People around the world been worried about the recession and how big the impact my company got as a local company in Malaysia. My company is doing semiconductor and a listed company in Malaysia. This recession is hitting my company badly as my company starting to cut on the production cost in order to survive from this recession.
Last month was still ok as customer still put lots of order from us, but this month and coming December month will be dropping 30% order and management started to panic about the over production cost versus income.
This month management instructed all section managers to control Over Time in all area and they even come out with 0 OT email announcement to all officer in my company. When come to less order, company shut down will be necessary to cut cost and then follow by cut headcount. And worst to worst, jobless people are increasing and impact economy in this country as well.
As people are looking at this situation is as bad as 1997 now and government still very optimize about it, but I am not sure what their reference about the impact of recession is. No more joke as I can see it myself in my company.
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