Worldwide "Lay-Offs" Expected 2020

To bad not enough Filipino's named  Peter and Paul otherwise they could rob Peter to pay Paul and maybe stay ahead of the economic crisis

Works in US and UK

lasvegan wrote:

To bad not enough Filipino's named  Peter and Paul otherwise they could rob Peter to pay Paul and maybe stay ahead of the economic crisis

Philippine Airlines just laid off 300 employees due to revenue losses over travel restrictions and flight suspensions to areas affected by the novel coronavirus.
Not sure if both are jobless now!

Many more in the pipeline!

https://www.google.com/amp/s/www.bloomb … h-overhaulhttps://www.google.com/amp/s/news.abs-c … s-outbreak

Just yesterday my brother in law (n.o)
who stays with us, and working as a sales promoter in "Metro" (Surigao City) was put on a 4day work week (fm an earlier 6day work week) with a proportionate salary cut....
so its hit home already.

This is another article which is worrying!

https://www.google.com/amp/s/www.washin … utType=amp

That should bring down the carbon footprint.

1.2 B is not a lot of money depending on how many they expect to be laid off.

Philippine Destiny wrote:

That should bring down the carbon footprint.

It already has. And apparently the skies over Italy haven't been this clean in years since they burn a lot of diesel and transportation has plummeted.

AaronAardvark wrote:

1.2 B is not a lot of money depending on how many they expect to be laid off.

Agreed..
thats all they can afford for now, as they have many other local issues on their plate....all hitting them a once!

Hello everyone,

We had to heavily moderate this topic since it started to slide into a conspiracy theory.

Please stay focused on the initial statement.

Thank you very much.

Regards.

Loïc

https://www.google.com/amp/s/www.cnbc.c … pikes.html

Lets start with China!
Roughly 5 million people in China lost their jobs in the first 2 months of 2020.

And next the USA!
https://www.google.com/amp/s/www.cnbc.c … ssion.html

Loïc wrote:

Hello everyone,

We had to heavily moderate this topic since it started to slide into a conspiracy theory.

Please stay focused on the initial statement.

Thank you very much.

Regards.

Loïc

We have to moderate the people calling to heavily moderate any topic.

Its just started :

https://www.google.com/amp/s/www.nytime … s.amp.html

And now Europe predictions:

https://www.aa.com.tr/en/economy/un-bod … 19/1771040

Now predictions fm Australia

https://www.google.com/amp/s/amp.theaus … 7ff7fc360a

manwonder wrote:

Just yesterday my brother in law (n.o)
who stays with us, and working as a sales promoter in "Metro" (Surigao City) was put on a 4day work week (fm an earlier 6day work week) with a proportionate salary cut....
so its hit home already.

This is another article which is worrying!

https://www.google.com/amp/s/www.washin … utType=amp

Today Metro (Surigao) has officially closed its 2nd & 3rd floor (Dry goods section)
The ground floor (Grocery section) will remain open for business.
(Approx 80 staff have been asked to stop work and will only be required to return end April.)

manwonder wrote:

manwonder wrote:

Just yesterday my brother in law (n.o)
who stays with us, and working as a sales promoter in "Metro" (Surigao City) was put on a 4day work week (fm an earlier 6day work week) with a proportionate salary cut....
so its hit home already.

This is another article which is worrying!

https://www.google.com/amp/s/www.washin … utType=amp

Today Metro (Surigao) has officially closed its 2nd & 3rd floor (Dry goods section)
The ground floor (Grocery section) will remain open for business.
(Approx 80 staff have been asked to stop work and will only be required to return end April.)

This is not surprising, ever snap a rope and see the ripple go to the other end?

1. Nonessential employees told to stay home.
2. Transportation modes shut down.
3. People restricted to their home under government orders.
4. Essential employees cannot get to work.
5. Essential employees do not report to work, reason #2,3,4 and because they fear getting sick.
6. Income streams have stopped, GDP  (Gross Domestic Product) goes down: local, national, international.
7. Under reaction by population or government,
8. over reaction by population or government.
9. Fear, gossip, fake news, no news, contradicting news.
10. The warehouses supplying food go empty, other supply chains shut down.
11. The fallout is worse than the disease.
12. Remember Orson Welles War of The Worlds? The world going amok over a radio show and now the Corona Virus.

"There is one way to tell if a person is honest, ask them. If they say yes they are a crook."

"The secret of life is honesty and fair play. If you can fake it, you've got it made."

"Behind every successful man is a woman, behind her is his wife."

"Women should be obscene and not heard."

"I was married by a judge, I should have asked for a jury."

Quotes from Groucho Marx

Many more OFW's/locals may loose their jobs in the coming weeks;

OFW's who would be "seriously" affected are Filipino seafarers  working in passenger cruise and cargo ships.


https://www.google.com/amp/s/www.manila … 98527/amp/

Royal Caribbean, Celebrity and Princess Cruises have shut down for 60 days, saying they will be back cruising on 5/14/20.  Carnival and Norwegian are expected to make similar announcements about 5 PM Friday in the USA.  In addition all Alaska cruises and eastern Canada cruises are off until July 1st as Canada has closed all of their ports to all cruise ships.  That means about 15 ships will not be sailing until July at the earliest.
Thousands of workers have been sent home at the expense of the cruise lines per their contracts.  Most sign a contract for 6 to 8 months followed by 2 months off before a new contract.  The effects will be felt if the cruise ships take more than 60 days off, now they are lounging at sea with skeleton crews.  Normal crew size is from 800 to 1300 depending on the size of the ships. Most make at least 40,000 pesos a month plus free room and board for at least 60 hour work weeks, hardly ever get a day off.  Still a great deal, but by June the economics of no cruising will be felt all over the islands.

mugtech wrote:

Royal Caribbean, Celebrity and Princess Cruises have shut down for 60 days, saying they will be back cruising on 5/14/20.  Carnival and Norwegian are expected to make similar announcements about 5 PM Friday in the USA.  In addition all Alaska cruises and eastern Canada cruises are off until July 1st as Canada has closed all of their ports to all cruise ships.  That means about 15 ships will not be sailing until July at the earliest.
Thousands of workers have been sent home at the expense of the cruise lines per their contracts.  Most sign a contract for 6 to 8 months followed by 2 months off before a new contract.  The effects will be felt if the cruise ships take more than 60 days off, now they are lounging at sea with skeleton crews.  Normal crew size is from 800 to 1300 depending on the size of the ships. Most make at least 40,000 pesos a month plus free room and board for at least 60 hour work weeks, hardly ever get a day off.  Still a great deal, but by June the economics of no cruising will be felt all over the islands.

On April 14th I wouldn't take a free ticket, If Corona doesn't get you, Norovirus will, take your pick.

lasvegan wrote:

Works in US and UK

Pedro is robbing Paulo in Brazil all the time. Now Paulo is eyeing to rob Maria and Maria is targeting Petra. Now that´s a good economic cycle. Has been going on since Brazil was founded by the Portuguese!

W9XR wrote:

mugtech wrote:

Royal Caribbean, Celebrity and Princess Cruises have shut down for 60 days, saying they will be back cruising on 5/14/20.  Carnival and Norwegian are expected to make similar announcements about 5 PM Friday in the USA.  In addition all Alaska cruises and eastern Canada cruises are off until July 1st as Canada has closed all of their ports to all cruise ships.  That means about 15 ships will not be sailing until July at the earliest.
Thousands of workers have been sent home at the expense of the cruise lines per their contracts.  Most sign a contract for 6 to 8 months followed by 2 months off before a new contract.  The effects will be felt if the cruise ships take more than 60 days off, now they are lounging at sea with skeleton crews.  Normal crew size is from 800 to 1300 depending on the size of the ships. Most make at least 40,000 pesos a month plus free room and board for at least 60 hour work weeks, hardly ever get a day off.  Still a great deal, but by June the economics of no cruising will be felt all over the islands.

On April 14th I wouldn't take a free ticket, If Corona doesn't get you, Norovirus will, take your pick.

Not gonna be much cruising for a while.  I'm looking for us at spring 2021 at the earliest.  I'm hoping all the Filipino mariners can get back to work serving people other than me.

And the Nordic region;

With 660,000 Job Losses, Rich Nordic Economies Are in Deep Shock

https://www.google.com/amp/s/www.bloomb … deep-shock

ILO : COVID-19 causes devastating losses in working hours and employment:

https://www.ilo.org/global/about-the-il … /index.htm

Just like what W9XR mentioned:
11. The fallout is worse than the disease.

Sad news!!!...thousands of local OFW's are seen returning to the philippines!!

https://businessmirror.com.ph/2020/04/1 … -pandemic/

Its really a stressful time for everybody!

Its sad...news gets worse by the day!

https://www.google.com/amp/s/www.bloomb … hilippines

manwonder wrote:

Its sad...news gets worse by the day!

https://www.google.com/amp/s/www.bloomb … hilippines

An important thing to remember, the educated high wage earner is not an OFW domestic housekeeper or domestic servant.

Thousands & thousands  of professional  Filipinos working world wide.

Many will never return, but their money will always flow back to home.

Agreed...Report reflects only those with *contracts / excluding those highly qualified professionals!

"The number of Overseas Filipino Workers (OFWs) who worked abroad at anytime during the period April to September 2018 was estimated at 2.3 million.  OverseasContract Workers (OCWs) with existing *work contract comprised 96.2 percent of the total OFWs during the period April to September 2018"

And the sad state of job losses continue in Eurozone region!

https://sg.news.yahoo.com/eurozone-econ … 32321.html

manwonder wrote:

Agreed...Report reflects only those with *contracts / excluding those highly qualified professionals!

"The number of Overseas Filipino Workers (OFWs) who worked abroad at anytime during the period April to September 2018 was estimated at 2.3 million.  OverseasContract Workers (OCWs) with existing *work contract comprised 96.2 percent of the total OFWs during the period April to September 2018"

I think the real difference between these OFW with contracts, just that contracts. The Filipios  I met in Las Vegas were professionals & they dominate the nursing industry in the states and probably and do make a sizeable impact in the western world.

My wifes Filipino friends in Las Vegas, owned small nursing homes & businesses that staff home care.

She had two cousins that retired with pensions from casinos, when they retired, sold their home for $400,000 USD, took the money, pensions, ss and returned to the Philippines.

Like you say the returning OFW's, even low paid, (but good pay compared to the Philippines) will have a big impact because there were millions of them.

When $8 trillion in global fiscal stimulus still isn’t enough!...Never seen/heard of such damage being done!

https://www.google.com/amp/s/www.bloomb … n-t-enough

And now...India’s Jobless Rate Jumps to 27.1%, Survey Says

https://www.bloomberg.com/news/articles … emium-asia

manwonder wrote:

And now...India’s Jobless Rate Jumps to 27.1%, Survey Says

https://www.bloomberg.com/news/articles … emium-asia

That´s worse than the unemployment rate in 1930´s global depression at around 25%...

robal

robal wrote:

manwonder wrote:

And now...India’s Jobless Rate Jumps to 27.1%, Survey Says

https://www.bloomberg.com/news/articles … emium-asia

That´s worse than the unemployment rate in 1930´s global depression at around 25%...

robal

Yup..."scary" %

manwonder wrote:

robal wrote:

manwonder wrote:

And now...India’s Jobless Rate Jumps to 27.1%, Survey Says

https://www.bloomberg.com/news/articles … emium-asia

That´s worse than the unemployment rate in 1930´s global depression at around 25%...

robal

Yup..."scary" %

I cannot read bloomberg news, no prescription. Any work-a-round?

Pse subscribe for Bloomberg News only after taking your medicinal prescription! 

India’s Jobless Rate Jumps to 27.1%, Survey SaysBy

Anirban Nag
5/5/2020, 1:49:09 PM