Global recession hits Lanka: Companies cut workforce

  • 17 Mar 2009 17:51:38 GMT

    [ In Sri Lanka, 50,000 private sector employees are expected to lose jobs this year. Sadly though, the government has not worked out any plan to ensure the welfare of those who may be pushed to the streets ]

    An economically required tightening and restructuring of SL would make probably more than 500.000 redundant, but there ain`t no option in a very competitive global market.

    Southeast Asia and India are International factors with products and services that generate income to live on.

    SL is 100% depending on charity, foreign workforce, China, Iran and donations.

  • 17 Mar 2009 20:39:02 GMT

    Isn`t Obama & Sarkozy was advice to follow Sri Lankan economic miracle by the ruling party minister recently and Sri Lankan pundits because Sri Lanka economy was steaming ahead unlike US,Europe,Australia,New Zealand to name a few.Must check with Daily News for accuracy of this new item.Why attack the ruling government for not having a plane for people who lose jobs as TBI mention any one loose there job because they will be snapped up by other companies who are struggling with shortage of skilled workers more to the point why plane there is no recession in Sri Lanka.

  • 17 Mar 2009 20:48:32 GMT

    And.... if and when the war ends, what about all those soldiers?

    But I am `glad` some of your politicians are waking up, better late than never, not that it will matter, even the western world hasn`t got the faintest idea how to give this disaster a soft landing.

  • 17 Mar 2009 21:18:34 GMT

    [We are so unlucky here that we have neither a govt nor opposition who has macro economic policy to stop retrenchemts.]

    MR wants his people to ignore the law and Due Process. Hence policies are a heavy burden for any government led by MR

  • 18 Mar 2009 04:50:29 GMT

    [In Sri Lanka, 50,000 private sector employees are expected to lose jobs this year.]

    How many in the public sector will lose their jobs, if at all? Who ever may lose their jobs, NO ONE in the Jumbo Cabinet will lose the job or even any of the perks. Any bets?

  • 18 Mar 2009 14:23:11 GMT

    [SL is 100% depending on charity, foreign workforce, China, Iran and donations.]

    If all these add upto 100% what about tea exports?

    `Nikan boru kiyannathuwa hitapaban` -:)

  • 18 Mar 2009 14:35:50 GMT

    SL has a giant trade deficit, what means that exports don`t cover the imports.

    Tea is only very little worth so that a tea picker salary for one month of perhaps $40 is the result.

    $40 are necessary to buy enough fuel for a van to drive some 200km.

  • 18 Mar 2009 21:47:45 GMT

    Freedom1

    [SL has a giant trade deficit, what means that exports don`t cover the imports.]

    When hasn`t it been so???? For donkeys years whether it was the UNP or PA, SLFP UPFA or whatever SL has been having giant trade deficits.

    Large economies crash. Economies that are already down like in SL have no where to crash and fall! Anden bimata watunath peduren bimata watenney nehe!

  • 19 Mar 2009 04:53:54 GMT

    Think government should step in and take the issue with right spirit. Need to treat private sector equally as public sector. Can government evaluate the industries struggling due to global crisis and provide bail out package to survive next one and half years.

  • 19 Mar 2009 11:13:22 GMT

    As one expert wrote in this forum only few weeks back as facts in Sri Lanka no Banks gone bust no job losses like other countries (US, Australia, New Zealand) so what recession?.