Businesses have no choice but to tighten up and cut their costs. Redundancies are being implemented across the board and we are also seeing projections now of what is to come for many businesses in the next few years. Today, the world's largest paint maker, Akzo Nobel, is to cut 3,500 jobs by 2011 as part of a cost-cutting drive.
Is this inside knowledge at how long we are going to be experiencing these hard times?
I was at a few home stores at the weekend and you wouldn’t know there was a credit crunch in the UK – seriously, people where spending left right and centre, on food, household goods you name it, plus the car parks could not have been busier! Where is the money coming from? Savings? Bonuses? I doubt it – probably credit cards and that is a worrying thought. Make sure you can afford what you buy related to what you earn!
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Richard
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