A big company with 500 employees disbanded last week

@ktosea (2026)
China
January 27, 2009 8:51pm CST
it's a Fortune 500 and I just know that the company disbanded last week,their employees been all dismissed with a reparation of extra two more monthes'salary. the building is just 100 yards far away from our company,I am shocked when I hear this news.now their are 500 more people lost their jobs,I hope they can find other jobs soon. the recession really sucks,I can not understand why the recession happens?
1 person likes this
6 responses
machel2008
@machel2008 (616)
• China
28 Jan 09
bad news,the recession is really sucks,i have heard so many company disband news recently three month.many recognizanted person loss job.it is really terrible,why the recession happens?and when this recession will be pass?how about our future?.......happy mylotting and good luck for everybody........
1 person likes this
machel2008
@machel2008 (616)
• China
28 Jan 09
right,we hope everything will be pass soon..........
ktosea
@ktosea (2026)
• China
28 Jan 09
hope everything will go back to a stable status as before
ketybhagat
@ketybhagat (4123)
• India
28 Jan 09
Imagine when Fortune 500 companies buckle under this recession period, what must be the state of other ordinary companies. I dread to think what could happen. How many more people are going to be jobless. What will happen to their families. Hope this dark period disappears soon and we see a lot of improvement in the health of companies, and smiles on employees faces. Amen.
1 person likes this
ktosea
@ktosea (2026)
• China
28 Jan 09
It's so kind of you,I hope so too.
vanities
@vanities (11395)
• Davao, Philippines
28 Jan 09
hi ktosea...that was sad,,i mean unemployment is racing high...afraid also what will happen next..even in my husband's work are been planning to laid off some of the employees and take note its a government agency at that..how much more with the private firms...i guess this all happens when a wrong turn or decision in a certain company or big firm happens...
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ktosea
@ktosea (2026)
• China
28 Jan 09
goverment agency in our country will never laid off some of the employees,they do not work for the people but like bandit of the people,even when we are suffering from the recession thing,they have money to do anything they want.
angusthethird
@angusthethird (515)
• United States
28 Jan 09
I believe there is a certain law on the books that provides for 60 days notice. A company can't just up and announce that it is breaking up, or closing, or whatever. If this company was forced to go the way of the Beatles, it should have given its workers enough notice. How much notice was these people given?
ktosea
@ktosea (2026)
• China
28 Jan 09
I am not sure about how much notice these prople were given,I think there is a certain law here,the employees may have got noticed before.but it's new year time here and I don't think they have find other jobs already
siomaiii
@siomaiii (238)
• Philippines
28 Jan 09
That information is so depressing. I also read from the news that more big companies are terminating thousands of their employees. I'm from the Philippines, and more Overseas Filipino Workers are coming back here in the country for they were laid off. I hope these people have enough savings to survive recession.
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ktosea
@ktosea (2026)
• China
28 Jan 09
yes,the recession thing even affects directly,I want to find another job but now it's a tough time
gie2910
@gie2910 (407)
• United States
28 Jan 09
OMG, that is so so sad. I feel so sorry for them
1 person likes this