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5000 jobs go as crisis bites


JennyG
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Hey guys! I know there's been a lot of negativity going on lately re the world economic crisis and the impact is has on Oz, but one can't help to worry if you read stuff like this. This is only part of a article I copied that was posted in The Canberra Times yesterday:

5000 jobs go as crisis bites

26/02/2009 2:27:00 PM

Thousands of Australians will be wiped from companies' payrolls as the economic downturn continues to bite and expectations of corporate growth wane.

In the past two days alone, three announcements of large-scale cut-backs have left more than 5000 people facing the prospect of unemployment - and prompted a senior government figure to say that no Australian job is safe.

Those job cuts have hit three distinct sectors - property, manufacturing and mining.

And that comes as the reporting season, where companies listed on the Australian Stock Exchange tell investors how much they've made - or lost - highlights a growing number suffering a worse financial fate than they had last year.

Lend Lease today joined the the ranks of other well-known Australian companies - including Bonds manufacturer Pacific Brands - when it announced it would shed 1700 staff to limit the impact of the global financial crisis.

Australia's biggest property developer will cut staff over the next six months as it moves to improve its financial position. Today it posted a $600 million loss for the first half of the 2008-09 financial year.

Lend Lease chief executive Steve McCann said the company was reducing its head count in response to slowing momentum and volumes.

"The group has implemented a number of cost reduction initiatives to resize some of our overheads in line with current market conditions," he said.

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This is really bad... I work for a small company in Brisbane and we also had to let some people go. I am just so glad that I am not one of the new immigrants coming to Australia during these difficult economic times.... good luck to all of them.

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Have you seen the stats about how many people in SA will be losing their jobs? A friend was retrenched Wednesday, home by Thursday. No warning, nothing.

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I agree with you Polly. My brother's company is on the bridge of closing their doors. My brother-in-laws boss told him today that if they don't get new contracts soon, than they'll be closing too (they are in construction). My sister, living in USA, says hundreds and hundreds of people are loosing their jobs. So yes! By all means, it is all over the world. I think ones best option at the moment is to keep what you have. Think it is very irresponsible to leave a job in SA and walk right into this crisis - first in first out! Just my opinion.

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Australia doesn't have the same kind of laws governing employment. They don't work on a lat-in-first-out basis. They let go the underachievers....

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Australia doesn't have the same kind of laws governing employment. They don't work on a lat-in-first-out basis. They let go the underachievers....

We talk about world wide crises and how it is impacting OZ. I was wondering how the economic down hit South Africa. Haven' heard anything about it. Do people get retrenched as well or is it not so bad over there?

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Loads of my friends have been retrenched in RSA this month, I dont know anyone personally who has lost their job in oz.

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Some articles:

http://www.iol.co.za/index.php?set_id=1&am...50621425C681664

Solidarity, one of the labour unions that has gathered information on recession, has estimated that more than 25 000 workers may currently be affected by possible retrenchments.

Stimulus package

http://www.iol.co.za/index.php?set_id=1&am...64905340C680001

Goolam Ballim, the chief economist with Standard Bank, told Weekend Argus a full-blown recession could result in 500 000 jobs being lost; however, the rescue package being drawn up by a task team set up by President Kgalema Motlanthe was a positive development which could prevent widespread unemployment.

New laws about employment in the workplace:

50/50 gender equality (and you were struggling with AA??)

http://www.iol.co.za/index.php?set_id=1&am...34304928C585244

Government is considering a law that will force companies and the state to implement 50/50 gender equity, according to the Minister in the Presidency Manto Tshabalala-Msimang.

Even Madame Zingara was influenced, was liquidated :ilikeit:

http://www.iol.co.za/index.php?set_id=1&am...52456967C117396

Edited by polly
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We talk about world wide crises and how it is impacting OZ. I was wondering how the economic down hit South Africa. Haven' heard anything about it. Do people get retrenched as well or is it not so bad over there?

Job losses are impacting in RSA too.

Anglo platinum has shed 10 000 jobs in the Rustenburg area and a further 9000 Angloamerican will go worldwide.

According to Statistics SA, the economy shed 70 000 jobs in the third quarter of 2008 and some experts estimate that 250 000 workers could be retrenched as a result of the global crisis.
see Article-Engineering news

My sister in law spoke to her Mum who said " Everything is fine here, the SABC says South Africa will be fine".

Job losses are headline news here in Australia whereas in RSA you first have to read about, Zuma, murder, fraud, violence etc to find the economic news.

The 2010 world cup is used as a reason that RSA will ride the tide, it may well help in the short term-but afterwards?

Australia doesn't have the same kind of laws governing employment. They don't work on a lat-in-first-out basis. They let go the underachievers....

Polly, I don't know if I agree with you on that one- that would not comfort my brother in law in any way, he was made redundant by BMA two weeks ago, he is a drill and blast Engineer, but has been part of the business improvement section of BMA, based in Brisbane.

The entire department was disbanded- a loss of 30 senior jobs- they can't all have been underachievers.

Ironically, had he remained in RSA he would also have been made redundant from his more senior position there.

My husband works for Anglo, they have asked people to come forward for voluntary redundancy- on Monday the staff will be informed who will lose their jobs, after that if the cull has not removed 20%, underground workers will be next.

Traditionally Anglo applies a LIFO policy- I hope they do not here as we are the last ones in.

Nailbiting times for all of us.

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Sorry, I didn't mean to imply that they are only letting go under-achievers or that if you are retrenched, you are an under-achiever. From the people I have spoken to in Melbourne, it seems they just don't keep you on because you had been working for a company longer than someone else. You get evaluated on merit at most places, or at least it seems to be the case. A whole department being retrenched is a different issue entirely.

PS some good news:

http://www.news.com.au/heraldsun/story/0,2...58-2862,00.html

Edited by polly
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No problem Polly- there was no offense taken in any case!

I am really flumoxed as to how they decide who goes.

As I said my hubby works for Anglo coal and 20% of employees at 5 mines in the area will lose their jobs.

Only a few people will take redundancy and on Monday the staff ( office workers) will be told who is going, staff is very overinflated as lots of jobs were " created" during the boom, but what do you do- lay off people near retirement, lay off recent employees etc?

Plus the rumour is that around 30 underground people will go too- so do you cut 20% of workers right across the board, meaning a selection of engineers, production supervisors, miners, tradies and technicians?

There are no excess artisans, there do seem to be a lot of technicians( operators) and as in any workplace- more chiefs than Indians!

I would hate to have to make the cut or be part of the cut.

I honestly don't think performance will play a part here, everyone does their job well otherwise they would have been weeded out long ago.

Frankly I am stressing- I still feel that as last in and visa holders to boot, there would be a bigger outcry if an Australian electrician was retrenched in place of my hubby.

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Oh no, Andrea, I thought the nail biting part was over a few weeks ago?

Please keep us posted, I know this must be so stressful for you...

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Well they say no news is good news and we seem to have survived the cut so far- I would hate to be one of the poor buggers who will get the chop today.

Part of my stressing is that it has taken us 3 years, after arriving with nothing, to get to a place where hubby is fairly happy in his work, the kids are settled, I live in a lovely house and my mindset is where I would want it to be- Instead of living to get through this week or even this month I am looking toward a brighter future, one where I can plan and dream.

I just don't want it taken away through world economics, bad timing, pot luck etc.

One positive though- I googled Electrician jobs in the mining gas and oil field Electrician jobs and there are still jobs out there, so artisans are still needed.

p.s I am reminded of two quotes " When your neighbour loses his job it is a recession, when you lose yours it is a depression" and from a hysterically funny saffer at hubbys work " Have you heard about the new visa for 457's - It's called the 747"

Edited by AndreaL
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Loads of my friends have been retrenched in RSA this month, I dont know anyone personally who has lost their job in oz.

Sadly, I know many people who have been retrenched over here in Aus. I figure my number will be up shortly too.

I know a couple of people who have been retrenched in SA too, but no where near as many as over here.

It stands to reason that most newcomers will know of more people being retrenched in SA, because that is where the bulk of the people you know, live.

Just IMO - the economic downturn has hit Aus WAY worse than it has hit SA. However, I think that SA will too have their turn... it will come there too.

Edited by Gizmo
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I met lots of old schoolfriends through Facebook, and one of them has just received a retrenchment letter in South Africa. He is devastated. It is really hitting hard, all over the world.

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Loads of Conveyancing secretaries lost/are loosing their jobs because of the slow property market...and there is NOTHING to apply for....We never got increases last year and took a 10 paycutt as well. No more bonusses etc etc. Our company retrenched about 15 people already...Is definately happening just kept very hush hush. Not sure why...

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Is it 5000 jobs in one specific sector or for one specific month or is it overall? Because if it is overall since the start of this crisis, then Australia has no problem compared to Canada and the USA. Read here to see the amount of jobs lost in Canada since the start of this crisis, 129 000 in January 2009 alone:

http://www.financialpost.com/story.html?id=1260454

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