Hi Guys,

Im opening this thread... so that everyone out there can share with all of us on whats happening with our global economy. From what i know, this time the economy went to critical stage...a lot of companies is under pressure... Those working in MNC company, can feel this...

Well, about my company Spansion Inc, one of the largest semiconductor company is also in critical stage... right now, they plan to shutdown the factory for 4 weeks in this 1st quoter of 2009. Also, they are planning to merge / sell with other giant company...

So, what about your company...?

Illinois-based Nat'l Bank of Commerce closed

ll.-based National Bank of Commerce was closed by regulators Friday, marking the first bank failure of 2009, the Federal Deposit Insurance Corporation said in a statement.

National Commerce Bank had total deposits of $402.1 million as of Jan. 7, and total assets of $430.9 million, the FDIC said.

Republic Bank has agreed to buy roughly $366.6 million in National Commerce Bank's assets at a discount of $44.9 million.

Circuit City Closing Its Doors Nationwide (567 Stores To Close)

PITTSBURGH - Unable to find a new buyer by Friday’s deadline, electronics retailer Circuit City will soon be forced to close its doors.

The company had been closing some stores since November while trying to emerge from bankruptcy, but fell victim to a bad economy, poor electronics sales and too much competition.

At the end of March, all of Circuit City’s 567 nationwide stores will close, including several in the Pittsburgh area.

An estimated 34,000 employees will lose their jobs when the retailer closes.

AMD to cut 1,100 jobs and slash salaries across company
The cuts will affect about 9% of the company's workforce

Chip maker Advanced Micro Devices will shed 1,100 more jobs and cut salaries as it tries to reduce costs in a tough economic environment.

Intel to shut four plants, lay off 6,000

Intel Corp. took two corrective steps this week, aggressively slashing prices on chips on Monday and announcing today that it would close four chip plants and cut as many as 6,000 jobs.

Intel said it would close close two assembly and test facilities -- one in Penang, Malaysia, and another in Cavite, the Philippines. It said it would also stop production at two wafer-production plants: Fab 20, an older 200mm wafer fabrication plant in Hillsboro, Oregon; and D2, a facility in Santa Clara, California.

-- source computerworld.com

After most of the companies are reducing their staff, today Spansion Inc announce that it will layoff 35% or 3000 staff world wide. In KL targeted around 30% while in Penang about 60% layoff. This will make about 1000 staff in Malaysia.

EDIT: This layoff is to be done before 3rd March 2009.

Well, the world economic is getting worst and worst... The most affected industry is manufacturing (electronic / semiconductor / etc). So far, the only industry that not directly affected is government healthcare and education. But in some countries, the education is partially affected. So, apply for government job