So we had our all employees meeting this morning, the dreaded one to confirm New Co’s plans for re-organisation.
I was hoping for the best but prepared for the worst.
We got hit by the worst.
At the last meeting, the European CEO of New Co had assured us that they intended to maintain a presence (office) in Manchester for the long term.
He wasn’t telling fibs but what has now been revealed is that the ‘presence’ will be a mere skeleton staff and that ‘certain’ roles will be relocated to HQ down south. That’s nearly 50% of the staff being made redundant.
Ok, not totally unexpected despite things looking slightly positive of late, but still a slap in the face that I couldn’t quite dodge.
I don’t think it’s quite sunk in.
I don’t feel upset, anxious or worried (yet), I feel….annoyance that my FI plans have suffered a setback before I could get some more solid years of saving and investing in.
Of course, I am not abandoning my plans – FI/early retirement is still something I’m going to strive for, but certainly at some point very soon, my savings rate will take a sharp nose dive/ be non-existent until I get my feet back on the ground with another job and can make amends for this temporary setback.
No real info on severance packages or exact timelines just yet – that will come tomorrow or in the week to come.
How bloody annoying. 🙁