Panasonic to cut 800 jobs in Thailand, move some production to Vietnam next year

[kingdong]

6 minutes ago, robblok said:

So you have no answer. Why am i not surprised.

 

Currency transactions are all available for everyone to see. Decisions of the BOT (interest percentage) are also for all to see. So I wonder how this conspiracy works. If there was such a thing there would be proof. 

 

I worked at a stock trading company for 4-5 years and you can see all market transactions. If someone is buying up stock or currency its clearly visible on trading systems. You can see the volume that is traded per day per hour even. So anything out of the ordinary would be spotted.

 

So please tell me how is it done.

 

 

Did you forsee the crash in 2008?

[robblok]

2 minutes ago, kingdong said:

Did you forsee the crash in 2008?

Of course I did not forsee the crash, i was never a trader. I was head of backoffice. However this has nothing to do with how the value of a currency is determined. 

 

You still did not reply so I think your an other bar stool economist. 

[Road Warrior]

very sad fot thailand

[kingdong]

2 minutes ago, robblok said:

Of course I did not forsee the crash, i was never a trader. I was head of backoffice. However this has nothing to do with how the value of a currency is determined. 

 

You still did not reply so I think your an other bar stool economist. 

Yet you" hope"the baht will go lower against the euro,the eus going for a burton,look i,d love to chat to you longer but don,t want to be late for my mensa meeting in the katesiree,good luck with your back passage,sorry office,and hope one day you,'ll be working in one with a nice view.

[Isaan sailor]

A little bad news is actually some good news.  It sends a striking warning to the China-centric regime to focus more on business conditions—ergo get that damned. Baht down to levels competitive with the rest of SE Asian economies.

[robblok]

7 minutes ago, kingdong said:

Yet you" hope"the baht will go lower against the euro,the eus going for a burton,look i,d love to chat to you longer but don,t want to be late for my mensa meeting in the katesiree,good luck with your back passage,sorry office,and hope one day you,'ll be working in one with a nice view.

In short you have nothing to say have no clue. Its exactly as predicted you have no argument.

 

I find it strange that someone who goes to mensa does not understand the difference between hope (a wish) and a prediction. 

 

 

 

 

[KarenBravo]

37 minutes ago, kingdong said:

Yet you" hope"the baht will go lower against the euro,the eus going for a burton,look i,d love to chat to you longer but don,t want to be late for my mensa meeting in the katesiree,good luck with your back passage,sorry office,and hope one day you,'ll be working in one with a nice view.

Deflect, change the subject then insult the poster because you have no answer.

You lost that exchange with Robblock very badly.

A tactic well known to all and made famous by the current POTUS.

Edited May 22, 2020 by KarenBravo

[DrTuner]

A clear case of somnamnaa. Keep on sticking your tongue up CCP's rear end, oh ye usurpers.

[Grumpy John]

Panasonic make the Hitari brand swing fan...which seem to burn out after a couple of years.  With a pile of them in the back corner of the shed I though Enough is enough and the last 3 I bought have been Sharp 18" units.  12 months in and their all going good. 

[SOTIRIOS]

...my washing machine can tell you why...as it bounces across the floor...

[EricTh]

2 hours ago, kingdong said:

Go figure what?punters are going to flock back to a third world country and pay a lot more for it than their home countries?and where are there tourists going to come from?there's a world wide recession in the post.

 

Thailand's traditional tourist sources are China and South Korea, both are recovering quite well.

 

There's a world wide recession but some countries are less affected.

 

 

 

[Relocated]

As long as staying out of China, it doesn't matter.

[Isaan sailor]

Even China, with the world’s biggest consumer market, knows the importance of exports.  They would never allow their currency to appreciate the way the Baht has gone.  Does Thailand actually believe they can export only to China?  China has no interest in Thailand’s manufactured goods—only raw materials and food.

[hotchilli]

20 hours ago, webfact said:

Panasonic will dismiss about 800 workers in Thailand, a company spokeswoman told Reuters, adding that the move is part of its plan to improve cost efficiency.

The value of the baht is pushing up sales prices.. Thai economy was on the slide before Corvid 19, this has just confirmed to the manufacturer it's time to move.

Watch other production lines move soon.

[eeworldwide]

12 hours ago, Blumpie said:

If you're still in Thailand, enjoy the next few years because it won't last and this is the last hurrah. 

What won't last? 

What we're living in now is a pile of <deleted> compared to what it was.

I'd agree that the country has been ruined by tourism, but it's not just tourism, its from the very infrastructure of the country - if you know what I'm talking about.

Anyway - I blame the internet.

[Baerboxer]

18 hours ago, KarenBravo said:

There is a very clear process that countries go through economically.

First they start out as agrarian, or raw material economies.

As they start to industrialize, they start producing textiles.

Textile manufacturers are sensitive to labour costs. They move their manufacturing to countries with cheaper labour.

After textiles, simple electrical goods are made. As labour costs become uncompetitive, the country is forced to add value and start manufacturing electronic goods. And so it goes.

Most developed countries now have service industries which have more value than manufacturing. This decision of Panasonic is just a natural reaction to rising wages and fits perfectly the model of increasing added value as labour costs become uncompetitive.

 

Watch Africa take off when China becomes more developed.

 

I would suggest that the strength of the baht, coupled with the heavy restrictive bureaucracy associated with doing business are bigger issues than wage levels.

 

 

[Mark17AA]

20 hours ago, stephenterry said:

Don't blame them. Probably less hassle (with thai customs restrictions (to do business elsewhere.

Absolutely right, its a daily struggle with customs here, no two people will tell you the same answer. Worst thing I did was move my business to Thailand, once this mess clears we are off as well, 100+ jobs gone.

[Burma Bill]

14 hours ago, Blumpie said:

enjoy the next few years

As long as that????

[RichardColeman]

21 hours ago, webfact said:

After the closures, Panasonic will still have around 13,700 workers involved in the manufacture of small appliances and batteries in Thailand.

For now

[NCC1701A]

good news for me. those Japanese middle management guys have big pay checks and know how to party. where is the new factory going to be? 

[JohnBZ]

Right now, Vietnam is out competing Thailand in attracting foreign investment.  Vietnam is cheaper and more hungry than Thailand.  With its proximity to south China, it is much easier to get components from China.

 

I wish Thailand will win but right now it looks it is not as competitive.  There is no much we can do about it.  You can not change culture or system overnight.

[kingdong]

6 hours ago, KarenBravo said:

Deflect, change the subject then insult the poster because you have no answer.

You lost that exchange with Robblock very badly.

A tactic well known to all and made famous by the current POTUS.

what exchange?I just made two points regarding "the markets"that roadblock didn,t address preferring to try and put words in my mouth a common tactic utilised by people who can,t counter a point,and as for roadblocks comments about mensa meetings at the katesiree,would think it's highly unlikely roadblock has ever been to pattaya,incidentally who voted you in to the post of forums umpire?

[kingdong]

5 hours ago, EricTh said:

 

Thailand's traditional tourist sources are China and South Korea, both are recovering quite well.

 

There's a world wide recession but some countries are less affected.

 

 

 

Both recovering quite well from what? The corona pandemic or the global recession ? which is going to get a lot worse before it gets any better.

Edited May 22, 2020 by kingdong

[kingdong]

22 hours ago, KarenBravo said:

 

 

Watch Africa take off when China becomes more developed.

What like Zimbabwe did after its chimurenga from rhodesia?ever been to africa?who's going to benefit from China's recolonisation of Africa? The markets, the masses or the ruling elite?

Edited May 22, 2020 by kingdong

[Senseo]

12 hours ago, robblok said:

Please don't insert logic into the discussion. The former blue collar workers on Thaivisa with little economic knowledge know better. Its all a secret plot of the junta and HiSo to keep the baht up. 

 

They forget the market rules the price of the currency, they also only see the negative news in Thailand but forget about the problems of Europe and Thailand.

 

Like everyone else id love to see a low THB as i get income in euros but that does not mean i forget what has been taught to me when i studied economics.  

 

The doom and gloom mentality that the majority of members seem to have is damn annoying. Just want to read some positive news.. or some realistic and good mentality comments but it's hard to find. 

[superal]

On 5/21/2020 at 11:23 PM, fruitman said:

Are the Thai engineers? They even can't develop a.....sidewalk...in our new mubahn they are cracked and crooked everywhere but worst is that they suddenly end! Then we have to walk on the road while there's plenty space for a sidewalk.

 

I can totally understand the move to Vietnam, they work much harder, are cheaper, not lazy and stubborn...

White goods are made on a production line and the rate of items produced is predetermined much of the time by an automation system . There will be little difference in production times if using Thai or Vietnam labour .      The savings are big when it comes to labour costs with the average wages in Thailand at $450 per month as opposed to Vietnam at $150 , so 3 times the labour cost in Thailand .

However I have to say that I employ Thai workers and have no problems with their work . One guy in particular would make a fortune if he was in the UK . He is a builder who can turn his hand to any skill and produce quality work , works energetically and needs no supervision but of course there are exceptions as I have experienced  . 

The Thai education system does not encourage talent although there is no doubt that given the opportunity Thai people can be achievers . I have 3 Thai / English grandchildren in the UK and 2 of them are excelling in their education . 

[JohnBZ]

3 hours ago, superal said:

White goods are made on a production line and the rate of items produced is predetermined much of the time by an automation system . There will be little difference in production times if using Thai or Vietnam labour .      The savings are big when it comes to labour costs with the average wages in Thailand at $450 per month as opposed to Vietnam at $150 , so 3 times the labour cost in Thailand .

However I have to say that I employ Thai workers and have no problems with their work . One guy in particular would make a fortune if he was in the UK . He is a builder who can turn his hand to any skill and produce quality work , works energetically and needs no supervision but of course there are exceptions as I have experienced  . 

The Thai education system does not encourage talent although there is no doubt that given the opportunity Thai people can be achievers . I have 3 Thai / English grandchildren in the UK and 2 of them are excelling in their education . 

I did not realize that Thai production workers make that much at 3 times the rate of their Vietnames counterparts.  Thailand jacked up the prices about 8 or 10 years ago.  I heard that they doubled the salary of service workers in a short order.

 

With the 150 USD and 450 USD difference, I would move my factory to Vietnam myself self as I worked with worker from both countries before.

 

There is no escaping factories are going to move the locations where there is the lowest labor cost.  That is just life.

[superal]

16 hours ago, JohnBZ said:

I did not realize that Thai production workers make that much at 3 times the rate of their Vietnames counterparts.  Thailand jacked up the prices about 8 or 10 years ago.  I heard that they doubled the salary of service workers in a short order.

 

With the 150 USD and 450 USD difference, I would move my factory to Vietnam myself self as I worked with worker from both countries before.

 

There is no escaping factories are going to move the locations where there is the lowest labor cost.  That is just life.

I asked Google about the average wages for the 2 countries and that was the answer , surprising I know . Also

Laos $170 , Cambodia $190 , Myanmar minimum wage $53 ,