Sam G, who works in the electronics sector, shares with us the grim outlook in the industry and the ruthless way workers – and even management staff – are being retrenched:
…. it is REALLY, REALLY BAD now. I was at the USM EKSPEN 09. Only 11 companies were there having open interviews! This is one Expo to get companies to interview graduating USM students!
I have been retrenched twice in four months, first by the largest lab equipment manufacturer in the world, and the second time, by a NanoTech equipment manufacturing company.
Orders have dropped by 40-60 per cent in many companies in Penang. SMI factories supporting the MNCs and the larger companies are winding up/closing shop by the dozens…
I don’t know how the Government continue to paint an “okay” picture. I can give you more real life stories…
The big question now is, what kind of social safety nets do we have in place to look after the families of retrenched workers? How are they going to manage? Is “retraining” alone enough?
Many have been asking for a national retrenchment fund.