Retrenchments on the increase?

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Moederloos

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I have been hearing rumours in the market place that two of the major banks (I will withhold names for now) are laying-off staff big time.
One of them is rumoured to be letting two and sometime even 3 people "interview" for the same position, and the rest will be "let go".

Anyone able to confirm / deny this - or has anyone heard similar rumours?

What about other companies - is YOUR company looking at down sizing?
 
IT positions in SA are and will still be for a long time immune to retrenchments. Any.
 
We have moved to become a net importer, rather than producer.
One of these days our factory will be closed and we will just have a sales staff.
 
None here. Thankfully. But in economic conditions such as these, retrenchments are inevitable.
 
I work for one of the big four banks in SA and we've had nothing like that happen.
 
Skinner said:
IT positions in SA are and will still be for a long time immune to retrenchments. Any.
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I tend to agree here, IT will for the most part be immune (for now). Helpdesk/Support staff might get caught in the mess but given the lack of skills most companies cannot afford to lay off IT staff....yet.
 
alchamy said:
I tend to agree here, IT will for the most part be immune (for now). Helpdesk/Support staff might get caught in the mess but given the lack of skills most companies cannot afford to lay off IT staff....yet.
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In SME's, many which are struggling, if the doors shut, out goes the IT guy. Immunity might be reserved for big corporates only.
 
I work in a specialist position for one of the big 4 banks. With the credit act, fall off of home loan and vehicle finance due to economy, profits will not be up to scratch. The first thing that they will look at is cost cutting. Yeterday they had a meeting to discuss my position countrywide and the talk is that our positions will be done away with. Then 2 choices, retrenchment or redeployment into a position where they are short of staff. Will know my Monday. I am already making plans.
 
Toffee said:
I work in a specialist position for one of the big 4 banks. With the credit act, fall off of home loan and vehicle finance due to economy, profits will not be up to scratch. The first thing that they will look at is cost cutting. Yeterday they had a meeting to discuss my position countrywide and the talk is that our positions will be done away with. Then 2 choices, retrenchment or redeployment into a position where they are short of staff. Will know my Monday. I am already making plans.
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May I ask what area you are in? A broad category is fine. (IT / Finance / Sales etc.)
 
In the US the big banks are dumping staff, was in the newspaper last night.
 
Just heard about a firm of attorneys retrenching staff big time. Not good news at all. :eek::eek::eek:
 
Moederloos said:
I have been hearing rumours in the market place that two of the major banks (I will withhold names for now) are laying-off staff big time.
One of them is rumoured to be letting two and sometime even 3 people "interview" for the same position, and the rest will be "let go".

Anyone able to confirm / deny this - or has anyone heard similar rumours?

What about other companies - is YOUR company looking at down sizing?
Click to expand...

The country will be completely useless to live in/to work in in about 2-3 years from now.
 
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