Oly cuts jobs worldwide

[nightpiper]

not too sure if this post is appropriate here. just read the news here:
http://www.forbes.com/markets/feeds/afx/2005/05/11/afx2016760.html

it says Oly is cutting about 4000 jobs worldwide to return to profitability. the global workforce is now 30,000 & after this restructuring, 26,000.


sorry, i have to Off-Topic a little here:
by looking at the number of employee from this eg, u can see 30,000 is a huge number & capable of world wide employment or deployment for a MNC. i can't help but ask myself what was our GUYS up there thinking when they say the 2 casinos & integrated resorts can create 30,000 jobs locally. dun know if our airport or CAAS has more than 10,000 employees & they claim this IR thing can create these many jobs.

whats your take fellow CSers?

 

[NMSS_2]

30, 000 no problem........for FT.

 

[nightpiper]

Foreign Talent? oh ya, never thot of that. & also not forgetting the top positions will be help by some expat from maybe Las Vegas.

but seriously, can the 2 IRs create that many jobs for local people even incl those cleaners & sweepers?

 

[eric69]

Foreign Talent? oh ya, never thot of that. & also not forgetting the top positions will be help by some expat from maybe Las Vegas.

but seriously, can the 2 IRs create that many jobs for local people even incl those cleaners & sweepers?

Direct employment (that means employed by casinos alone) could be only 10,000. But indirectly employment (ripple effect, eg retail, entertainments, properties, other tourism-related industries etc) may be 20,000. Thus add up together, 30,000.

 

[serene]

Ho much is the expected revenue - I remembered it is somewhere like $8b (i might be wrong)

 

[raycsk]

Er.... IR and jobs and photography :think:

I see potential photo opportunity of expressions of sadness, frustration, despair.

 

[eow]

liao just send mine 5050 for servicing...hope the technicians still got mood to work

 

[kktan]

liao just send mine 5050 for servicing...hope the technicians still got mood to work

LOL :bsmilie: Hope you are not :sweat: at this very moment.

:cheers:

 

[theITguy]

They are feeling the heat. See which of these digital imaging companies will go next or merger in the next 2-3 years.

 

[ahbeng]

- casino ceo x 2
- casino toilet attendants - 50 ~ 100
- casino waiter/waitress - 50 ~ 100
- casion managing staff - 50 ~ 100
- workers constructing the casinos - 50 ~ 100
- loanshark - 5000
- loanshark assistant - 500
- secret society members - 100 ~ 500
- help line for people who want to commit sucide - 500
- hospital medics to assist people beaten up by loanshark - 500
- policemen catching the loansharks - 500
- CID investigating gambling related crimes - 500
- workers constructing the expansion of prision - 50 ~ 100
- and many related staff

dun pray pray ah, its a lot you see.

 

[mpenza]

not really related. service oriented industry require more people. and it's going to be a 24 hour biz right which would mean 3 shifts of pple at least.

 

[bariq]

but seriously, can the 2 IRs create that many jobs for local people even incl those cleaners & sweepers?

NO

Er.... IR and jobs and photography

I see potential photo opportunity of expressions of sadness, frustration, despair.

Yeah sure, provided they want pics to be taken in that state

- casino ceo x 2
- casino toilet attendants - 50 ~ 100
- casino waiter/waitress - 50 ~ 100
- casion managing staff - 50 ~ 100
- workers constructing the casinos - 50 ~ 100
- loanshark - 5000
- loanshark assistant - 500
- secret society members - 100 ~ 500
- help line for people who want to commit sucide - 500
- hospital medics to assist people beaten up by loanshark - 500
- policemen catching the loansharks - 500
- CID investigating gambling related crimes - 500
- workers constructing the expansion of prision - 50 ~ 100
- and many related staff

dun pray pray ah, its a lot you see.

The best analysis ever, got me and my collegues laughing like crazy... thanks for making all of us laugh.

 

[nightpiper]

Direct employment (that means employed by casinos alone) could be only 10,000. But indirectly employment (ripple effect, eg retail, entertainments, properties, other tourism-related industries etc) may be 20,000. Thus add up together, 30,000.

although sounds very reasonable but the ripple efx like very vague leh. can be anything & any number, eg, SIA needs to recruit more people cos more tourist coming to s'pore. then SBS & MRT also need to recruit more people cos of the increase in traffic, thus increase train/bus freq, etc.

i like the way ahbeng breaks it down. :bsmilie: :bsmilie:

as for mpenza, although the casinos run 24hrs, but my experience is that u still dun need that many people to do it. eg, SIA & CAAS. they run 24hrs with almost everyone doing shift but they dun have that many staff. thats why i m very skeptical by the estimated no. of jobs that can be created. i guess its another of those beautiful pics the GUYS wanted to paint us to justify the approval.

anyway, i also sent in my FL36 flash for servicing & i believe the guys at Oly will still do a professional job despite this disturbing news. also heard that it affected 2 china factories the most. lets hope our Oly here escape this axe. :sweat:

 

[maddog]

- casino ceo x 2
- casino toilet attendants - 50 ~ 100
- casino waiter/waitress - 50 ~ 100
- casion managing staff - 50 ~ 100
- workers constructing the casinos - 50 ~ 100
- loanshark - 5000
- loanshark assistant - 500
- secret society members - 100 ~ 500
- help line for people who want to commit sucide - 500
- hospital medics to assist people beaten up by loanshark - 500
- policemen catching the loansharks - 500
- CID investigating gambling related crimes - 500
- workers constructing the expansion of prision - 50 ~ 100
- and many related staff

dun pray pray ah, its a lot you see.

how come more loansharks than construction workers? :bsmilie:

 

[Expiredyoghurt]

yeah .. and more loan sharks than loanshark assistants? ... also need more CID and mor SS members ... at least double the number of help line staff too

 

[nightpiper]

now i can see the ripple efx. loan sharks need to buy more pig head, chicken blood, etc. they also need paint (to splash on doors) & spray cans (O$P$). suppliers need to stock up more inventories & also new suppliers will pop out cos there's a bigger marjet now. :bsmilie:

then the gamblers kena whack by loan shark assistant need to see dr. so dr revenue from medication also goes up. medication suppliers also need to hire more workers to keep up with the demand. :bsmilie:

the list goes on.... :sweat: & this can easily bring full employment to the nation & not just 30,000 jobs only.