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Feeling the Global Crisis

Thousands lose jobs.  The world's financial crisis continues to make it's way and our company is never an exemption.  Just yesterday, we heard from the buzz around here that 5% - 10% of every account will lose their jobs, especially the contractual employees and those employed through agencies.  And there will be no overtime policies starting Feb. 1 (well, I have no problem with that coz I don't want to render OT and I rather stay home and rest).  My friend's hubby is working in electronic company based in Laguna and she said they only have 4 working days since last year. Hubby's company also felt the global crisis and he told me that one whole project was abruptly terminates its contract losing almost 50 employess (including regular ones) and they only heard the news that it's their last day when the employees reported from work that day. Hubby said he can't go near to console them for they are all crying and saying goodbyes to everyone.

Some are offering early retirement and retrenchment or redundancy to their employees and some may take it as an advantage if they really don't want to stay in their posts.  But looking for another job is another question.

It's never been easy living nowadays.  I hope this year of the Ox will rise up as the month progresses.

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2 shared their thoughts:

AiDiSan said...

You here in the news everyday about different companies closing and a lot of people losing job and it's really depressing.

Our company implemented "Forced Leave W/Out Pay", good thing our department is not affected YET.

Businessmen & Economists were right when they said that global crisis will continue on 2009.

Despite that, let's a;; stay positive, God can work wonders. For now let us learn to cost cut and live within our means.

By the way, I've added you in my blogroll, hope you'll reciprocate soon.

Take care!

Pau-pau said...

Hi sis! Its really sad. Our company has implemented the 5 day working day and the no overtime policy starting January. Some of our customers are closing down so our sales are affected. I really pray for the recession to end. I'm still positive that it will soon pass.

Take care always sis!