Last Bites of Economic Downturn

Just this morning around 30 employees from my company were made redundant for reasons that their skills were not in demand on the present economic climate.

This is now the second year in succession that my company have made people redundant. Last year's was acceptable but this year, in my personal opinion, was a little bit unacceptable.

Higher management said that there was a $2M loss last year, that was acceptable due to the global economic crisis. On the contrary, however, the Company President, said that there is about $1B liquid cash for the company. Why then the redundancy action?

On the part of those affected, I believe, this is a better time than last year as there are so many job opportunities now on the market contrary to last year. Job hunting this year probably will be a little bit better and easier.

This is one of the last bites of the global economic downturn. People may believe that it was already over but it is not. The after effects of the global crisis is still affecting peoples lives.

About the Author

Ver Pangonilo
A Filipino Engineer, Registered Professional Engineer of Queensland (RPEQ) - Australia and Professional Electrical Engineer (PEE) - Philippines with extensive experience in concept select, front-end engineering, HV & LV detail design, construction and commissioning of Hazardous and Non-Hazardous Area electrical installations in water and waste water pipeline and pumping facilities, offshore platforms, hydrocarbon process plants and pipelines including related facilities. Hazardous area classification and design certification (UEENEEM015B, UEENEEM016B, UEENEEM017B).
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