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>From The Asian Wall Street Journal
27th August 2001
After The Pink Slip: Asian Layoff Tide Rises
By AMY L. WEBB
Staff Reporter
Every morning, Richard Joseph Winstanley e-mails his business contacts
in Europe from his desk in the Philippines, looking for job leads.
Shorts and a T-shirt have replaced black suits and matching ties since
he received his pink slip four months ago.
"My lifestyle has changed dramatically," Mr. Winstanley says. "I have
two young children, so of course, I'm worried about them. For the past
three months I've been looking around, but it's hard to find the right
kind of job for me right now."
Mr. Winstanley is part of Asia's most recent wave of layoffs, which
stems from the dot-com crash in Asia last year. In Hong Kong, Pacific
Century CyberWorks Ltd. dismissed 340 employees in July. Malaysia's
human resources ministry reported that 1,000 to 2,000 people a week
lost manufacturing jobs that month. And in the Philippines the
unemployment rate hit a high of 11.4% in January, as a disappointing
fourth quarter forced 3.59 million people out of their jobs, according
to the National Statistics Office. "The crash last year is now
starting to affect nontechnology industries. We're starting to see
certain sectors-banking, new technology, consumer goods, retail-being
hit," says Sue Knox, managing consultant at international outplacement
firm Drake Beam Morin in Hong Kong.
"From secretaries up to CEOs, everyone is affected. It will continue
to get worse for the next quarter or two. My hope is that
organizations that reduce the sizes of their work forces do so on a
measured basis rather than a hard sweep," Ms. Knox says.
With more layoffs seemingly inevitable, some people have started to
make lifestyle changes - waiting to start their families or relocating
to less-expensive neighborhoods, she added.
Others view their pink slips as tickets to explore new career
possibilities. Some are content to rest or travel. "Many of our
clients are developing new skills, making contacts, and connecting
with people now," Ms. Knox says. "But the bottom line is that the poor
employment (outlook) in Asia is causing people to really think about
what to do with their time."
The profiles of those affected by the most recent cuts include young
graduates caught up in the technology craze and seasoned general
managers who had served as company men for decades.
Here are snapshots of how people in the region have dealt with their
layoffs, and how they are preparing for their futures.
Richard Joseph Winstanley, 30,
Philippines
LAYOFF STORY
When Richard Joseph Winstanley originally joined Iquest Corp. in 1998,
he signed on as a technical advisor to help fit out hotels in Asia
with computer terminals with business applications. Like many Internet
start-ups, the Hong Kong office had fewer than 10 employees, so Mr.
Winstanley at first took on many roles within the company to help it
grow.
"At the time, the company was so small, I thought that I could make
more money on my own as a consultant," he says.
So he struck out on his own in January 1999, only to have Iquest call
him six months later with news of increased funding and a proposed
share listing. The company promised Mr. Winstanley $3,800 a month in
salary, plus benefits and stock options. Last April, however, the
company laid off 25 people. In May, Iquest laid off Mr. Winstanley and
nine others.
NEXT MOVE
Mr. Winstanley has created an office in his home to do consulting with
engineering firms and broadband companies in Europe while he looks for
a new job. "For the past three months I've been looking around. I have
two children, house payments, and basic living expenses," he says.
"But I also have more time to develop new strategies so that I can
expand my own business, or make my business a division of a company
that will not collapse, as Iquest did."
Julee Sahanarian Tajulsrama, 33
Malaysia
LAYOFF STORY
Julee Sahanarian Tajulsrama wasn't surprised when she received her
notice and a severance package in late June, after having headed
recruitment and staffing for 10 years at a Malaysian unit of Motorola
Inc. of the U.S. Last December, the company started downsizing its
human resources department, and Ms. Tajulsrama started looking at
other possibilities within the company. "It was inevitable that my
position would be cut, because the company just isn't hiring."
Ms. Tajulsrama and her husband had planned on starting a family. Now,
they are taking a slow-growth approach to their immediate future. "We
need to make sure that we don't get into financial trouble, so we eat
out less. We're still planning on children, but not until my career is
set on track."
NEXT MOVE
Since April, she has been aggressively looking for a job, approaching
future employers with her resume and list of skills. Ms. Tajulsrama
and her husband hope that she will be employed by the fourth quarter
this year.
Joselyn Sim, 25,
Singapore
LAYOFF STORY
Ms. Sim heard rumors of impending layoffs at asiacompany.com after the
company changed its business model from on-line publishing to Web
services in May. "I was working as a designer for corporate
communications in Hong Kong at the time, so I asked for a transfer
back to Singapore." Just after Ms. Sim arrived in Singapore,
asiacompany.com laid off most of its corporate communications staff in
Hong Kong.
With her transfer came a host of new duties, most of which dealt with
developing company strategy. "I told them several times that my
background was in design, but there was no room for compromise. At the
end of June, I was asked to leave the company."
NEXT MOVE
Ms. Sim hasn't found a web design job in Singapore, but she isn't
worried about the immediate future. Rather than searching aggressively
for openings in new companies, Ms. Sim has decided to take some time
to travel. "I'm not concerned about payments, because I can freelance
if I need to. I'd rather look for a job slowly, and find a job that I
love that does not involve the Internet. I'm not worried because I've
found new opportunities for other kinds of jobs and I can hope for
something better."
Edward Lau, 44,
Hong Kong
LAYOFF STORY
Edward Lau was one of 16 senior managers in Asia laid off by a
corporate service company, where he helped his clients manage business
travel expenses. Mr. Lau had been with the company - which he cannot
name under the terms of his severance package - for four years.
"I saw the company starting to downsize, and I did not have the
illusion that I'd be around forever, but I was surprised when I was
called in," he says. "I had hoped to stay with the company for a
number of years, but during the second quarter of 2000, the company
started to consolidate expenses."
Mr. Lau used the terms of his contract, which promised long-term
employment and benefits, to negotiate a severance package. In the end,
he received payment and outplacement support with Drake Beam Morin.
NEXT MOVE
Mr. Lau worked with Drake Beam Morin to develop a short-term plan, and
found a consulting job in Singapore with a U.S. multinational. He and
his wife, who is a homemaker, have cut spending until he adjusts to
his position. "I think this is the job for me. I took a pay cut to do
this job, but I don't mind, because I think I will excel. I used this
layoff to get to a field where I wanted to be and did some personal
development along the way."
(See related article: "Outplacement Firms Keep Busy in Asia ---
Employers Warm to Easing Departures" - AWSJ Aug. 28, 2001)
http://interactive.wsj.com/
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