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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe number of companies quitting Britain or slashing jobs can't be attributed to bad luck any more.
The day Project Fear got real
Number of companies saying its time to move out of UK is picking up.
https://www.politico.eu/article/the-day-project-fear-got-real/
Updated 2/19/19, 10:48 AM CET
Britain must now contend with an unprecedented number of companies saying that they are packing their bags or warning that they will do so | Dan Kitwood/Getty Images
The number of companies quitting Britain or slashing jobs cant be attributed to bad luck any more. There are just too many.
Japanese carmaker Honda made a major announcement on Tuesday: It will close its plant in Swindon by 2022. That means cutting 3,500 jobs and a calamitous knock-on effect on all the smaller companies that supply and service Honda in southern England.
This is only the latest instalment of a snowballing disinvestment, which was never in the Brexiteers script. From the beginning of the Brexit battle, leading Conservatives always insisted that Remainers were stoking Project Fear by arguing that major companies would quit Britain if the U.K. left the single market.
But a trickle of departing businesses is now becoming a stream. Prime Minister Theresa May is gambling that she can win a game of high-stakes political brinkmanship with the EU, but the U.K.'s reputation as a safe destination for foreign direct investment has already taken a heavy knock.
The Dutch government this month gloated that it had helped 42 companies make the switch from the U.K. to the Netherlands in 2018 because of Brexit and is in talks with more than 250 others about making a move.......................
Thyla
(791 posts)So they will have enough people to do all the fruit picking, farm labour, nursing jobs, bar workers, barristas and various other low skill(nursing aside, you guys rock) low pay jobs that currently EU citizens are doing. I mean us Aussies have been helping out in this department for decades but there are only so many of us to go around.
Low skill means retraining is minimal so shouldn't be too much of a roadblock.
Got to look for the positives and all.
MicaelS
(8,747 posts)Can't they see what is staring them in the face?
Wellstone ruled
(34,661 posts)at least a 25% reduction in the British Economy. Projected Unemployment heading to 20%. Pound Sterling Monetary Value loss pushing 20%.
Pretty Friggin ugly scenario yes.
uponit7771
(90,371 posts)Wellstone ruled
(34,661 posts)headlines at Bloomberg. Goldman-Sachs moving or have move Jobs to Germany,France and Spain. JP Morgan moving or have moved Jobs to the Continent . Barkley's,which is connected to the Royal Family,moving their Trading Desks to France or Spain. Ford Motor,canceled a major Expansion of their Engine and Transmission Plant and are joining with Volkswagen to pick up the slack if necessary. Okay,that is some where near 60k jobs.
Just the tip of Britian's problems.
uponit7771
(90,371 posts)Takket
(21,714 posts)Cant say the name but rumor has it U.K. jobs are going to take a massive if not total hit in upcoming job cuts. While cuts are coming world wide i have to believe Brexit is making the decision a lot easier to focus the cutting in the U.K.
sweetapogee
(1,168 posts)Any word on what British companies with factories in the EU or Japan will do with those factories?