Rolls-Royce To Cut 9,000 Jobs Amid Virus Crisis

[naomi24]

https://www.bbc.co.uk/news/business-52723107

And so the fallout begins.

[Deskdiary]

Mine was to Naomi, but can also apply to Zac's post.

[Ellipsis]

Probably four further jobs lost in the supply chain for every job lost at RR - a total of 45,000 jobs.

[Zacs-Master]

Deskdiary, I’m currently under threat of redundancy. I fully appreciate the implications of lockdown. Best not to assume, eh?

[Spicerack]

Not for the first time, you appear to have grabbed the wrong end of a stick, Zacs.

[Zacs-Master]

Then what does DD’s 8:33 post refer to?

[Spicerack]

Well, it doesn't refer to you.
Unlike his 10:02 post which you were, of course, replying to.
Stop digging.

[Deskdiary]

My point was, the longer this goes on the more livelihoods will be at stake.

Loss of livelihoods will mean less money for the treasury and an increase in the social welfare bill.

That’s just at a ‘basic’ level, add into the mix further ramifications such as, as ellipses stated in the case of RR, the knock-on to supply chain jobs, investors deciding to divest etc etc etc..., the list goes on and on.

I’m even boring myself now, but the economy absolutely must come first now, so I sincerely hope there’ll be news in the near future of it completely ending.

I struggle to understand why some people want it to continue, unless they are immune to its effects.

[Prudie]

"I struggle to understand why some people want it to continue, unless they are immune to its effects."
My perception, at least from on here, is exactly that. Those that feel so strongly that the lockdown must continue (and that it hasn't been strict enough anyway) are those who are retired and haven't been impacted.

[Deskdiary]

Just re-read my 4th paragraph, and it doesn't make sense...so what I meant to say was;

I’m even boring myself now, but the economy absolutely must come first, so I sincerely hope there’ll be news in the near future of lockdown completely ending.

[naomi24]

That seems to be the way in the real world too, Prudie.

[NickorWan]

The article referenced in the OP blames the pandemic for the job losses. Are some suggesting they are a result of lockdown rather than the pandemic itself?

Lockdown is a very temporary measure, hopefully, but the effect on the airline industry from the pandemic will be much longer lasting.

[jim360]

// Those that feel so strongly that the lockdown must continue (and that it hasn't been strict enough anyway) are those who are retired and haven't been impacted. //

Ho hum. Those who feel strongly that the lockdown should continue are those who are nervous about the possibility of a second wave or second peak that is comparable to or worse than the first wave. It makes absolute sense to open the country up as soon as possible, but a premature reversal of the lockdown would undo all of the work that went into the first one, and make the suffering and hardship worthless.

Continuing the lockdown too long is also clearly harmful, and it's more or less inevitable that it will be impossible to know when is "too soon". But a rush to re-open prematurely will very likely cost lives.

[Prudie]

Ho hum. I still maintain that the majority of those are retired, not everybody, including you of course. My workplace has been open the whole time with the vast majority of workers attending. Those that felt vulnerable had the option of staying away on full pay and some did but the majority have not taken that choice.

[archibaldy]

The back end of 2020 is going to be an absolute bloodbath for businesses with the effects of corona and the decreased productivity and higher costs of doing business it brings including probably taxation to pay for the government corona expenses. Add the additional costs and complexity of Brexit on supply chains and reduced customer base. Include decreased consumer spending power this is something we'll all unfortunately get very used to.

[naomi24]

//My workplace has been open the whole time with the vast majority of workers attending. //

That's the thing, isn't it. Millions have carried on working and yet now we have a situation where because perfectly capable people were forced into lockdown, businesses are going to the wall and jobs with them.

[NickorWan]

Let's not confuse those job losses with this thread though, Naomi. These jobs are going because orders for new aircraft engines are going to plummet for the next couple of years at least.

[naomi24]

The disaster isn't confined to the aircraft industry.

//Some 21,000 more UK businesses collapsed in March than the same month a year ago, the first proof of the toll coronavirus is taking on companies. //

https://www.ft.com/content/5d198135-b38f-4512-b611-9f017f76929d

[NickorWan]

Yes, the toll coronavirus is taking on companies is disastrous. I only commented as some seemed to think it was lockdown that was the main cause.

[alavahalf]

A bit of local knowledge .. the Rolls Royce factory is fairly local and I know a few people who work there.
Last Friday I was told production is down to 7 cars a day. Normal daily target 29... so down by 75% approx .

[naomi24]

//Yes, the toll coronavirus is taking on companies is disastrous. I only commented as some seemed to think it was lockdown that was the main cause.//

It would be interesting to know how many companies have gone bust and how many jobs lost in Sweden where there’s been no lockdown. Anyone know?