BASF, the world’s largest chemical company, delivers another bad news to the employment market after announcing its plan to temporarily shut down 80 of its plants worldwide.
The decision came as the company is hit with a serious decline in demand triggered by the present global economic crisis and financial meltdown.
A big number of staff would [...]

Staff working with America’s largest automotive companies - General Motors (GM), Ford and Chrysler are facing the possibility of losing their job as hope to revive the three ailing companies through the US government bail out is diminishing.
The three major automakers are in desperate situation to tap into the US$700 billion rescue package unveiled by [...]

Despite the inceasing economic pressure, Malaysia’s second finance minister Tan Sri Nor Mohamed Yakcob is adamant that the unemployment rate would not go beyond 4%.
According to him, the rate will stay between 3% to 4% for both this year and next year even though some companies have begun their plan to reduce their workforce size, [...]

Citigroup’s job cut wave seems to have arrived in Malaysia, sparking fear of job loss for some of the 4,000 staff the group employs under its flagship bank, Citibank.
In a news published by the Business Times, the CEO of Citibank Malaysia, Sanjeev Nanavati was reported to say that “staff numbers will be cut slightly as [...]