As a former NR apprentice who has not long finished the apprenticeship scheme, I understand his worries. I'm just about to take out a mortgage, so we're probably in a similar boat.
What can he actually do about it though? Not a lot, same as me. Ensure he keeps taking any courses offered, put some money aside in case he does lose his job and don't go wreckless on the spending. It'll all depend on his area, his roster, his role etc. It'll be different for everyone, although some may be more at risk than others.
I think 95% of faulting and maintenance S&T teams will be fine, I'm now not worrying, just being sensible and plodding along.
It’s very sensible to put some money into savings if you can. In any event, make sure that you have enough savings to cope with an emergency. Say three months wages.
If you have a mortgage, and already have a suitable emergency fund, then if the interest rates on savings are lower than the interest rate on your mortgage, generally, if possible, it’s better to pay a larger amount to your mortgage provider, so that you pay off your loan sooner (but do check with your mortgage provider first). As then you pay less interest overall. That’s also a good reason to work some overtime if you can get it, to help pay off your mortgage.
If you don’t currently have a mortgage, then you have a choice. Wait and see what happens, but with the risk that it may not be possible to get a suitable mortgage later. Or get a mortgage now, and maybe have to deal with the consequences if you are made redundant later. That’s a personal choice.
No one really knows what the future holds in terms of individual jobs. The government, the Treasury and the railway companies are scarced stiff that the nice little earners otherwise known as commuters that pay thousands of pounds for their season tickets are not going to be returning. But we just don’t know what’s going to happen.
They are also concerned that passenger numbers in general will take years to recover back to pre-pandemic levels.
Hence Network Rail are looking to see how and where they can reduce spending. I suspect it will be similar with the train operating companies (TOCs).
At the RMT meeting, we discovered that Network Rail don’t currently have any proposals (written or otherwise) that they are ready to discuss with the unions or to put to the unions.
Just today, it was announced that the railways will be going back to a near normal timetable. Because the government wants to encourage people back onto public transport.
So until the powers that be see which way it’s going, they may well be careful about what they want to save money on.
But equally, the existing move to having technology do the monitoring, and the reduced scheduled maintenance frequencies of routine planned three monthly, six monthly and annual maintenance will continue.
And as they continue to move to more night and weekend working, and continue to move away from unassisted lookout / red zone working, this will mean that Network Rail will want changes.
Unfortunately that’s about all I can tell you at the moment.