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Intel Closure Results to Job Loss Panic in Philippine Labor Sector

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Last week, upon Intel, admitting that they are indeed to close anytime soon in the news caused panic and an alerting scenario to workers not just in the multinational company employees but also to the whole workers population here in the Philippines. Amid the claims by different government officials and authorities that the Philippines is less likely to suffer from the effects of the global economic recession, This news burst and is enough to generate speculations that there will be more companies here in the Philippines to follow soon.

For now, there are already a wide panic caused by this news and situation in the Intel media admittance of closure. Just last night, there are other rumors causing panic due to more incidents seen in the movement of executives of different multi-national companies here in the Philippines. Add to this, many factories are said to be lessening the working hours of employee just to cope up with the crisis.

This, according to the statistics in another separate reports in the late night news last night, January 28, 2009, said that the condition today is even worse than the 1997 economic crisis that the Philippines have been through. I just hope that the world can recover from this fall soon so that people from all over the world can still go on with their respective lives with no worries.

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