Redundancies! Yikes!

[k1w1]

I am fairly sure we all know someone by now who has lost their job recently. It is getting really scary. Education and health are often seen as "recession proof" industries, and yet (admittedly a different situation) International Schools are really feeling the pinch. We are all expecting to hear that we may be "reshuffled" or have to take on extra loads just to help offload costs.

Is anyone thinking about moving on? From what I can understand, there are places that are worse. Dubai sounds like it is about to fall apart at the seams. (Is anywhere doing ok?)

[ScoobyDoes]

Personally speaking, i'm not sure any place will escape this situation. It is very much a global problem. I'm looking at my business now and whilst it's just ooooooookay at this moment, the second half of this year is going to be a bloodbath.

The best one can hope for is to ride out the storm and survive as best as possible. In terms of moving on, i would only locate to somewhere the living cost are much lower thereby extending my survivability OR go home and bludge off the government like millions of my countrymen and even more immigrants.

Let me see then in a few months whether my boss has the reserves to ride it out or not.

Does depend on the type of industry we're in i suppose...... you could always become a debt collector.

[ksl]

I was discussing with a local retailer of necessities and he was telling me how he was suffering with a drop in consumer traffic, but what can he do to bolster the business.

This is were one really needs to be inventive and creative with a sparring partner in business, to look at feasible ways of improving revenue streams, the same goes for any business in financial difficulty, with the occasional wife going out to work, to help support the biz.

Many will also be advised to call it a day or look for alternative stimulus in products and strategies, it is a time for head banging, discussion and don't forget, investment.

Property price's are dropping big time, so maybe a move could be on the cards, one thing for sure, it's time for control and management issues to be looked at, along with efficiencies in those employed and opportunity cost.

On the microeconomic side one should be looking at economy of scale and diseconomies and adjusting accordingly, where there is a will, there is a way, and survival is the important factor here!

Although dragging one's feet on making the adjustments needed to survive, is also very relevant!

ScoobyDoes says:

depend on the type of industry we're in i suppose...... you could always become a debt collector.

In Singapore with a tin of black paint? No vacancies! Anyplace else in the world no vacancies.

Had my home redecorated last week with black paint, it appears the owner we purchased the property off, owed a significant amount, it took all of 2 hrs to locate him, turns out he declared bankruptcy long ago and he was in the hands of the CID.

I also heard Dubai is much worse than Singapore, it would be, with vast financial investments in UK wiped out, no one is spared, although the vultures will be out reaping the rewards. I would say it's a time of offering support to your company, if you want to hang in there and even then it may not be enough.

[Vaucluse]

Had my home redecorated last week with black paint, it appears the owner we purchased the property off, owed a significant amount, it took all of 2 hrs to locate him, turns out he declared bankruptcy long ago and he was in the hands of the CID.

Have the Ah Longs changed from red paint to black?? On the bright side, you can stop paying rent for a while, he'snot in a position to demand it, is he?


On the OP's question . . . it is not good anywhere. I know three people personally who have had to go home . . . one didn't get any money as his company went bust and he has to pay his own way back with the furniture and everything.

[Forks]

Most of us are here for the job and not the lifestyle so when the job goes so do we.

[ksl]

Had my home redecorated last week with black paint, it appears the owner we purchased the property off, owed a significant amount, it took all of 2 hrs to locate him, turns out he declared bankruptcy long ago and he was in the hands of the CID.

Have the Ah Longs changed from red paint to black?? On the bright side, you can stop paying rent for a while, he'snot in a position to demand it, is he?


On the OP's question . . . it is not good anywhere. I know three people personally who have had to go home . . . one didn't get any money as his company went bust and he has to pay his own way back with the furniture and everything.

Actually we pay a mortgage not rent these days. It appears the person we purchased the place off, had stopped paying the Ah Longs, yeah why black paint in stead of red, it was nice of them to leave a name anyway.

Police have them locked up now, and they self confessed to doing ours so no need for a court visit and hopefully that's the end of it

[TennoHekka]

I am fairly sure we all know someone by now who has lost their job recently. It is getting really scary. Education and health are often seen as "recession proof" industries, and yet (admittedly a different situation) International Schools are really feeling the pinch. We are all expecting to hear that we may be "reshuffled" or have to take on extra loads just to help offload costs.

Is anyone thinking about moving on? From what I can understand, there are places that are worse. Dubai sounds like it is about to fall apart at the seams. (Is anywhere doing ok?)

I'm ok, but I can't say the same for many local AND foreign mates of mine. As per anywhere in the developed world, if its not the property that's killing them, then its the family and the job loss. Strangely enough, I think the pain is less in places like Russia and Norway though, not the developed economies of the world.