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Thread: How bad is the recession hurting you or your friends?...

  1. #1

    Default How bad is the recession hurting you or your friends?...

    I was wondering with all the negative news...how bad is the recession hurting you all?,,,I know of people losing their jobs...

    The government should have more positive news...after all, you go to Jurong Point...full of people..buying and eating...go to Malaysia,,,full of people in shopping complexes...

    Have been through 4 recession...seems like every cycle is the same...we think it is bad...but there are companies making money...there are people still getting their ang pow bonuses...

    Please spread more good news....

  2. #2

    Default Re: How bad is the recession hurting you or your friends?...

    The recession hasn't affected me at all.
    I still have my job. All my sources of income and loan repayments have remained the same.
    I have a lot of shares which are now valued at around 1/3 their price, but I haven't sold them yet, so no real loss as yet.
    Things are said to get worse later in the year, so we'll never know just yet.
    ex-Nikon owner - now only iPhone :/

  3. #3

    Default Re: How bad is the recession hurting you or your friends?...

    post your sectors u work in too.

    Kind of curious which sectors are badly hit.

    I am in electronics sector and it is hit pretty badly. Retrenchment all over the place. Not my company yet but rumors that it is coming after CNY.

  4. #4

    Default Re: How bad is the recession hurting you or your friends?...

    Quote Originally Posted by pisduck View Post
    post your sectors u work in too.

    Kind of curious which sectors are badly hit.

    I am in electronics sector and it is hit pretty badly. Retrenchment all over the place. Not my company yet but rumors that it is coming after CNY.
    semi-conductor company are badly hit. next is machining company. ie what i heard from the ground.

  5. #5
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    Default Re: How bad is the recession hurting you or your friends?...

    I am in the Oil & Gas industry.......... boss still flies biz class and we still drinking bottled mineral water in office. And we moving office in Q1. Think I am pretty safe.......... hope u guys are ok out there.............
    D300|35mm f/2|85mm f/1.4|18-200 mm VR|17-55mm f/2.8 |70-300 F4-5.6|Tok 11-16 f/2.8|SB800|MB-D10|

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    Default Re: How bad is the recession hurting you or your friends?...

    Quote Originally Posted by dreaming View Post
    semi-conductor company are badly hit. next is machining company. ie what i heard from the ground.
    ya, that's why i'm thinking of getting out from semi-con industry...as i don't see the possibility of my contract being extended...

  7. #7

    Default Re: How bad is the recession hurting you or your friends?...

    hmmm... im still with the civil service & still staying... ive seen my friends lose their jobs... they have a family to feed... bills to pay... haizz... dunno if they can managed to even put food on their tables for them to eat... but my heart goes out to them... hopefully they can manage and tide over these difficult times!

  8. #8
    Senior Member azul123's Avatar
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    Default Re: How bad is the recession hurting you or your friends?...

    Quote Originally Posted by M MBR View Post
    hmmm... im still with the civil service & still staying... ive seen my friends lose their jobs... they have a family to feed... bills to pay... haizz... dunno if they can managed to even put food on their tables for them to eat... but my heart goes out to them... hopefully they can manage and tide over these difficult times!
    yup... sad for those who are out of job and have family to feed. What irks me the most is that we were told:

    oh, our fundamentals are strong we are not significantly affected.

    and later,
    oh, it is bigger than we expected.

    now,
    looks like we are in deepest recession since independence.

    Now got to brace ourselves for the ride till it is over, hope everyone here get out of this not too much affected by this recession.

    ../azul123

  9. #9
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    Default Re: How bad is the recession hurting you or your friends?...

    Quote Originally Posted by Simon_84 View Post
    ya, that's why i'm thinking of getting out from semi-con industry...as i don't see the possibility of my contract being extended...
    Even before the downturn semicon was not a good choice anymore from my perspective. Problem is that i've been in it more than 15years and moving line will likely result in paycut since I don't have an 'alternative career' so dunno what to try.

  10. #10

    Default Re: How bad is the recession hurting you or your friends?...

    Quote Originally Posted by Simon_84 View Post
    ya, that's why i'm thinking of getting out from semi-con industry...as i don't see the possibility of my contract being extended...
    same here mi in ssmc .....biz quite weak

  11. #11
    Senior Member Big Kahuna's Avatar
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    Default Re: How bad is the recession hurting you or your friends?...

    It is affecting all of us one thing or another......For example I am in financial services industry....who is the main source of this crisis......the mood and morale cannot be worst this time round in the whole organization with low business activities and non stop bad news....all of us are like walking in a long dark tunnel with no light in sight....but we still have to keep walking....hoping that we can finally see a ray of light at the end........On the other hand my sis who is also in financial services is not so lucky.....she got her pink slip last month and now still "cho bo" at home despite making calls and sending out letters non stop......although the compensation should be able to tie her our for at least 1 year....it's still very demoralizing as you are cut out from the market and you'll feel so useless for being able body but not able to do what you are capable

  12. #12

    Default Re: How bad is the recession hurting you or your friends?...

    Not affecting me, my brothers are in research, one doing training. Not affected currently.

  13. #13

    Default Re: How bad is the recession hurting you or your friends?...

    Quote Originally Posted by yumyum View Post
    same here mi in ssmc .....biz quite weak
    Wow. That's like quite a few of us in the semicon industry.... me too. Weak like hell. Haiz.
    Snap ?

  14. #14

    Default Re: How bad is the recession hurting you or your friends?...

    I work in the financial industry... ... go figure.

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    Default Re: How bad is the recession hurting you or your friends?...

    Quote Originally Posted by ianwurn View Post
    Wow. That's like quite a few of us in the semicon industry.... me too. Weak like hell. Haiz.
    well, at least we had our glorious days back then.

  16. #16

    Default Re: How bad is the recession hurting you or your friends?...

    Quote Originally Posted by ConnorMcLeod View Post
    well, at least we had our glorious days back then.
    Well, I wouldnt complain for more glorious days.

    Hahaha. Stating an obvious... sorry. Hehe....
    Snap ?

  17. #17

    Default Re: How bad is the recession hurting you or your friends?...

    I work for a Bank, but i'm in I.T.
    I'm currently not affected (and i'm on a 12 month contract, 6 months left).
    ex-Nikon owner - now only iPhone :/

  18. #18
    Member/Tangshooter dOlBy's Avatar
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    Default Re: How bad is the recession hurting you or your friends?...

    Quote Originally Posted by TroyP View Post
    I work for a Bank, but i'm in I.T.
    I'm currently not affected (and i'm on a 12 month contract, 6 months left).
    Contract employees are the worst hit in my company, I'm in IT outsourcing sector some of our clients had downsized and doesn't need that many IT engineers. Our company has to let go of some of our contract employees serving other customers, so that we can re-deploy our permanent employees to take over their job.

    My company is saving the arses of permanent staff, each time when I need to let go of a contract staff I feel so bad, some of them are really good workers better than some of our perm staff.
    Last edited by dOlBy; 23rd January 2009 at 07:27 PM.

  19. #19

    Default Re: How bad is the recession hurting you or your friends?...

    me told to find a new job
    Nikon D300s, 50mm, 18-105mm, Sigma 30mm F1.4, Sigma 50-150mm F2.8, Samyang 8mm F3.5

  20. #20

    Default Re: How bad is the recession hurting you or your friends?...

    Quote Originally Posted by dOlBy View Post
    ...when I need to let go of a contract staff I feel so bad, some of them are really good workers better than some of our perm staff.
    Luckily, I do not need to do this now. You will feel guilty of letting good staff go, not because they are no good, but because they are of "different class" - company policies.

    During good time, I always tried to convert good contract staff to perm.

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