Redundancies

[~ True Legend ~]

So many lay-offs have happened lately, especially in Big Tech as we all know - Meta, Google, Twitter. And we all know that Twitter is badly affected.

Is your employer making redundancies? How are you affected?

LATEST NEWS:

Accounting giant Ernst & Young is cutting 3,000 jobs in the US, citing "overcapacity" in parts of the company.

EY cuts 3,000 jobs in US blaming 'overcapacity'

The decision comes days after the firm called off a radical restructuring.

www.bbc.com

The announcement comes days after the firm called off plans to break up its auditing and consulting divisions.

EY said the decision was unrelated to that review, but was "part of the ongoing management of the business".

The cuts affect about 5% of its US workforce, London-based EY said, promising "comprehensive support" to those affected.

EY said it had made its cuts "after assessing the impact of current economic conditions, strong employee retention rates and overcapacity in parts of our firm".

The move comes as corporate America is bracing for an economic downturn.

Rival KPMG has also reportedly announced job cuts in the US, while Accenture and McKinsey are among the big names to have announced redundancies in recent months.

Accenture is slashing 19,000 jobs or roughly 2.5% of staff globally, while McKinsey is reportedly cutting about 1,400 roles or 3% of its employees.

The Financial Times, which first reported the EY cuts, said they primarily affected the consulting side of the business.

The newspaper has also reported that cost cuts are being planned in the UK as a result of the failure of the breakup plan.

EY, one of the four big players that dominate the accounting industry, had proposed the split as a way to address scrutiny from regulators about conflicts of interest between the audit and consulting arms.

But the plan was scuttled after US teams raised objections over how to structure the breakup.

Rosanna Lander, the firm's UK head of public relations, said Monday's announcement was "specific" to EY in the US: "There are no similar plans in the UK," she said.

 

[Stardom22]

For me I am not employed in the formal sector. I am a self employed kind of a young man that cannot be affected by the redundancy in any way.

 

[~ True Legend ~]

For me I am not employed in the formal sector. I am a self employed kind of a young man that cannot be affected by the redundancy in any way.

That's great
Of course there are downsides too, like a lack of benefits such as paid holidays. And there may be times when you don't have work. How do you feel about that?

 

[Stardom22]

That's what you outlined are the major challenges of the self employment especially in the informal sector. It's very sad actually to see that you have to work even when you fell sick for you to bring some food on the table.

 

[~ True Legend ~]

That's what you outlined are the major challenges of the self employment especially in the informal sector. It's very sad actually to see that you have to work even when you fell sick for you to bring some food on the table.

I wasn't aware that you can't claim sick pay! It must be really frustrating for you
Are you based in the UK too?

 

[Heatman]

You should add Google, PayPal, Microsoft, Amazon, Coinbase, Lyft and Stripe. Mostly, it's the tech companies that had its staff affected the most.

 

[~ True Legend ~]

You should add Google, PayPal, Microsoft, Amazon, Coinbase, Lyft and Stripe. Mostly, it's the tech companies that had its staff affected the most.

Yeah, they overdid the hiring over the pandemic, assuming things would remain the same

I DID include google though

 

[Stardom22]

I wasn't aware that you can't claim sick pay! It must be really frustrating for you
Are you based in the UK too?

I am coming from Kenya my friend.

 

[Shortie]

I am self-employed and work from home at the moment by choice and my two main reasons for that are

1. So that I can be there for my kids being a single mum at the moment but in a long-distance relationship right now
2. Due to health issues that have arisen through the years that make it difficult for me to head out to work.

Being self-employed means I don't have to worry about redundancies but I do have to worry about other things such as making sure I get work in, making sure I complete work in a timely manner and at a standard people require so that I do not lose business.

 

[~ True Legend ~]

I am self-employed and work from home at the moment by choice and my two main reasons for that are

1. So that I can be there for my kids being a single mum at the moment but in a long-distance relationship right now
2. Due to health issues that have arisen through the years that make it difficult for me to head out to work.

Being self-employed means I don't have to worry about redundancies but I do have to worry about other things such as making sure I get work in, making sure I complete work in a timely manner and at a standard people require so that I do not lose business.

How is it to be self-employed? Constantly having to find new clients, no benefits like sick pay, annual leave, etc?

 

[Stardom22]

I think there is always two sides of the coin in every situation. The self employment to me however gives me the flexibility of working from home and abled Me to manage myself unlike the employment whereby one has to commute, work under conditions and sometimes with the supervision from the bosses. This can give me unlimited time with my family and cause more inconvenience with my life.

 

[~ True Legend ~]

I think there is always two sides of the coin in every situation. The self employment to me however gives me the flexibility of working from home and abled Me to manage myself unlike the employment whereby one has to commute, work under conditions and sometimes with the supervision from the bosses. This can give me unlimited time with my family and cause more inconvenience with my life.

Thanks for sharing! I work from home and am employed in a salaried position. You don’t have to be self-employed to work from home. Just sayin’

 

[Shortie]

How is it to be self-employed? Constantly having to find new clients, no benefits like sick pay, annual leave, etc?

I enjoy working from home as I am able to take time off if needed and work out my own work hours which really does help with me being there for my family and also with my health as well.

Finding new clients isn't always difficult as many of them find me due to where I advertise my services and I also have solid employment as well from people which I do from home as well.

In terms of sick pay, it doesn't affect me too much as I am able to work around that if I do fall sick, and if it is pretty serious, I can do what others do as well and get a fit note from my doctor and I can go on sick if it's necessary but I avoid that as I would much rather work if I can.

 

[~ True Legend ~]

I enjoy working from home as I am able to take time off if needed and work out my own work hours which really does help with me being there for my family and also with my health as well.

That's great Unfortunately I don't have flexible hours, but I am grateful that I can work from home

Finding new clients isn't always difficult as many of them find me due to where I advertise my services and I also have solid employment as well from people which I do from home as well.

That's good to hear
Is it okay to ask what exactly you do for a living?

In terms of sick pay, it doesn't affect me too much as I am able to work around that if I do fall sick, and if it is pretty serious, I can do what others do as well and get a fit note from my doctor and I can go on sick if it's necessary but I avoid that as I would much rather work if I can.

Yeah, employment pays much better than sick pay in general

 

[Stardom22]

I think most people including me, have opted to work for the online jobs because we don't have the regular jobs in the offline space. I really know that the regular offline jobs have much more benefits than the online work we do.
This is due to the lack of employment opportunities in our country.

 

[~ True Legend ~]

I think most people including me, have opted to work for the online jobs because we don't have the regular jobs in the offline space. I really know that the regular offline jobs have much more benefits than the online work we do.
This is due to the lack of employment opportunities in our country.

You don’t have regular jobs in the offline space, please clarify what you mean, sorry?

 

[~ True Legend ~]

Supermarket chain Asda is considering whether to cut the pay of 7,000 staff in the south east of England to bring it in line with its other stores.

Asda consults on cutting pay for 7,000 workers

The supermarket chain says it is consulting on whether higher pay for some employees "makes sense".

www.bbc.co.uk

A spokesperson said all Asda staff had recently been given a 10% pay rise to help with soaring inflation.

The GMB union said Asda was set to fire workers who refused to agree to the new conditions.

The union said the workers were already low-paid, and that planning to reduce pay during a cost-of-living crisis was "inexcusable".

The workers get a so-called "location supplement" of 60p per hour, which Asda may scrap, and a night supplement that it wants to reduce, the GMB said.

It added that those who do not agree to the pay reduction "could be dismissed if they refuse to sign" the new contract.

The consultation is happening at the moment, and Asda plans to bring in the changes in November, the union said.