To say we are going through a recession is an understatement. Well, it seems this way to me. The amount of close friends and friend of friends, who have been affected by the current financial climate, leading them to be made redundant, is a joke. Two girlfriends, one working for a well known retailer as a menswear buyer, the other working as an event manager for a disability charity; redundant. A young male (who my other half mentors), redundant. My sister-in-law (to be… let me not get ahead of myself) friend’s husband; redundant. We could be here for a while, I mean, there’s probably another five or six if I think about it. As someone who is self employed, I’m glad to say it hasn’t affected me and I hope it stays that way as the spreading of this ‘dreaded infection’ doesn’t appear to be slowing down.
The latest cut in interest rates comes amid further signs that some firms are continuing to struggle. I mean, my Mum is going to get a shock when she returns from her 3 month holiday to find Woolworths no longer exists… her shock will probably then turn into annoyance, when she realises she missed out on their closing down sales. (She loves to bag a bargain, even if it is just Woolies).
Yesterday, Nissan announced it is cutting 1,200 jobs, or a quarter of the workforce, at its Sunderland factory due to falling sales and the administrators of music, games and DVD chain Zavvi have closed 22 of the firm's stores with immediate effect, at a cost of 178 jobs. (I bet Richard Branson is glad he passed it on to his friend, eh? Not that it would even make a dent in his zillions). However, not all companies are struggling. Sainsbury's has reported its "best ever Christmas performance", saying sales rose 4.5% in the 13 weeks to 3 January compared with a year earlier. Can’t say I’m surprised… Sainsbury’s are thief’ (said the ‘street’ way). It’s all about Asda and Lidl (for orange and apple juice) thanks.
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