The Continuing Financial Crisis

Really? I haven't heard about any Philippine companies closing. I know there are multinationals whose US counterpart already closed. But I haven't heard about any big local company laying off workers. Anyway the best thing to do now is just to be patient and be open to more opportunities out there. We'll have to hang on tight because 2009 isn't going to be smooth for all.

[i]Hi neildc, Nice to see you back! This is really sad especially for those who are laid off from work and have kids who are studying etc! I hope this will be resolved soon! I am looking for job this time but it's not easy! There are a lot of hiring but in sales and I hate that, I have no skills in selling! ANyway, let's just continue to think positive and save also in our everyday expenses! Enjoy![/i]

This simply shows how flimsy foreign investments are. They run away when profits are down. People should learn to rely on themselves instead of enslaving themselves to some foreign bosses. Cheers!!

Hi neil, I live in the UK and many a business has shut down or gone bankrupt, also many shops have been shutting down including one that has been around for 99yrs has just shut, others are cutting their amount of shops they do have, so there are many people now unemployed here and even more to come as reduncies and closure of other shops etc is on the cards too...the whole country is in a mess and so I expect is everywhere else in the world, financially people are just haveing to live on what they get which is hard a s food isn't cheap either...littleowl

Hi neil, Nice to here from you, yes it is very bad in most country now and there are many big companies are closing down and thounsands of people are all out of work now, the UK is hit very badley, ther are many job loses here, it such a shame. I am lucky, although I am not working, my husband is. Hugs. Tamara

HI neildc. The financial crisis is really being felt by many nowadays.In our ccompany we get free meals everytime we render extra working hours.We are also paid for doing extra work.Now we still get free meals but there is a limit of 100pesos per person,unlike before that we can splurge on our dinner meal. We are also requested to limit our overtime work, thus saving the company an amount from our salaries.Good thing we are busy in our branch here in the Philippines, If not some my lose their jobs,just like in our main office in the US.I hope this crisis will end soon.

Yes that is truly a frightening experience to know that we are experiencing the crisis that US is also suffering from the most. When US economy falls down everybody is affected by it since economically we are dependent on them as well as other countries too. I guess we all employed and more so to the unemployed that we are to face this crisis face to face. I just hope US could find ways to alleviate the crisis from spreading further.

yah right neildc. no one is exempted. and our government kept on saying that everything is stable and there are jobs in other parts of the country huh! they even offer alternative solution thru tesda program so that unemployed individuals can put up small business. just wondering how can a small business work when big businesses are stumbling? our government officials always deliver statements like "we won't be affected by the crisis". i just cant understand who that "WE" they are referring to? is that us, the ordinary Filipino people or them, the government officials? :-)

I hope things turn around real soon as the whole world is suffering. I heard the Intel plant in our state is moving to a smaller plant they have in another state & they're going to close down operations on this one

I also her that bad news about the Intel and PAnasonic and even government will need to reduce it financial cost by laying off the other personnel who does not pass the Civil Service Exam. It was so devastating and sad cause we knew how they need their jobs. Maybe this is one reason why we all should know how to save even a little amount for our future since we don;t know what's in store for use in the coming days. And as a citizen we should aso know or find ways to help our economy to be more stable though I know it will be hard but I'm sure it will be very helpful to all of us. I just hope that this crisis will soon end and we will all continue to live accordingly to our needs.

agree neil its world wide.its worst in germany.in pinas we are not that high so its not affected at all.germany was 3rd place world riches country and now not anymor. the riches in europe now is the poorest before. in germany at the moment so many suffered here.so many cannot pay the bills and heater specialy this winter many expenses.

I was even surprised when I heard from the news that Intel Philippines was closed already. Intel was a big company who would have thought it would be blown by the financial crisis. The Philippines is no exemption and its going to experience the crisis as a tidal wave. That was what the economists had predicted. We should brace ourselves for what is going to happen in our economy.

Yes, One bad economic turnout affects other countries also. If you see the u.s. for instance doing bad that means some other countries are also doing bad. I hate seeing the world doing so bad right now and wish there was a way to make the ecomomy do better again.

Our government seems to convince us not to worry much of what's going on.. having those alternatives don't make any sense.. still, there will be lots of Filipinos who will lost their jobs.. I have my homebased job but I worry alot for my husband's case.. :(

Sorry to hear that times are tough also in the Philippines. In the southern part of the US where I live, it's very difficult. Businesses are closing like crazy and people everywhere are being laid off. There seem to be no "new" jobs in sight. Here's to hoping the financial crisis resolves itself soon. Take care.