Global job cuts, what can be done

Every generation needs a revolution - an entrepreneurial revolution

Nearly 200,000 jobs were cut in 2022;   about 100,000+ were announced by global companies like Meta, Amazon Accenture Paypal, etc.   Name the cause    cost cutting, P n L revenue decline, problem in Ukraine.

It is certainly a cause for worry for many.  Certainly this is a cure for inflation.  Fed and Central Banks efforts have been paying  off.

But this is a great difficulty for families for those who lost jobs   No food on the table, no more shelter (as we see among slum dwellers in Europe) and in streets of LA even at Philadelphia.

It could trickle down to BPO companies in the  Phil.  The cost cutting can cut into the outsourcing by Western companies  It means lesser jobs too for our OFWs.   The 6 - 7% GDP growth forecast for Phil could be overly optimistic

Its not an event that will force despair or suicide.  We need to think like entrepreneurs.  We can pose solution to this negative event.    We can think of new business, on how to cope up.

We need an entrepreneurial revolution to counter this global crisis

The bail out of SVB could have been avoided - Sen John Kennedy

Every generation needs a revolution - an entrepreneurial revolution

Sen Kennedy takes down Pres Biden for SVB bail out

In a speech before his colleagues, Sen John Kennedy Sen John Kennedy said that the bail outs of the three banks in US could have been avoided if any of the three things were done:

1   The investment strategy of SVB to invest in high yielding but interest rate sensitive bonds was non

banking 101;

2.  The regulators had regular reports from the bank but failed to note the red flag and take proactive steps to prevent a bank run

3.  SVB was an illiquid bank but a solvent one, but merely was unable to provide liquidity to those withdrawing because  of parked funds at the bonds;   the regulators could have by phone arranged for a buyer on Friday or Saturday so that a bail out was unnecessary (as what CSB did)   But they did not.

Sen Kennedy decried the presence of underserving in the nation:

The large corporations get bail out

The masses get hand outs;

The middle class, the taxpayers get billed out

Health care will continue to be a driver of entrepreneurship, business, and Philippine economy

Every generation needs a revolution - an entrepreneurial revolution

Metro Pacific Hospitals - target 40 hospitals

A famous surgeon in working with a billionaire businessman owning strings of hospital across the country,  mentioned while doing a surgery on my elbow that a hospital where he has invested in now valued at P60m  That was the bid of the billionaire.   And that was from an investment of only P1 million 4 years ago.  Tnat is a lot  of ROI

I mentioned that health care will continue to be source of growth in the economy  Everybody gets sick (and for the memorial park, everybody dies;  it cant be avoided)   Health care will continue to flourish despite all negative predictions about global economy

The good surgeon was former student at GSB, and he must have learned a couple of great things about business while under my tutelage  This post was also engaged to conduct an organizational and strategic planning for the said hospital during the formative stage