Despite the FED’s interest rate hike, a few financial giants in particular HSBC and Standard & Charter (better known in Asia) announced their lay off plans worldwide.
A young Taiwanese woman told her story of lay off on the internet and was advised to negotiate with her boss for unfair performance review. She managed to get her job back but lost her year end bonus plus promotion opportunity because HR already issued her lay off notice and she was reinstated as a new hire. It was the company’s strategy to cut costs.
The story of how Konosuke Matsushita,founder of Panasonic, stopped layoff while sick in hospital is most inspiring. The two executives standing in for him during his illness decided to cut costs by letting go a sizable number of employees due to poor sales in the troubled economy many decades ago. He insisted on keeping all employees and mandated them to work in the morning only and spend the rest of the day selling products to digest the inventory piling up high. Not only did the employees sell the inventory, the company’s production lines could not keep up with the sales demand.Though business environment is much more difficult now, the spirit behind the story is still applicable.
Poverty of the freeters (people on part-time jobs) and in particular those with Ph.D. degrees in Japan has been on the news frequently these days. Due to low birthrates, survival of universities has been a big problem in Japan and Taiwan. College graduates are encouraged to pursue higher degrees as life blood for ailing education institutions, but they have an even harder time to secure employment when they finish.
Following up with the post “What is success?”on Billionnaire Buddhist Priest Kasuo Inamori paging Buddha to save Japan Airline, I would like to share one of his down-to-earth quote on corporate management and leadership.
“If you want eggs, take care of the hen. If you bully or kill the hen, it’s not going to work.”
This applies to family, work, school, business, social problems, radicalization of disenfranchised Muslim youth, refugees and migrants or global conflicts as well.