New Year job fears

2009 could start with multiple job losses, according to a cabinet minister.

27,000 Woolworth staff already know they will be losing their jobs, and a further 1,400 from MFI have now seen their employer go out of business. And the outlook for others is not good.

As The Independent reports, a cabinet member said “We know there will be a bloodbath of job cuts in January and February. A lot of companies are holding back until after Christmas.”

“In general,” said a debt management expert for Gregory Pennington, “the worse the economic outlook, the more dangerous it is to carry debts. We would advise anyone in debt to seek debt advice as soon as possible – they may not be able to improve their chances of staying in work, but they may find they can improve their financial situation, so they’re better placed to cope with any bad news.”

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Gregory Pennington offer debt management plans as well as a range of other debt solutions. If you are worried about debt, contact one of our expert debt advisers now.