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 Financial Crisis
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Stefan
Moderator

236 Posts

Posted - 04/20/2009 :  14:59:27  Show Profile  Edit Topic  Reply with Quote  View user's IP address  Delete Topic
Hi all,

I´m wondering, how is the financial crisis influencing the language service industry and what branches and sub-branches are mostly influenced.

I feel that especially the automotive industry is suffering, what do you think?

LILLYAN
Starting Member

1 Posts

Posted - 05/11/2009 :  17:55:13  Show Profile  Edit Reply  Reply with Quote  View user's IP address  Delete Reply
It seems that we have only more cars on the streets:)
Im wondering when i wil get some job here that I can pay for my membership.

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Stanislav_Pokorny
New Member

71 Posts

Posted - 05/13/2009 :  17:13:58  Show Profile  Edit Reply  Reply with Quote  View user's IP address  Delete Reply
A week ago, I did my regular "Customer Tour". My clients include quite some agencies and they all confirm that their turnover has dropped by 20% compared to previous year. :(

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Spenceley
Starting Member

2 Posts

Posted - 05/27/2009 :  08:40:03  Show Profile  Edit Reply  Reply with Quote  View user's IP address  Delete Reply
quote:
[i]Originally posted by Stefan[/i]
[br]Hi all,

I´m wondering, how is the financial crisis influencing the language service industry and what branches and sub-branches are mostly influenced.

I feel that especially the automotive industry is suffering, what do you think?



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Spenceley
Starting Member

2 Posts

Posted - 05/27/2009 :  08:47:34  Show Profile  Edit Reply  Reply with Quote  View user's IP address  Delete Reply
quote:
[i]Originally posted by Spenceley[/i]
[br]
quote:
[i]Originally posted by Stefan[/i]
[br]Hi all,

I´m wondering, how is the financial crisis influencing the language service industry and what branches and sub-branches are mostly influenced.

I feel that especially the automotive industry is suffering, what do you think?



Hi there,

At the beginning of the year I had a lot of work. From mid February to the end of March I had to work Sundays as well. At the moment I am only doing small translations that don't pay all that much.







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Kyoto
Starting Member

1 Posts

Posted - 06/05/2009 :  18:44:38  Show Profile  Edit Reply  Reply with Quote  View user's IP address  Delete Reply
My work has fallen year-on-year by 34%. In addition, earnings have lost 26% as I live in a high-value currency place but am paid in USD, Euros, GBP.

It is going to get much, much worse as the 40% economic downturn works its way through the system. Competition will get fiercer as more people with ANY language ability turn to "translating" to make ends meet. I am looking at 3 to 4 years of difficulty. Forget "green shoots".

Monitor the payments of your agencies carefully. A number will go belly up which means you probably won't get paid. Spread the risk, carefully, among a number of sources to avoid risking too much with any one agency. Be VERY careful with new agencies and "great" jobs.

Cut back drastically on outgoings. Don't panic, and eat less.

Cheers
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