COVID-19 Economic impact on Jobs and Industry Sectors - the Government Scheme

Yes I know there are bloody loads of Covid-19 threads but this one is a tad important and isnt covered by any of the others.

Our FD has just been through the legislation and confirmed the governments scheme is exactly as thought - it's been designed for the hospitality sector with there being some peripheral benefit to other industry sectors.

Basically how it works is you register an employee and the government pays £2.5k a month for you to stay on the books. During that time, you can not work. You are basically on a paid holiday from the Government capped at 2.5k in the hope that your employer wont whack you.

You employer wont top your salary up to retain your skill (most likely scenario) as if they want to cut costs, they may as well just whack you if you have worked there for less than 2 years, or put you into consultation and get rid on redundancy with consultation lasting 4 weeks. Admirable though the attempt is to help business, I'd say SMEs up to 300 staff are in deep deep deep sh*t.

No-one will want to take on loans as loans have to be paid back. Credit in business is very very bad news.

I thought this thread could be useful to discuss the Government's economic measures and the response from business as well as any personal dits that may inform people.
 
Yes I know there are bloody loads of Covid-19 threads but this one is a tad important and isnt covered by any of the others.

Our FD has just been through the legislation and confirmed the governments scheme is exactly as thought - it's been designed for the hospitality sector with there being some peripheral benefit to other industry sectors.

Basically how it works is you register an employee and the government pays £2.5k a month for you to stay on the books. During that time, you can not work. You are basically on a paid holiday from the Government capped at 2.5k in the hope that your employer wont whack you.

You employer wont top your salary up to retain your skill (most likely scenario) as if they want to cut costs, they may as well just whack you if you have worked there for less than 2 years, or put you into consultation and get rid on redundancy with consultation lasting 4 weeks. Admirable though the attempt is to help business, I'd say SMEs up to 300 staff are in deep deep deep sh*t.

No-one will want to take on loans as loans have to be paid back. Credit in business is very very bad news.

I thought this thread could be useful to discuss the Government's economic measures and the response from business as well as any personal dits that may inform people.

@Simmerit

Good to see you back posting again, after your last post a couple of day ago, I thought that you may have decided to end it all

Remember that old saying "The is no such thing as a free lunch"

Archie
 
@Banker talked about this earlier on another thread.
Be interested in his views. My initial post simplifies it a bit, but broadly speaking, the scheme will need supplementing very quickly or we are off a financial cliff.
 

Joker62

ADC
Book Reviewer
1585013992636.png

An 8 week wait for the Govt scheme to be implemented by the looks of this. I can confirm that the staff found out tonight that there will be no money forthcoming from Spoons although they could probably afford to do it, thereby keeping staff loyal and coming out the other side with a whiter than white reputation. They've shot themselves in the foot here I think. I'll not use them again and I say that as an ex Spoons manager of 9 years. The above pic has been confirmed as true by a guy who trained under me and is now a manager in his own right.
 
View attachment 459200
An 8 week wait for the Govt scheme to be implemented by the looks of this. I can confirm that the staff found out tonight that there will be no money forthcoming from Spoons although they could probably afford to do it, thereby keeping staff loyal and coming out the other side with a whiter than white reputation. They've shot themselves in the foot here I think. I'll not use them again and I say that as an ex Spoons manager of 9 years. The above pic has been confirmed as true by a guy who trained under me and is now a manager in his own right.
I take it we won’t be seeing spoons boss pontificating on QT ever again then.
 

Joker62

ADC
Book Reviewer
I take it we won’t be seeing spoons boss pontificating on QT ever again then.
Possibly not, he's done himself no favours. What makes the whole day worse was the fact that the Finance Director bought a shitload of shares this morning, he knew what was going to happen.
 
@Simmerit

Good to see you back posting again, after your last post a couple of day ago, I thought that you may have decided to end it all

Remember that old saying "The is no such thing as a free lunch"

Archie
There's no such thing as a lunch that isn't paid for by someone.


However, if there's a buffet and nobody is checking your invitation or ticket, you're a fool not to fill up in the world we are in.
 
Possibly not, he's done himself no favours. What makes the whole day worse was the fact that the Finance Director bought a shitload of shares this morning, he knew what was going to happen.
And any politician who seeks his counsel should be hoofed
 
No-one will want to take on loans as loans have to be paid back. Credit in business is very very bad news.

I thought this thread could be useful to discuss the Government's economic measures and the response from business as well as any personal dits that may inform people.
100's of Zombie Companies in the UK will be kept afloat ( Whether they actually achieve anything is another story ) and when the Government hand outs end they will simply close down.

This is only delaying a massive jump in unemployment figures.
 

Joker62

ADC
Book Reviewer
Nor me in a Spoons ever again if this is true.
Definitely true, see my comment on post#7 about where I got the confirmation from, I've known the bloke I got it from for 15 years. This was his message from FB Messenger:- "It's very true mate, found out tonight around 7pm. Paid up until today so we won't even get a full month's pay this month with 4 days notice. Same for staff. All holiday cancelled even if it was booked. Completely thrown under the bus mate".
 
Spoons, no income since the 20th, no end date for the crisis & stock will go out of date

For the business to survive the staff have been binned, they may also default on paying suppliers or leases

Business is business, I assume should the staff remain on the books spoons would have to pay holidays & NI

I assume admin staff will be getting culled soon ?
 

Joker62

ADC
Book Reviewer
Spoons, no income since the 20th, no end date for the crisis & stock will go out of date

For the business to survive the staff have been binned, they may also default on paying suppliers or leases

Business is business, I assume should the staff remain on the books spoons would have to pay holidays & NI

I assume admin staff will be getting culled soon ?
I very much doubt it, Head Office staff is around 30 bods, the rest are Area Managers and General Managers who are mainly field based or work from home or a pub near to them.
 

TamH70

MIA
View attachment 459200
An 8 week wait for the Govt scheme to be implemented by the looks of this. I can confirm that the staff found out tonight that there will be no money forthcoming from Spoons although they could probably afford to do it, thereby keeping staff loyal and coming out the other side with a whiter than white reputation. They've shot themselves in the foot here I think. I'll not use them again and I say that as an ex Spoons manager of 9 years. The above pic has been confirmed as true by a guy who trained under me and is now a manager in his own right.
Well, that's not at all good news. I know a guy who works in the local 'Spoons as a chef, and by all accounts a good one, and I hate the idea of him and his colleagues getting messed around by a boss who up until he was told categorically to close his pubs was all gung-ho about staying open and his staff being valued colleagues. It doesn't help that the 'Spoons in question, "The Last Post" based in the town's former G.P.O building in County Square, is the only pub in Paisley I like going to. The staff are polite, enthusiastic, the grub is nice - see the guy I know who does the cheffing - and by coincidence lives in my block, the beer and/or cider when I can be bothered to drink it is nice, (I gave up drinking hooch in pubs to any great extent a while ago) it's clean, tidy and it's never not busy.

BTW, I just found the video referred to in the screengrab above, courtesy of Reddit, where Martin seems to be getting some backing for some weird reason. It's password-protected, but the password is in the blurb below the link for the video, courtesy of a Reddit user called ChoHyunWoo:

<-that's the Reddit page in question.

<- that's the video link.

Tim2020 <- that's the password.
 
I very much doubt it, Head Office staff is around 30 bods
if they need 30 to operate the pub they may need only 15 to operate closed pubs ?
 

Goatman

ADC
Book Reviewer

exsniffer

Old-Salt
It is the pub manager not the company who holds the license to sell alcohol. If Wetherspoons has sacked the manager they no longer have a licence to sell alcohol from that premises. Are we looking at the end of the spoons? That could lead to shortages of industrial strength cider and more deaf pigeons.
 

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