Some of the worst effect of the global economic crisis were experienced this week, including the lost of 75,000 jobs in a single day mostly coming from the semi-conductor industry. Some local manufacturing companies located in the CALABARZON area like Matsushita-Philippines,a subsidiary of Panasonic electronics which manufactures batteries, and Dyna Images located in Cavite halted their operations in a single day.Employees of the latter were only informed regarding the fate of their company on the day it ceased its operation. Economists are still expecting more layoffs and unemployment in the coming months as the crisis looms over the local...
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