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2016 Layoff Season?

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  1. #21

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    Yeah I agree with you.

    I wouldn't leave HK unless certain terms were met. Of course if I'm planning a move that's different.

    Most of our UK mid level management come to HK with no housing allowance. I have a drink with them and say I just wouldn't do it. You're doing a huge favor to the company, get what's deserved. They disagree because "they want" to come here and explore a new thing.

    7jai and shri like this.

  2. #22

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    Getting back to this topic:

    Day by day, death by a thousand cuts, unlike previous downturns where all the bad news was delivered in a very short time.

    Disney layoffs:

    No fairytale ending yet for Hong Kong theme parks- Nikkei Asian Review

    Looks like Intel will be laying off soon - not sure how quickly in HK / Asia.

    Intel to cut 12,000 jobs globally - Apr. 19, 2016


  3. #23

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    JPMorgan, Goldman Sachs, Blackrock, Barclays, Standard Chartered Bank, all cutting back on HK.


  4. #24

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    - The mainland clamp down on corruption will hit HK harder than SARs and will take a long time for HK settle into the new normal.
    - Inbound / outbound expats - no direction right now. There is a net outflow I think, from my 'network' or observations.
    - Expat businesses in retail, F&B (atleast the independents), services (professional / lifestyle - fitness etc) are going to be hit hard over summer.
    - School situation quite bad, Dragon babies are making their way into 'international schools' very aggressively. More shortage, even with the new schools so inbounds will have problems with school over summer.
    - Rentals are dropping and so are property prices.

    I would not be buying a tesla at the moment if I had cash on hand...

    Quite surprised that the stocks are behaving in a contrarian manner, but then I figure the markets have not been driven by retail investors in a long time.


  5. #25

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    Quote Originally Posted by shri:
    Getting back to this topic:

    Day by day, death by a thousand cuts, unlike previous downturns where all the bad news was delivered in a very short time.

    Disney layoffs
    I would guess the Disney layoffs have a lot to do with the new Shanghai Disney opening up.

  6. #26

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    Quote Originally Posted by Open Casket:
    I would guess the Disney layoffs have a lot to do with the new Shanghai Disney opening up.
    And drop in mainland tourists in the year or so leading up to the opening?

    Disney is one thing .. ~2% increase in unemployment in the hotel sector.

    Another industry affected by Mainland policies - Auctions:

    Going once? Hong Kong staff of British auction house laid off | South China Morning Post

  7. #27

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    What are Dragon babies?


  8. #28

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    @MandM!

    Kids born in the year of the dragon - 2012.

    Enter the dragons: A baby boom for Chinese across Asia - BBC News

    MandM! likes this.

  9. #29
    Mamba

    Babies born in the Year of the Dragon 2012, huge surge in birth numbers. Year of the Sheep (now re-branded as Goat) 2015 huge dip in birth numbers.

    MandM! likes this.

  10. #30

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    A lot of people in my network are off back to uk

    I'm off again to London next month as there's literally nothing decent here jobwise.

    Phone etc is being disconnected and no intentions to return unless it's for a vacation.

    Career wise HK is dead for me