Talk on headcount reductions in Penang continues to be the order of the day as technology giants take the cue or are preparing to do so from their parent companies overseas.
It is not known whether a deadline was given to those affected and what would happen if they are unable to find other work within Dell.
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MALAYSIA’S central bank cut its key rate by 50 basis points to 2 per cent on Tuesday due to rising concern about the country’s economic growth.
Bank Negara Malaysia also cut the commercial banks’ statutory reserve requirement by 100 basis points to 1 per cent effective March 1.
This was the third straight rate cut in as many meetings and came after a shock 75 basis point cut in January.
Six out of 13 polled economists predicted a rate cut of 50 basis points, while seven had expected no change in a Reuters poll. – REUTERS
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In New York there is an enduring image of the darkest days of the Great Depression – jobless men so desperate for work that they roamed the streets as living billboards.
Now the unthinkable has become the harsh reality once more as America sufers an other deep recession. After nine fruitless months of looking for work one-man that desperate time required desperate measures.
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US legislators approved a massive government bailout of the ailing automotive industry as a raft of fresh data further evidence of a deep and painful global recession.
South Korea cut its key interest rate to a record low, Australia announced its highest monthly unemployment figures for a year and the Asian Development Bank said growth in Asia would slow next year.
China, which on Wednesday Dec 10th 2008, announced its first fall in exports in seven years, in a sign the global slowdown is hurting exports.
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