The economy is tumbling down. The worst one since 911. I’m not an economist. But, I know what caused it.
The bankruptcy of two US biggest finance company. It has a domino effect. Mostly on finance, investment and manufacturing companies.
Many electronic companies in Malaysia were shutting down. And, many people are terminated. Jobless. Money-less. Severe headache.
I received an email from the global CEO in the middle of December ’08. Saying;
Today we are announcing that XXXX must adjust its guidance downward for the first quarter due to rapidly deteriorating business conditions. With that, we also are announcing that we will be taking a provision, or a financial charge, to cover asset management actions and position reductions in the 2009 fiscal year. While these are not yet finalized, we are estimating that over the course of 2009, we will eliminate roughly 1,300 positions globally.
1,300 innocent people will be jobless instantly!
But, I thought… hey, that would be in other countries. Not in Malaysia. Heck I was wrong.
A colleague whom I’m quite close to was retrenched recently. Extremely short notice. 24 hours. Very cruel!
The reason given – her position is not required in any department. Not required?
As easy as that? What were they thinking? She has been working here for 12 years!
Loyalty not a guarantee anymore.
Did I mention she is 7 months pregnant?
She will be jobless for months. Who will hire a newly-retrenced pregnant lady? Answer me!
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