NEC plans to cut 20,000 workers! / myLot

Philippines

January 30, 2009 7:13am CST

I just read this depressing news from Yahoo!Finance dated January 30, 2009. The Japanese electronics giant NEC Corporation said it will cut 20,000 workers worldwide as it tries to stanch widening losses from semiconductors and other business that have been hard hit by competition and the global economic slump. Another crash because of economic crisis. Everyday, big companies all over the world had been laying off thousand of workers. When will this crisis would end?

1 response

spoiled311

@spoiled311 (5500)

• Philippines

30 Jan 09

hi siomaii! oh that is tough. and the issue is personal because i know of some people from church who work there. oh my... but yeah, even the company where my brother has been working, as in, the termination was immediate. true, the separation pay was big, but i dont think it would last long considering that it is hard to find another job these days. my brother thankfully has good record so he was not part of the retrenchment. so he stays. he has more workload now considering that a lot of people were removed from their posts. which is good for him. but i wonder how the others were holding up. such is the situation all over the world today. i wonder when everything will let up. but most of all, i wonder who gets rich? take care and God bles syou! happy mylotting!

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