The Announcement Made
We've finally got down to our bended knees and admit to the rest of the competing world that even us, the mighty sub-con of Ipoh is unable to proceed without making sacrificial offerings to the economic downturn.
It's about time. Thanks so much for keeping our blood pumping with the suspense of guessing whether or not we will suffer the same fate as most our competitors and customers, even vendor companies, of the 3 steps strategy to maintain the business.
We're in step 2 now, with the first being "Freezing hiring, year end increment and promotions". That was officially announced effective till the end of our current financial year, and it ain't December 2008. Obviously the least impact to employees.
Well, step 2 is the less intriguing one being "Force Leave". The news just got out from the oven, freshly baked today. All of the highs & lows in position in the whole of department needs to take off 4 days in December. If you're still holding onto some unspent annual leave, it's your lucky month to be able to clear some annual leave. If otherwise, there will be a hole in your wallet.
Step 3 is the most fearful one, but this has not been implemented just yet. It's called voluntary separation scheme (VSS), in simpler english, we're cutting you off from our head count but we're giving you compensation for doing so. Hope this will not happen though.
But of course, i still have plenty of unspent annual leave, sufficient for the company to implement force-leave of 4 days monthly for 3 months. However, when i go into month number 4, i will be in deep shit. Why? Because i would've finished all my annual leave by then and i need several days off end of March next year. That will come out from my pocket.
Times are bad, it's only wise to save more, and spend only on the necessary. i'm foreseeing myself going into the 3rd month without monthly savings, thanks to my overspending and insurance payment for the past 2 months, and the year end traveling.
Are you as badly affected like us in the semi con field?
It's about time. Thanks so much for keeping our blood pumping with the suspense of guessing whether or not we will suffer the same fate as most our competitors and customers, even vendor companies, of the 3 steps strategy to maintain the business.
We're in step 2 now, with the first being "Freezing hiring, year end increment and promotions". That was officially announced effective till the end of our current financial year, and it ain't December 2008. Obviously the least impact to employees.
Well, step 2 is the less intriguing one being "Force Leave". The news just got out from the oven, freshly baked today. All of the highs & lows in position in the whole of department needs to take off 4 days in December. If you're still holding onto some unspent annual leave, it's your lucky month to be able to clear some annual leave. If otherwise, there will be a hole in your wallet.
Step 3 is the most fearful one, but this has not been implemented just yet. It's called voluntary separation scheme (VSS), in simpler english, we're cutting you off from our head count but we're giving you compensation for doing so. Hope this will not happen though.
But of course, i still have plenty of unspent annual leave, sufficient for the company to implement force-leave of 4 days monthly for 3 months. However, when i go into month number 4, i will be in deep shit. Why? Because i would've finished all my annual leave by then and i need several days off end of March next year. That will come out from my pocket.
Times are bad, it's only wise to save more, and spend only on the necessary. i'm foreseeing myself going into the 3rd month without monthly savings, thanks to my overspending and insurance payment for the past 2 months, and the year end traveling.
Are you as badly affected like us in the semi con field?
2 Comments:
Hurmm....It is predicted that the economy will continue to plunged for the next 2 years and only start picking up again in 2011. If this is the case, this should only be the beginning and m afraid that situation will get worse especially since there are people in our country who still live in denial and announce that we had a low inflation rate. Puik!. Neway I guess bad times are here.. and it will affect every walks of life (but mebe not those big Ps up there)and not only those in the semicon industry :( damn sucky
By
Anonymous, at Thursday, December 04, 2008
not sure to feel relieved because there are people suffering the same fate or feel even worst after reading that because this is going to continue on for quite some time & we're still living in denial with the obvious fact that our composite index has continue to drop.
By
chim-chimz, at Thursday, December 04, 2008
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