Thursday, October 9, 2008

We Feel it Now

Hubby and I are working in an American Semicon Company. We have 5 major sites.We have San Jose CA, Minnesota and Texas in the US. We have a plant in Cavite and an office in Taguig (The Fort) here in the Philippines.

We start to feel the US crisis last month. Lay-offs happened in Minnesota. Our Texas plant is shutting down - this is an old news but we know that somehow it will affect our stock price. The recent happening was last Friday. Lay-offs happened in our San Jose site. Approximately 50-100 people lose their jobs.

This worries us because whenever layoffs happened in our major sites, something will also happen in our Philippine sites. We normally have voluntary resignation. There were benefits given but it can't sustain a lifetime. To have a business or a regular source of income is still the best option. One thing that worries me is our EF which is still way behind our target. We're only at 17% so we need to tighen our belts more. We need to revisit our expense file and check how can we improve further. We just hope and pray that it would not happen here.

No comments: