Effects of the ‘Tsunami’

Kung Chau Ping Phoebe

I have just read an article about the layoffs of HSBC from the South China Morning Post. This is the second round of layoffs and 450 jobs will be slashed.

Because of the current financial crisis,450 people were given a notice of termination. 'In this day and age, no guarantees of job security can be given. 'said by Mr Peter Wong, the Hong Kong Shanghai Banking Crop executive director, in a letter to staffs. This time's dismissals involve employees from every level, from managers to cleaners, with all major branches losing two to three staffs. However, it is really lucky that the sacked staffs can receive equivalent of eight months' salary plus pension entitlements. The bank said it will help them to find new roles inside and outside the bank.

In my opinion, I totally agree with the words of Mr Wong. Because of the financial tsunami, nobody can be given the job security. Although all staffs work very hard and their companies is large enough to employ a lot of employees, in this stage, they also have the chance to lose their jobs. I think the students today must work harder and harder, if they are sacked one day, they do not need to worry that they cannot apply for a new job because of their high educational level.