and have openings for them.

Should they accept the obligatory rate cut.

So glad I don't work in that sector anymore.
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mogga71 replied

13 January 2023, 09:51
Originally posted by northernladuk View Post

More London centric inside IR35 gigs isn't good news for contractors.

Well good chance it means we can work from home every day, get a decent rate AND don't have to worry about related MSCP investigations.
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northernladuk replied

13 January 2023, 01:11
More London centric inside IR35 gigs isn't good news for contractors.
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mogga71 started a topic The Big Banks Layoffs begin

12 January 2023, 17:18
The Big Banks Layoffs begin

Goldman Sachs to cull 3,200 jobs as part of cost cutting exercise with UK workers to be hit

https://news.sky.com/story/goldman-s...e-hit-12783909

All of the Banks will very likely follow.

This will probably end up being good news for contractors as when this has happened at my gigs in the past the contractors often stay and have openings for them.
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