Quote:
Originally Posted by xelasnave
I had to laugh this morning..Rio T has jumped because they have announced 14,000 folk will lose their jobs... so the stupid see this as meaning profit will be greater because overhead will be lower... bit of a long bow bow draw there... businesses cut jobs to maximise profit and I am sure Rio would have had a trim ship before so a cut now means nothing more than they expect less business, less business means less turnover which for the most part means less profit.... Assuming that with high turnover they were using all economies of scale one should expect from a big player at lower turnovers one must always face smaller economies of scale.... so it ammusses me how the market can grab at news of job cut backs as good... if one has a business and one has to cut jobs it means things are getting worse not better which should see less confidence about the future....
Still what would I know I still can not understand how borrowings can move from one side of the books to the other and turn from debt to income... business and basic money making rules sure have changed over the years...
alex
|
So much for scoring my perfect job somewhere with Rio Tinto here in Australia , BHPB is also reorganising , have a few job apps with them too and I've recieved emails saying those jobs are now -
on hold pending restructures
or
will not be filled now result of a departmental restructure.
I've been tracking engineering and engineering mgmt openings here in Oz , they've fallen by 50% since July (but are still higher than 24 months ago - don't know how long that will last , and the types of openings have changed).
So RT and BHPB are "restructuring" , Onesteel (recently bought/merged with Smorgans) are offloading people (have or will soon close Newcastle Bar Mill (goodbye to another 600 jobs here in Newcastle) , and Wespac and Macquarie are ditching hundreds or is it thousands , the car makers get a big handout from Canberra and are still sacking thousands anyway), how is this something good ?
Aways the workers who get the pooey end of the stick , when will we learn that when the rot sets in (bad decision making) , that the clean out should be bigger at the top of the food-chain (clean out the dead wood) and bring the middle level and engineering types who are still close to the workface and still have their skills into the void produced. The higher up they are , the less competent they seem to be , and they seem to never stick around on the top jobs long enough for their stuffups to catch up with them and to be held responsible.
Earlier this week HND had a "Special After Hours "Sale"" on Tuesday after 6pm , coinciding with the Fed Gov's Pensioner Payouts , betting that was a flop , since most money wont have gone into accounts even yet as Centrelink would be waiting to the paydays for each person's pension , and will be spread out over a period of 2 week , out to the 18th Dec (I believe) , they should have had the sale on the 19th when all the pensioners will have been more financial , and might have had some change after paying bills , downsizing credit card debts, bought some treats for setting asside for Xmas and NYE , and maybe fixed some important things in their houses or cars. Stupid on the part of HND and a sign of desperation.
And one the matter of helping welfare recipriants , how are people on Newstart, Austudy, Abstudy, Youth Allowance any the less needy of help than pensioners at this time ?.... they've all missed out once again from what I understand. How is that fair ?