Layoffs in the Philippines not that bad?
February 8, 2009
At a time when job cuts are happening at an uncontrollable rate around the world, Filipinos apparently still have something to be glad about. A recent study by recruitment specialist Antal International showed that the Philippines is currently one of the countries with the highest hiring rates around the world.
Despite several job layoffs in the Philippines, 70% of the firms in the Philippines are currently hiring at managerial/professional level. This number will still rise in the next few months as 76% of companies are expected to hire managers and professionals.
Only 3 percent of companies, on the other hand, are currently firing employees while 10% are reducing the number of its workers.
Compare this with other Asian countries. Singapore has the highest firing rate in the region with 54% of companies currently laying off managers and professionals and another 15% expecting to let managers and professionals go.
In China, only 43% are currently hiring and another 20% expecting to hire in the coming months.
In India, only 29% of companies are hiring professionals and managers and another 43% are looking to hire.
That’s the silver lining for Filipinos in this recession. But of course, if you were one of those employees recently fired, then there’s not really much to be happy about.
Source: Yahoo News
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