14
Jan
Posted in Business, Business News, Career by Damien |
After laying off 3,000 workers last month, Motorola has announced an additional 4,000 workers to be cut to save a reported $700 million on top of $800 million estimated savings from fourth quarter cuts.
This report is another big blow from large companies feeling the pinch of the depreciating economy. The choice right now for most companies is really to survive or to close and obviously, the former is the logical recourse.
But along with that choice comes a sacrifice that points towards thousands of people having to be cut to save on expenses.
The actions we are taking today in our Mobile Devices business will allow us to further reduce our cost structure and positions us for improved financial performance in 2009. Together with these actions and the announcements made in the fourth quarter, the Mobile Devices business expects to recognize annual cost savings of approximately $1.2 billion in 2009.
Source
[tags]feeling_the_pinch, financial_performance, fourth_quarter, mobile_devices, recourse, sacrifice, motorola, economy[/tags]
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5
Jan
Posted in Business News, Jobs and Careers by Damien |
With recession looming across the world, expect a lot of people without a job starting this month. This prediction was expected as early as the third quarter of last year and it seems that many people are slowly feeling this pinch of surviving the worst economic crisis to hit the world since ages.
There have been bailouts given. Loans with affordable interest rates with their business stake as collateral have been granted. But the thing is, are they enough?
Majority of the employees hit are the overseas workers. Thousands have been laid off in the United States, Saudi Arabia and Taiwan. A lot of them are Filipinos. Many came home last December, their last trip for now since they are formally out of a job.
There are countries that declared job openings. Among them include Qatar, Canada and the United Kingdom. But so far, nothing definite has been reported with regards to their actual needs.
Folks, the crisis is for real. If you have a job, do all means to keep it. For the unemployed, all you can do for now is keep on looking. That is the best thing you can do for now, regardless if you have a diploma or not.
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