Thursday, February 26, 2009

hard to be me

I have published quite a number of post regarding the global economic recession that we facing rite now. Rumors about this company going to bankruptcy, that company lay off employee. And rite now, it really happening in my company. The current situation did not get any better, it just become worst!

We are so badly running off cash in hands. We did not make any profit for last quarter and yet we still loosing money. Our demand is drop to 30% for this quarter, or maybe more that that. I just approximate the figure as I don’t have any company details. Our production is running under 60% of our capacity. It is such a waste!! Spsn stocks keep on dropping. Now is at low as 0.05 cent per unit. Things just getting worst and not even one sign to get better.

Enough for company situation lets focus more on me in this problematic company! As I mention, company is really in bad situation! Top management has made a tremendous action by reducing its global work force by approximately 3,000 employees, or 35 percent. The majority of the positions affected are at global manufacturing sites, as the company resizes the organization due to current market conditions. This action is taken in an effort to further reduce costs as company continues its restructuring efforts and explores various strategic alternatives. As far as I understand that after reducing work force, it will help company with annual cash cost savings of approximately $225 million.

Yesterday, MD had announced that KL will practice reducing 35% work force and it will affect about 300 people in KL plant. Voluntary Separation Scheme (VSS) is offered to whom is interested with the package. It has different calculation for different year of service. We have been given 2 days to think about VSS and today 12pm is closing date. The result will announce on 3pm today. So, who ever is selected will need to leave the company as soon as possible. Boxes will be provided to each of them to pack all their stuff and the security will escort them to the exit gate.

Now is 2:11pm, it is about 45 minutes before that moment. I do apply for VSS and wishing that my name is in the list. I don’t know whether I do a wise decision or not. But, it is really come from my heart after a hard consideration. So, this is maybe my last post from this laptop. Last day I am wearing doe yee shoes. Last day am sitting in this cubicle. Last time having free lunch and chit chatting at the cafeteria.
Wow! It almost time. I better publish this post fast. I need to do back up and pack my stuff.
Doakan saya ye.


Ezmah said...

Cik Yam,

Really that bad ker? wow...x sangka coming to an end like this. situation worsen la aper planafter this?

Uwa said...

Unfortunately my name not in the list! so, terpaksala menghabiskan sisa sisa kehidupanku di sini sahaja.
On macam mana?

Mohd Faiz Safwan said...

at least u'r still havin a job..
it's x an end..
recession ni is a cycle process..
would happen again in d next 8-10 yrs or less..
kalu keje lagi 20yrs..
we'll face it again..
at least twice..
take it as a norm..
part of life cycle..

Uwa said...

Faiz Safwan,
that is true! is a cycle. Tapi sangat pain la menghadapinye. Bukannye ape, kita just want to share my experience with others je..

Doa.Usaha.Tawakkal.InsyaAllah yang terbaik untuk kita kan?

Ezmah said...

Hmm, for the time being...On is still surviving we never know what mgmt punyer minute rasa selamat, the next not....

so far, aper yg ezmah dgr...On is still on the safe side (InsyaAllah, we can storm the weather)coz On is in the right market :)...

Hopefully everything ends well!!!

Uwa said...

Tu la. dengar juga on macam ok. No rumor lagi pasal ON nak bankrupt..
Tapi boss ON cakap. Kalau management tak careful, maybe worsen la kot.

InsyaAllah. semuanye ok. Amin

Ezmah said...

Boss ON? Saper? Pakcik CFO kite ker?

uwa said...

sape lak CFO? hahahaha