Meridian Unplugged - Powered by MrTechGuy.co.uk Forums Discussion Meridian - Systems Job losses at Meridian Huntingdon (and the state of the economy)

Sad to say that this was announced in my local newspaper, the Hunts Post:

'HUNTINGDON�S Meridian Audio has entered consultation with employees over possible job losses.

The company would not confirm how many jobs were at risk, but said arrangements would be finalised before Christmas as Meridian looked to adapt to the �changing demands�
of the marketplace.

Tim Ireland, Meridian�s chief executive, said the losses would be �mainly in the supply chain� and production facilities in Huntingdon. �It�s a reflection of the changing of the business model, moving more towards intellectual property licensing, and a reflection of the economic downturn in Europe. �It doesn�t need a rocket scientist to see how things in Europe are impacting businesses"...

Mr Ireland said: �We are continuing to work on exciting business development projects. But the business is evolving. It�s regrettable, but that is the grim reality. �We will be looking at all individuals and their skills � it will be completely fair.

�We have to recognise the business model is changing and the world is changing too. We must make sure that the business is well equipped to meet the changing demands of the
modern world."...'

So it seems to me that this signals a significant de-emphasis on developing, manufacturing (particularly in UK) and distributing hardware. If you remember, Meridian announced new jobs and staff expansion last February so this is doubly unfortunate. As far as I can tell, the last time M announced redundancies was in 2008 in the depths of the bank crisis.

Thanks for posting. It's not a nice thing to go through so my thoughts are with the folks at HQ.
As I'm sure most on this board realise the economic climate is more difficult now than probably ever before. Finger's crossed M can find a way to shape themselves for survival.

Lloyds Bank economists reckon that the first half of 2012 is likely to be worse than 2008 for the economy. They think that things will improve in the second half of 2012 (but their view may be clouded by being an Olympic key sponsor).

Interestingly, a lot of the very high end luxury brands with whom Meridian align themselves are doing very well at the moment due to sales to Russia and the Far East.

It is not good news just before Christmas for the Meridian workforce with whom I have a lot of sympathy.

That is not good.

My sympathies to the affected employees.

Particularly, as noted above, just before Christmas...I do hope, that for those impacted, it is one of those situations where, in the long run, they end up far better off...

I heard an excellent program the other day on public radio that both Europe and usa are falling into the same trap japan did with it's lost decade.

They started with stimulus just as they started to see some recovery and then tried to address spending just at the wrong time.

Uk is leading with the spending cuts and they are battling over it in the usa now.

I must confess, I fear for the worse. The word �depression� keeps cropping up on the �Today� programme (BBC Radio 4) more often as time passes.

We're in a Catch 22 situation; the ratings agencies and bond markets will not allow a Keynsian-style get out. We have years of trouble ahead and I still think that Eurogeddon will happen.

In the UK at least, we have collectively been living beyond our means for decades (take a look at our per capita GDP). This has been ignored by polititians and the public has been ignorant as it buys more consumer electronics and holidays than it can afford.

Same here (no only electronics and holidays but new cars and houses too!).
Yesterday 12 were fired in my office... hard days ahead.
Carpe Diem?

Living beyond one's means has been a worldwide phenomenon since the 90s, if you talk to anyone from Asia to South and North America to Europe will tell you the same thing. Just yesterday I read a newspaper article about luxury car sales - never been better it said. Where's the crisis I thought!

After the so-called lost decade in the stock market, the housing market burst, what are you going to do with your money but enjoy it by buying finer things, that is why high-luxury companies are doing so well (from jewelry to autos, art... and the high-end real estate market).

This is an interesting time to study consumer behavior, on both ends, the 99% and 1%.

Japan's lost decade was fairly specific to issues in Japan. Culturally, they are chronic savers, so when the gov't lowered interest rates, there was little pick up in consumption, rather corporate deleveraging. I lived in Japan, up to the early days of "the lost decade".

While I cannot speak for the UK, I think it's purely media speak, suggesting the US will see a similar issue.

Economists are split on causes, solutions, probable outcomes. The lack of political consensus and political will in the US reflects the uncertainty. The election here won't clarify IMO. I still hope there are a few (Meridian) luxury goods in my future!