rooster59 Posted October 26, 2019 Share Posted October 26, 2019 400 workers laid off as their tyre canvas factory closes About 400 workers have been laid off, effective today (Friday), after the of SRF Industries (Thailand) Company’s tyre canvas production plant, in the Map Taput industrial estate in Thailand’s eastern province of Rayong, closed down due to operating losses accrued during the current economic slowdown. The workers were notified of the impending retrenchments on September 24th by the management, citing the poor economic climate, declining demand for the company’s products and the steady appreciation of the Thai baht. According to the company, the end finally came after one of the company’s biggest customers decided to stop buying the company’s products, leaving no other choice for the management but to wind up the business. Full story: https://www.thaipbsworld.com/400-workers-laid-off-as-their-tyre-canvas-factory-closes/ -- © Copyright Thai PBS 2019-10-26 Follow Thaivisa on LINE for breaking Thailand news and visa info Link to comment Share on other sites More sharing options...
Popular Post AussieBob18 Posted October 26, 2019 Popular Post Share Posted October 26, 2019 There is a lot lot more of this happening all over the country - according to my contacts and our family members. But mainly it is the small business owners and they are not 'noticed'. I was in Hua Hin a few months ago and it was unbelievable - I am told it is the same story just about everywhere. This is perhaps the beginning - but it is by no means the end - it is not even the beginning of the end yet. Thailand has aligned itself with China at the big end, and is destroying its biggest industry that caters for the small business owners at the low end - tourism. They used to talk cr*p about a 'trickle down' growth for the economy in the West. IMO Thailand is going to have a 'trickle up' crash - as soon as the Chinese decide to take their money somewhere else. 9 2 Link to comment Share on other sites More sharing options...
Popular Post Barry343 Posted October 26, 2019 Popular Post Share Posted October 26, 2019 I feel for these 400 as they have joined the growing ranks of businessers closing their doors. I know a massage therapist at a Temple in Chiang Mai that employs 12 therapist who were doing 5 treatments each a day are lucky if they can get one job each, the doors will shut next Friday. 3 5 Link to comment Share on other sites More sharing options...
topt Posted October 26, 2019 Share Posted October 26, 2019 3 hours ago, AussieBob18 said: I was in Hua Hin a few months ago and it was unbelievable What was unbelievable? 1 Link to comment Share on other sites More sharing options...
Popular Post Orton Rd Posted October 26, 2019 Popular Post Share Posted October 26, 2019 Yesterday auto parts factory shut down, I thought the economy was doing well, or has somebody not telling the truth? 1 2 2 Link to comment Share on other sites More sharing options...
Popular Post Mavideol Posted October 26, 2019 Popular Post Share Posted October 26, 2019 4 hours ago, rooster59 said: management, citing the poor economic climate, declining demand for the company’s products and the steady appreciation of the Thai baht. and many many more to come (close) until Prayut & the Gang open their eyes to the daily reality... or maybe not because to busy filling up the pockets 7 Link to comment Share on other sites More sharing options...
Popular Post Assurancetourix Posted October 26, 2019 Popular Post Share Posted October 26, 2019 1 hour ago, Orton Rd said: Yesterday auto parts factory shut down, I thought the economy was doing well, or has somebody not telling the truth? Yinn will come and explain us that we do not know anything because we are farang 4 16 Link to comment Share on other sites More sharing options...
Popular Post 30la Posted October 26, 2019 Popular Post Share Posted October 26, 2019 What's the problem? The government constantly repeats that unemployment is practically 0.0 .... 1 1 4 Link to comment Share on other sites More sharing options...
baansgr Posted October 26, 2019 Share Posted October 26, 2019 Daily ocurance now...job losses on a massive scale.....recession can hit overnight, especially when figures and news has been massaged to suit and the reality is sudden. 2 1 Link to comment Share on other sites More sharing options...
baansgr Posted October 26, 2019 Share Posted October 26, 2019 13 minutes ago, Assurancetourix said: Yinn will come and explain us that we do not know anything because we are farang The jury is still out on the authenticity some.posters.. 1 1 Link to comment Share on other sites More sharing options...
ChrisY1 Posted October 26, 2019 Share Posted October 26, 2019 3 hours ago, topt said: What was unbelievable? Being in Hua HIn......very hard place to get to I guess....for some. 1 Link to comment Share on other sites More sharing options...
Popular Post Scot123 Posted October 26, 2019 Popular Post Share Posted October 26, 2019 People saying things like "The recession is about to start" it has started and started slowly when the general elegantly stole the country. kingsgate mine (will he have to pay the fine for this as he demanded the real elected PM had to), the mass exodus of foreign investment, dirty money from China pooing in and now gold etc leaving the country (a very, very bad sign), tourisun$ down, exports down now being shown in negative figures, and I port's down (except for luxury cars). The generals control the media so I have never believed the lies and now they can't hide it. Toyota was first to react to the general when it closed the prius factory rather than surcum to the attempted extortion of billions and now we see big factories closing which can not be hidden. We all seen this start in our respective towns... 7 Link to comment Share on other sites More sharing options...
Popular Post userabcd Posted October 26, 2019 Popular Post Share Posted October 26, 2019 One only has to look at the poor performing Thai stock funds to see that overall business is not doing too well. 3 1 Link to comment Share on other sites More sharing options...
Popular Post ExpatOilWorker Posted October 26, 2019 Popular Post Share Posted October 26, 2019 Raw data of electricity consumption for business (industry) is showing the same trend of first stagnation the last 3 years and now a an actual drop Y-O-Y. 3 1 Link to comment Share on other sites More sharing options...
Popular Post Dumbastheycome Posted October 26, 2019 Popular Post Share Posted October 26, 2019 7 hours ago, Orton Rd said: Yesterday auto parts factory shut down, I thought the economy was doing well, or has somebody not telling the truth? The "economy" is well in terms of the extraction of wealth for the financially well endowed. For the lesser population hard and even harder times are waiting. 3 Link to comment Share on other sites More sharing options...
Dumbastheycome Posted October 26, 2019 Share Posted October 26, 2019 6 hours ago, baansgr said: The jury is still out on the authenticity some.posters.. 555. But is it not more important to consider the message rather than the messenger? I am real but only I verify that here to...............myself. 1 1 Link to comment Share on other sites More sharing options...
Denim Posted October 26, 2019 Share Posted October 26, 2019 Hurray for Prayuth ! Hurray for the junta ! Hurray for junta lackies ! Hurray for military coups ! Hurray for the strong baht ! Hurray for submarines ! Hurray for friends who lend expensive watches then kick the bucket ! The way things are going the 1%er rich folk will get all their maids , gardeners , cooks and other low paid servants back just like the good old days. The coup is working exactly as planned. 1 Link to comment Share on other sites More sharing options...
allenberg Posted October 26, 2019 Share Posted October 26, 2019 6 hours ago, baansgr said: The jury is still out on the authenticity some.posters.. A big +1 on that one 1 1 Link to comment Share on other sites More sharing options...
Popular Post allenberg Posted October 26, 2019 Popular Post Share Posted October 26, 2019 3 hours ago, Isaanbiker said: Where is Yinn? He might be busy preparing his funny defence of all things Thai. 1 1 3 Link to comment Share on other sites More sharing options...
wisperone Posted October 26, 2019 Share Posted October 26, 2019 7 hours ago, 30la said: What's the problem? The government constantly repeats that unemployment is practically 0.0 .... Yeah...and as of 10 months ago, there were no more overstayers in the country. Link to comment Share on other sites More sharing options...
Popular Post sunnyboy2018 Posted October 26, 2019 Popular Post Share Posted October 26, 2019 More military mess for the economy. Thousands of small traders and food vendors out of work. Businesses closing down, people in debt. Thailand has not been so badly run for 50 years. 3 Link to comment Share on other sites More sharing options...
sunnyboy2018 Posted October 26, 2019 Share Posted October 26, 2019 38 minutes ago, Denim said: Hurray for Prayuth ! Hurray for the junta ! Hurray for junta lackies ! Hurray for military coups ! Hurray for the strong baht ! Hurray for submarines ! Hurray for friends who lend expensive watches then kick the bucket ! The way things are going the 1%er rich folk will get all their maids , gardeners , cooks and other low paid servants back just like the good old days. The coup is working exactly as planned. Hurrah for Porsche drivers who kill with impunity. Hurrah for cops who imprison people for petty drug offences. Hurrah for machine gun toting soldier terrorizing tourists. Hurrah for the TM30! 1 Link to comment Share on other sites More sharing options...
Halfaboy Posted October 26, 2019 Share Posted October 26, 2019 59 minutes ago, ExpatOilWorker said: Raw data of electricity consumption for business (industry) is showing the same trend of first stagnation the last 3 years and now a an actual drop Y-O-Y. Very good observation ! Was not aware that this data was available. The trend is clear.... Link to comment Share on other sites More sharing options...
Popular Post Sydebolle Posted October 26, 2019 Popular Post Share Posted October 26, 2019 One down, thousands to follow - the writing has been all over Thailand's walls for a VERY long time already. The shortsightedness of those in power ensures that many more SMEs will follow this path as they don't take professional advice and listen to all those honey promises from Bangkok. 4 Link to comment Share on other sites More sharing options...
hotchilli Posted October 27, 2019 Share Posted October 27, 2019 23 hours ago, rooster59 said: The workers were notified of the impending retrenchments on September 24th by the management, citing the poor economic climate, declining demand for the company’s products and the steady appreciation of the Thai baht. I feel sorry for these workers, doing their daily work for a salary yet knifed in the back by the elite who have millions in the bank, and have no idea of the real life struggles on the street. 1 Link to comment Share on other sites More sharing options...
sanemax Posted October 27, 2019 Share Posted October 27, 2019 4 minutes ago, hotchilli said: I feel sorry for these workers, doing their daily work for a salary yet knifed in the back by the elite who have millions in the bank, and have no idea of the real life struggles on the street. Who are those people that you speak of ? Do they exist, or do you just think that they exist ? Link to comment Share on other sites More sharing options...
metisdead Posted October 27, 2019 Share Posted October 27, 2019 Some personal baiting posts and replies have been removed. Link to comment Share on other sites More sharing options...
ExpatOilWorker Posted October 27, 2019 Share Posted October 27, 2019 11 hours ago, Halfaboy said: Very good observation ! Was not aware that this data was available. The trend is clear.... Thanks. Industry electricity consumption change Y-O-Y: 2019 June: -1.9% July: -1.7% August: -3.1% Will be interesting to see September's number. Source: http://www.eppo.go.th/index.php/en/en-energystatistics/electricity-statistic?orders[publishUp]=publishUp&issearch=1 1 1 Link to comment Share on other sites More sharing options...
Kaoboi Bebobp Posted October 27, 2019 Share Posted October 27, 2019 I was in Pattaya for two nights in early September. Took the baht bus to the Tuesday market and back to Central Road. Property after property, sometimes two or three in a row, had shutters down and a single sign with phone number and for rent or sale, in English and/or Thai. I've never seen so many of them. I walked Central Road a lot over the years. Quite a few closures and empty eateries out to Sukhumvit, not to forget the hollowing out of Harbor Mall. Looks like very poor business conditions on Soi Yume where I always stay, which this year included January, February, April, May, July and September. I always rent a moto from a gal just off Yume. Says business terrible and plans to sell the bikes and laundry machines and move back to the village. She's been there quite a few years. So it seems now the big businesses are showing the stress of a declining economy. I feel sorry for the workers. Of course, what happens is that the lack of demand radiates out into support businesses, which starts the breakdown of what were once healthy communities. Will we see more protests? 1 Link to comment Share on other sites More sharing options...
hotchilli Posted October 27, 2019 Share Posted October 27, 2019 3 hours ago, sanemax said: Who are those people that you speak of ? Do they exist, or do you just think that they exist ? Are you saying the post is fake news, if so maybe you should direct your thoughts towards Thaivisa. I based my post on a written story which at face value I take to be true. 1 Link to comment Share on other sites More sharing options...
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