Vehicle manufacturer employees to feel credit crunch fallout next?

Vehicle manufacturer employees to feel credit crunch fallout next?

Not surprisingly, Car sales have been on the slide for a number of months now as consumers have had to batten down the hatches. However, the news this morning that Ford’s commercial van plant in Southampton is moving to a four day week from next week shows how the crunch is now biting into the general business community. Apparently, sales of white vans have slowed considerably since August, and managers expect to produce roughly half of the 75, 000 units made annually, in the coming year. No redundancies have been talked about yet at Fords in Southampton, but shorter working weeks for employees will put additional pressure on family finances in the area, where job cuts and short time are beginning to affect workers in other sectors.
Governments and central banks may be doing their level best to sort out and stabilise the banking sector at the present time, but the fallout from this crisis will take its toll on other business sectors for the next 18 to 24 months I believe.

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource