And you thought there will be major layouts and other cost-cutting measures on Friday the 13th. Who would have guessed that they will implement it on Friday the 20th?
12 retrenched in my company yesterday. In my opinion already the 2nd round of cuts since a few left after retirement a few months back. Most of those involved in the cut were redundant or made redundant as alot of jobs were shifted to Shenzhen office. In a way they have been replaced by cheaper staff but there's nothing much they can do about it since we are effectively 2 companies in 2 difference countries.
I'm not too worried about my job or those under me since, by infrastructure, rules and organization, the jobs cannot be relocated nor made redundant. If the company were to replace me they will have to employ in Shenzhen and send the fellow down to work in Hong Kong. Otherwise if they employ for less here in Hong Kong to replace me then I will have a case against them. But then again... they can come up with ploys to sack me legitimately.... no?
Frankly speaking I have lost all respect and loyalty in this company since last August. Selecting retrenchment before other options like enforcing unpaid-leave and/or paycuts really pushed things into the drain for me. Behind every job there's a family and a story.
Forwarded C.V. for an acquintance to a few HR agencies in Singapore. I doubt she will get a job. Seems like employers are not employing. Add her asking salary... she is fighting a losing battle. And another one of my friend just got a 5% paycut. After a primary school friend of mine got retrenched a few months back.
End of the day, I fully understand the need to enforce cuts earlier than our competitors. It's a matter of endurance. In fact, I think this is the best opportunity for my company to surge forward. By the end of this economic crisis, many smaller competitors would have bit the dust, leaving us and other surviving corporations to fight for the pie.
But until that day arrives I'd better keep a low profile and stay out of trouble~