Some of you may have been in my situation, some not, but this is rather unprecedented for me.
My company called everyone in today and told us they are closing us down by the end of the year, in nearly 17 years of working (13 in this company)this is the first time, and to be honest does not come as a big shock, our line of business is printing for the flexible packaging industry, but it’s the same old speel regarding manufacturing in this country, it’s been in decline for years due to the revolutions in eastern Europe etc, it simply costs too much to manufacture in the UK, normally it would not bother me but I earn a serious amount of money for what we do, it has enabled me to pay for my fATPL CPL/IR (which I am working towards), and also I have a mortgage which equates to £1,000 per month, the worst of it is that I turned down a job offer last year of a transfer to another plant within the same company in fear of closure as they are losing and somehow sustaining losses of £300,000 per month, now it’s happening where I am now, also if I find another job I will have to take at least a £30k per year pay cut and with a mortgage & 2 small children that is not possible, there is talk of a couple of jobs going in Sydney Australia (my company are Australian), it is always a place I have wanted to live, have been there 3 times etc but I am one of these who does not like to leave the family behind etc.
I have contingency plans, I am not going to sit on my @rse and wait for things to happen, once we have got over the shock in the next week then I will start putting things in place etc, I am due to finish my fATPL CPL IR by Christmas, but at 33yrs old by then do I forget it and invest the money I have for that in our security (or am I doing that already?).
I know generally once one door closes others open, and there are positives, it is a chance for me to do something different, and for me to get off nightshift, also one of my best mates died in a car accident before Christmas so at least I am alive 🙂
Anyway, all I want to hear from people who have had it happen to them is the positives to come out of it, any success stories? anyone looked back etc?
Dean….
By: Deano - 27th February 2006 at 23:49
Thanks a million chaps. Appreciated
Basically I have been offered secondment to Sydney in Australia, I will be off sometime in the summer for a month or 2 so if I can sell myself over there whilst making sure it is the right thing for me and my family at that time then if they offer me a job I may have to go, on the down side flying opportunities in Australia are rather scarce, there are only a handful of airlines as opposed to a myriad here in the UK & Europe and having spent a small fortune already it will be a waste to let it go to the dogs as already suggested.
On the house front I think that will have to go, we were looking at buying my parents house for them and sticking them in an extention (which they are happy about) so this may have to go ahead, I can then pay £100,000 straight off the mortgage, this will enable me to undertake just about any job out there and not have to worry too much.
Greg, well done mate for doing what you did, I guess it’s always a case of needs must, same with us, lifestyle changes will have to take place, you take money for granted until something like this happens, on the plus side I am insured to the hilt so my mortgage will be paid for a year, phew !! I’ll just have to send the missus out to work nighshifts HAHA
By: A330-300 - 26th February 2006 at 21:05
I wish I could help you like you helped me with my eBay situation, but I too have no experience. Hope things get better for you, mate.
Good luck! 🙂
By: jbritchford - 26th February 2006 at 20:55
I wish i could offer some better advice, but all i can say is that my prayers are with you at this difficult time.
Best wishes.
By: landyman2 - 26th February 2006 at 18:36
my experience is this, i managed to support my family of three and a mortguage of £750pm on 24K pa (on top, and after overtime). tightening your belt may work but you dont say how much you will be left with after the drop. being in your position i would think seriously about getting the ratings and trying for a flying job, down under if need be. or as mentioned above, down grading in the property market. at 33 you are not too old to make a change. i went back to college at 33 and gained my city and guilds level 1 2 and 3 in motor vehicle repair and re-finishing. i also know how fikkle the printing industry can be. having been laid off from two printing industry companies. fine are graphics (just after christmas,) and selective printing (who restore and repair Hiedelberg printing machenery). don’t look on this as a problem, just as an opertunity for a change for the better.
all the best in whatever you decide.
Greg
By: hopefully1 - 26th February 2006 at 17:37
I would probably take the trip to OZ, with your estimated wage drop(more than i earn a year, but i’m not jealous!!!)it would appear nigh on impossible to continue current lifestyle.Take the opportunity to explore the job market down there if things don’tgo well because you have already conceeded there is nothing locally for you. As a point I have an uncle to which a similar thing happened about 10yrs ago,he moved with the company to the States and has not looked back since.
By: steve rowell - 25th February 2006 at 04:45
Come on down to the land of opportunity, the land of milk and honey, what ever you want to call it, it’s a decision you’ll never regret
By: holty - 24th February 2006 at 00:54
first instincts for me would be; take what equity you have in your current house and invest in a slightly smaller property in the area your moving to (taking into account that your family are moving with you) property prices rarely drop, they always rise after a drop and often dramatically
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February 24, 2006 at 12:38 am