Friday, November 7, 2008


Almost everyday you will read in the newspaper, hear on the radio and see on the TV the financial crisis which is happening today in the whole world especially here in the United States. Many banks here in US have been sold to other big institutions because of their huge losses running into billion of dollars.

Our contribution to 401k plan which is our savings for our retirement, wherein it is invested in the stock market is badly affected. From first quarter to third quarter it has been losing. Many houses were foreclosed because of their default in the payment of their monthly amortization.

Many companies laid-off their employees by cutting their j0bs so every month unemployment data is rising. Unfortunately the company I'm working is also affected by this financial crisis. On Nov. 3 without any notice our company was shot down. When we arrived, there were two policemen in front of the building. The General Manager suddenly called a meeting and explained what's happening. Our facilities here in Warminster, Pennsylvannia would be closed and our work here is being consolidated into Hamburg facilities which is also owned by our company, the Transcontinental Direct USA. Effective Nov. 3 all 460 empolyees had been laid-off except for a few, more or less 40 people including me must stay from 30 to 60 days for the transition period, and most probably by January, 2009 we have also to go. They gave us already a form for unemployment so by Jan. 2009 we can file it right away. As far as I know we are entitled up to six months unemployment until we take a another job. And I don't know when will I get another job. What I'm thinking now is our proposed reunion to be held on Jan. 17, 18, and 19, 2010. If I get another job, I'll be working less than one year by the time of our proposed reunion and I'll not have enough leave and of course parang nakakahiya kung bago ka pa lang
eh you will file a longer vacation leave. Supposed we move our reunion on May, 2010, what do you think guys?

1 comment:

Pilar Villegas Cuevas said...


I am so sad about your bad news. With the help of God I know you will find a new and better job. Just keep on praying. Regarding our reunion in January 2010 do you think it is better to be in January 2011. By that time you will be very much settled in your new job when you look for another job this time. We have to inform Luna and Lourdes. I know Luna does not want May. She with husband go home yearly last week of January. I will go with majority. I will include you in my prayers. Regards.