Recently there is an email circulate around about the news of some companies reaction to the economy downturn (mainly in penang). Some retrench people, some force leave, some plant shutdown, some certain site closed down, some no increment for 2008 review.... so on and so forth.
So I'm wondering what's next for my company. We have one unprofitable division has been dissolved and 3 BU under it will have to split under multiple different division. Well, luckily no WFM, the business is still going on, just that they want to restructure for better profit margin which i think it makes a lot of sense.
Not only that, today my division announce to exit from one business that is not profitable. Again, it was fortunate that no WFM. If we look from the business point of view, it was a right move. During this economy down turn, we should focus on core and profitable business rather than trying to help saving those loosing money business. We really dont have the luxury to do so. Having said that, i guess it wasn't an easy feeling for those employees who work in that business unit to receive that decision as well as me. I hope they will get over it soon.
I would expect more bad news reveal in the near future being it from Agilent or other companies. Just be prepared...
5 comments:
when is your turn? :)
gaik ling, are you affected?
MK, my turn for what? :)
SY, I'm not affected as of now :)
aiya, i wish to publish my comment in your niece/nephew post to ask when is your turn to deliver baby... But i dunno why it appears here.. hmm...
haha...MK, to answer ur question when, i hope it is next year lar :)
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