media blown it out of proportion. For the last few months, most people who wanted to leave would have been offered redundancy. Nobody in the office today seemed worried (although I no longer work for BT, I am still based in a BT building).
TB's absolutely right. The reason why this is as "bad" as it is, and perhaps why it will be as "terrible" as suggested is purely down to the media...and dopes like Mervyn King.
The more you drone on about the recession and the possible depression, so your words become a self-fulfilling prophecy as more people start worrying about the future and rein in their spending. Thus businesses make less money, people get laid off, and so less people have wages, more headlines hit the papers, and so spending then contracts further, and so on.
From an economic science point of view, the way out of the recession is easy. Just increase the velocity of money in the system (i.e. get people/companies to spend again). Unfortunately, despite the science, humans are like sheep and will follow each other round in circles. The BBC, and other media, meanwhile will continue to spout out the doom stories.
This whole "crisis" is emotional. Until people in the government and media start talking things up again, it can only get worse.
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Topic: !0.000 Jobs to go at BT!! (Read 1298 times)