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

[uls]

it's simple really . i dont see, hear, read any news in the international arena that banks are discouraging new deposits/depositors anymore

so dati pala they discourage deposits at ngayon hinde na?

where do u come up with ideas like that?

[uls]

Philippine Exports Fall for Second Straight Month
http://www.bloomberg.com/apps/news?p...t0g&refer=home

Jan. 13 (Bloomberg) -- Philippine exports fell for a second consecutive month in November as the global recession damped demand for disk drives and mobile-phone chips made by Intel Corp. and other manufacturers in the country.

Overseas sales dropped 11.9 percent to $3.49 billion from a year earlier, the National Statistics Office said in Manila today. The median estimate of eight economists in a Bloomberg News survey was for a 16.6 percent decline. Exports slumped 14.8 percent in October, the biggest drop in seven years.

Philippines stocks and the peso fell on concern the decline in exports will hurt growth in the Southeast Asian economy, forecast to expand in 2009 at the slowest pace in eight years by President Gloria Arroyo’s government. The global slowdown may also hurt remittances from the nation’s overseas workers.

[uls]

Growing stocks of unsold cars around the world

Nissan has announced plans to cut its Sunderland workforce by 1,200. Thousands of unsold cars are stored around the factory's test track

Honda is halting production at its Swindon plant in April and May, extending the two-month closure announced before Christmas to four months. Honda and Japanese rival Toyota are both cutting production in Japan and elsewhere. Pictured, Hondas await export at a pier in Tokyo

Land Rover Freelander cars await distribution outside the Halewood operations site in Liverpool. Earlier this week Jaguar Land Rover said 450 British jobs would go

The open car storage areas in Corby, Northamptonshire, are reaching full capacity

Imported cars stored at Sheerness open storage area awaiting delivery to dealers

[uls]

Newly imported cars fill the 150-acre site at the Toyota distribution centre in Long Beach, California

The build-up of imported cars at the port of Newark, New Jersey

Stocks of Ford trucks in Detroit, Michigan

New cars jam the dockside in the port of Valencia in Spain

Peugeot cars await shipment to Italian dealers at the port of Civitavecchia

[jansky]

This is really bad

if you look on it they are hoarding cars but reality check people afraid to buy those

[uls]

even if people want to buy cars, they have a hard time getting car loans

credit is tight

[jansky]

thats the problem..
people withdraw
bank hoarding cash
people afraid in getting loans
bank not profiting

[Monseratto]

Intel to close down Philippine plant

MANILA, Philippines — Intel Corp., one of the biggest foreign operations in the Philippines, has told employees that it will close down its over 20-year-old testing and assembly plant outside Manila, INQUIRER.net sources in the company said.

The announcement was made via email around 10 a.m. Wednesday, the sources said. It gave no date for the closure. Officials of the US-based chipmaker and its local public relations agency told INQUIRER.net they were not ready to give an official statement at the time of this writing.

The plant in General Trias town, in Cavite province, has about 1,800 workers, down from about 3,000 in November.

Elsewhere in the Asia Pacific, Intel is widely believed to be consolidating its investments in China and Vietnam.

http://business.inquirer.net/money/t...ilippine-plant

[tidus1203]

The Philippine Federation of Pre-Need Companies said Saturday it would not say no to a bailout package from the government, amid worries that the pre-need industry might face a big crisis.
The Federation sounded off an SOS to the government through Securities and Exchange Commission (SEC) last August 2008 due to concerns of an erosion in trust funds caused by the volatility in the investment market.
Confidential documents showing an industry wide deficit of almost 47 bIllion pesos were also obtained by ABS-CBN News.
Because of this, some lawmakers are already proposing a bailout plan for the industry.
Federation President Miguel Vasquez clarified though, they did not ask for a bailout package, saying that in their letter last August, they only asked for a reform in regulations that would give them more time to build more capital.
This proposal is still being reviewed by the SEC until now.
The SEC, meanwhile, admitted they have been receiving deficit reports from pre-need companies, but they do not agree with the industry wide deficit figure of P47 billion.
The Parents Enabling Parents (PEP) Coalition said Friday it appears that the pre-need companies and the SEC are not being transparent to the public.
They also blamed SEC's inefficiency in regulating these companies.
One proof, they said, is the fact that none of the pre-need companies under rehabilitation now, such as College Assurance Plans (CAP) and Pacific Plans, has been punished for allegedly mismanaging their trust funds.
The SEC explained though that they have limited powers, and thus they are also pushing for a reform of the Pre-Need Code that would give them more teeth in implementing regulations.
The Federation, on the other hand, admitted some of the pre-need companies did make bad decisions that led to the current situation of the industry.
One such bad decision is the open-ended educational plans of both CAP and Pacific Plans, where the companies ended up paying a higher tuition fee than the amount paid by each plan holder.
Because of this, some business organizations like the Makati Business Club are against the proposed bailout for the pre-need industry.
They believe it is not right to save an industry that failed due to bad decisions.
Otherwise, all enterprises that fail because of irresponsibility and bad decisions would seek a bailout in the future. -- Zen Hernandez, ABS-CBN News

http://www.abs-cbnnews.com/business/...t-mind-bailout
I say no thank you!

[1D4LV]

the past few weeks, Intel has been hit. Microsoft has been hit....