The Star Online published on 29 Jan 2009 that according to The Malaysian Employers Federation (MEF), 10,000 Malaysians have lost their jobs since Jan 1. And more are expected to lost their jobs as companies are trying to keep themselves afloat. Outside of Malaysia, on 28 Jan 2009, The Star Online reported that 80,000 lose jobs in US and Europe while Iceland government collapses. The figures are increasing drastically.
It's going to be a tough decision for most employers but it's tougher for those affected employees. How are they going to survive without their pay cheques? How about their monthly house or car installment? And the kids? How long can the current saving last? Where to find a new job? It's going to be a hard time for these employees.
And of course these job cuts will directly affect the nationwide economy and world economy as a whole.Without job and income, with controlled and tight spending, there will be less business transactions conducted.with less cash circulating in business market, how can the global economy crisis recover?
Let's pray that these affected employees will find a new job very soon and there will be less job cuts.