What does recession mean for blue chip companies?

Question

I've recently been made redundant from a really small company in the uk due to lack of business in the sector I was working in and am now working for a blue chip company (they work in industrial batteries, factory equipment, components etc). I'm not entirely sure exactly what a recession is exactly, so can someone explain it to me? Are blue chip companies mainly safe from having to make a load of redundancies? I know unemployment in the UK is really high at the moment so if I did lose my job I don't think there'd be much chance of getting another one. Are there any businesses that thrive during a recession? Any help from anyone would be appreciated as I am really worried about being made redundant again.

Answer 1

In a recession times are tough so people buy less of most things.  So, most companies are hurt by this, blue chip or not.  I think its likely that the UK will go into one, but who really knows.  Still, this is all out of your control so don't worry about it to much (its like worrying about the weather, I mean bummer if it rains but what can you really do about it).  I'd advise just working really hard and doing your job exceptionally well.  It will mean taking on the tough assignments and working longer hours, but if there are any layoffs you, as a very valuable employee, will probably be safe.  Its the employees who are not working as hard that may be made redundant.  No guarantees, but thats the safest course, I think.