Job Losses

[jingo]

More job losses announced today at Holden in SA and Vic. This comes on top of news of the Shell Refinery in Geelong being put up for sale, most probably resulting in job losses for around 450 people.

http://www.adelaidenow.com.au/news/...torian-plants/comments-e6frea83-1226614971545

Just wondering what the implications of these job losses will be on the wider economy in Vic and SA?

Will workers be able to find other jobs (possibly in mining in other states) or within other sectors in their local communities?

It seems that the manufacturing sector is dying a slow but certain death in our country.

Regards Jason.

 

[sanj]

Will workers be able to find other jobs (possibly in mining in other states) or within other sectors in their local communities?

to put it simply, yes they will. whether they do or not is another matter.

 

[Corey Batt]

The Edinburgh Parks precinct has for years taken in the hemorrhaging numbers of Holdens staff taking redundancy packages.

It has been quite the thing to take a 60-100k pay out as a basic worker, then walk into a new job the next week for same pay 5 minutes down the road. Pay off the house, get a new car on the employee discount while you can.

Livin' the dream.

 

[mattnz]

A friend of mine is having to liquidate his manufacturing business and will lose his house. Tough environment.

 

[BayView]

to put it simply, yes they will. whether they do or not is another matter.

Absolutely;

Doncha know; the Gubbmint said they've created 70,000 new jobs!!

A friend of mine is having to liquidate his manufacturing business and will lose his house. Tough environment.

The reps in the automotive industry tell of widespread similar stories...not manufacturing though; retail and service etc.

 

[weg]

I feel sorry for the business owners.

An employee can up and move into a new job after redundancy, no different to anyone leaving to move into another job.

More often than not they've put their hand up to a redundancy to get a payout like CJay mentioned.

In fact only the other day a Solver employee told me 10 of their 50 manufacturing staff in SA had to go, but all were voluntary, over 55 and took an average payout of 100K.

Not so with business owners (not talking about sole traders or small business that operates from home or similar) who have usually folded or decided to cease trading but have a big debt to carry as a result.

I personally know 2 that have lost significant personal wealth as a result of the slowdown and money owning to them they couldn't recover.

Perth may be going great guns but not so every other place.