World Economy Meltdown - Implications to Pinoy Telecom Boys

The Wall Street meltdown has triggered world economy slowdown. New Zealand has suffered recession including lower domestic spending.

Lower domestic spending means that people will be using their mobile or landline phone less, lesser time on the internet, lesser overseas calls and many more cost reduction options. This means that demands for Telecom services will be lesser which may freeze plans for network expansions or improvements.

It is well known fact that for the past year, Trasnfield Services have signed-up hundred of Pinoy telecommunication technicians to be seconded to Telecom New Zealand.

How will this affect the employment of our kababayans? Let us take a probable upcoming economic scenario.

Wall Street have rebounded despite that failure of the US government bail out. This is a good sign for world economy recovery and likewise New Zealand.

National Elections is likewise will be happening next month. This means that the government is holding up plans for any projects after the election, whoever will be winning.

This means that by early next years, New Zealand will be able to recover from its economic state. By that time, the demand for Telecom services will be soaring again, thus the requirement for telecom technician will increase.

Any company will try to hold on to their employees at this time unless the employees decides otherwise. The average cost of recruitment particularly from overseas cost a minimum of $50 000 per employee. Notwithstanding the duration of recruitment which is about 3 months plus another 3 months of training. This means that there is a non-productive period of about six (6) months.

In all aspects, Transfield Services will not be going into this scenario.

Telecom boys, just stay put, do your work religiously and hope for the best.

Other option
Worse comes to worst, Transfield Services is an Australian based company, requirement for technicians in Australia is high. A request for transfer may be a good option to Australia.