What companies/industries are hit by global economic crisis and are laying off?

[tidus1203]

^^I dunno. I don't have a crystal ball only the companies can say if they plan to lay off or not.

By the way Advanced Contact Solutions (AKA Paxys which is a listed company in the PSE) layed off some agents because one of their US clients went bankrupt.

http://www.abs-cbnnews.com/video/nat...r-lays-workers

[Gen. Miting]

^^I dunno. I don't have a crystal ball only the companies can say if they plan to lay off or not.

By the way Advanced Contact Solutions (AKA Paxys which is a listed company in the PSE) layed off some agents because one of their US clients went bankrupt.

http://www.abs-cbnnews.com/video/nat...r-lays-workers

advanced contact solutions, kilala ko may-ari nito ah

[teeyoh]

This news is also a bleak outlook for our OFW's based in Dubai.

[SIZE=3]`Dubai Dream' May Be Over on Lower Oil Price, Citigroup Says [/SIZE]
By Camilla Hall
Nov. 18 (Bloomberg) -- The ``Dubai dream'' may be over because lower oil prices will leave smaller fiscal surpluses among its crude-exporting neighbors to invest in the emirate, said Citigroup Inc.
``We believe it is safe to say the Dubai dream is perhaps over,'' Citigroup economist Mushtaq Khan said in a report e- mailed today from London.
Dubai has borrowed from its neighbors and international banks, sparking a real-estate boom that saw residential property prices increase fourfold in the last five years. The bubble may be about to burst as HSBC Holdings Plc said Dubai and Abu Dhabi house prices fell for the first time this month, after credit markets seized up, banks tightened mortgage criteria and developers started to scale back projects.
The emirate ``has been booming on the oil surpluses'' from neighboring Gulf states and Russia, Khan said. ``Dubai's two specific concerns are its real-estate sector and how it will refinance the debt it has built up in recent years.''
The price of New York-traded crude has more than halved to about $55 a barrel since reaching a record $147.27 on July 11.
Gulf states will be able to maintain fiscal spending at current levels as oil remains above the breakeven point for most governments, Fitch Ratings said in a report on Nov. 11. New York-traded crude closed at $59.33 that day.
Dubai has borrowed to fund real-estate projects including Burj Dubai, the world's tallest tower, and to buy stakes in companies such as Deutsche Bank AG as it seeks to diversify its economy away from oil.

read more here

[uls]

money is drying up everywhere

even in the middle east

much of the world's money is parked in US T bills

go to Washington...

that's where the money is

the US govt is spending trillions

[tidus1203]

^^That is misleading and you know that! Washington is the most bankrupt entity in the world. But given the powers of the printing press, they can instantaneously create money out of thin air without pain, and all the gain!

[uls]

hehehe

ok i failed to add one word -- paper

go to Washington

that's where all the paper money is

[blackmoon06]

tanong ko lang po: if most banks worldwide don't have the money, eh saan po napunta ang pera ng mundo?

[uls]

no, there's money in the banks

they just won't lend

so there's less money in the economy

[Yenfico]

I'm on semiconductor industry and it really hit by the global crisis. I know some semiconductor companies started to reduce their manpower due to their loading forecast really drop... hundreds as I speak and it is really bad for our country. Many of the OFW's in Taiwan who worked for semicon have been lay-off and went back here without any money in their pocket... may utang pa!
Products of semiconductor are for electronics, telecommunications, automotive.

[uls]

Any country who depends on US and EU demand is affected

China, Japan, Taiwan, etc