Credit Crunch in Engineering

I'm starting to see more and more effects of the CREDIT CRUNCH in Britain!!! It's crawling nearer and nearer to me. And now, it's hitting some people around me.

Ok. This afternoon, I've just heard news that two of our competitors (Atkins and White Young Green) are going to shut down their local office (in Cardiff). Well, they're engineering consultants for those who're not familiar. Is that a good sign??? Hmm... What do you think?

One of ATKINS' building that they always take pride!!!!

Now take this pride and move out of Cardiff!!!! Haha....

Well, them shutting down will mean we get a bigger share of the regional market. However, that's also a sign that there isn't enough work for everyone. Meaning, the market had shrinked in size.

So in this current economic climate, what sort of precaution have my company taken. Directors have been convincing us that the company is strong and robust and blah blah blah.... And we have not hired or fired anyone until now. So, their plan/strategy, is to ask employees (like me) to work some unpaid overtime. Hmm.... He said " As long as everyone chip in (sacrifice) a little, we will shelter this crisis, and we will be strong in the regional market... blah blah blah..."

Well, I don't own the company. I don't even have any shares in it. Why should I work for free??? I'm still not convinced to work for free.

I wonder what will happen 6 months later. Economist have been comparing the credit crunch with the Great Depression in 1937...