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Thailand Faces Economic Strain: Mass Layoffs in Key Industries


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Posted

work-opportunities-in-manufacturing-industry-in-thailand.jpg

 

In a troubling turn for Thailand's economy, mass layoffs have hit the industrial sector hard, with approximately 2,600 workers losing their jobs in just two days. The financial pressures have compelled companies to shrink operations, resulting in widespread disruption for employees.

 

In Chachoengsao, an electric vehicle manufacturer announced the layoff of 600 workers, effective December 1st. The company cited a dip in orders and rising costs as reasons for the decision, vowing to meet legal compensation obligations. The announcement, shared by the Noom-sao Rongngan Facebook page, underscores how the current economic climate has driven such tough choices.

 

Meanwhile, a jewellery factory in Samut Prakan has also revealed plans to cut 2,000 jobs by the start of next year, reflecting broader issues within Thailand's manufacturing sector. Reports on this trend highlight an economic recovery in limbo, as evidenced by a rise in managerial and executive job seekers amid lukewarm industrial demand in early 2024.

 

Further compounding the concern, the Federation of Thai Industries reported over 360 factory closures in the year's first half, displacing more than 10,000 workers and revealing a threatening economic landscape.

 

As Thailand seeks solutions to its industrial challenges, stabilising the economy and protecting jobs remain priorities. The severity of the current situation calls for immediate and strategic action, ensuring the livelihoods of countless citizens are safeguarded moving forward.

 

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-- 2024-11-01

 

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Posted
10 hours ago, snoop1130 said:

In a troubling turn for Thailand's economy, mass layoffs have hit the industrial sector hard, with approximately 2,600 workers losing their jobs in just two days. The financial pressures have compelled companies to shrink operations, resulting in widespread disruption for employees.

Thaksin has a master plan I'm sure.

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Posted
11 hours ago, snoop1130 said:

The severity of the current situation calls for immediate and strategic action,

In this country, immediate action (usually for show only) is one thing. Strategic action is an unknown concept.

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Posted

And TAT are still pushing their citizens to travel. It’s time they wake up and start to understand what is going on. 

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Posted

yet they feel the need to grant 500,000 migrant workers citizenship as they are essential to the workforce.?  Surely that number should now be reduced accordingly ?

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Posted
3 hours ago, mfd101 said:

In this country, immediate action (usually for show only) is one thing. Strategic action is an unknown concept.

And requires or  consists solely  of forming committees 

Posted

The Thai government seem more concerned about Tourists the blood life line of Thailand 🤑

Most stories are about the Tourist industry than others 

The normal working person does not count 

End of 😱 💰 

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Posted
7 hours ago, Presnock said:

Yeah, we have seen the Chinese version of "free trade" for a long time, noting how it is almost always a one way street, from Chinese factories to the rest of the world.  Yet, immediately, Thai leaders continue to strive to become members of BRICS, thinking that it just opens up the markets of the other countries.  If anyone here thinks that Russia, China, India, Saudi, etc will open their markets fully to Thailand - dream on.  Those countries are only looking for more votes against the traditional Western countries.  I will admit that many of the western countries have done their fair share of taking from the poorer countries  for a long time.  But, I still believe that the western countries treat weaker countries a lot better than many of the BRICS leaders.  IMHO having read much about all these issues for over 70 years.

Yeah, life goes on in Thailand - now today even here, we read how Thailand is chomping at the bit to get in the trade bed with Russia! and they are reportedly thinking about the import and export of agricultural goods.  If they think that Russia will gladly take all that they have to offer, my personal feeling is that Russia is smiling at another country that will be taking their oversupply of everything.  But, I wish only the best for Thailand, as I have read the propaganda on Russia and Chinese communists for as many years as I have been able to read.

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Posted
On 11/2/2024 at 8:19 AM, john donson said:

adapt or die

 

cannot wait to see the exodus if expats here are actually taxed on world wide income with NOTHING in return

The article that I read indicated that they were unsure of what they might offer once they decide on the next tax scheme so maybe they will provide something in return for the taxes they collect.  good luck

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Posted
On 11/2/2024 at 9:19 AM, john donson said:

adapt or die

 

cannot wait to see the exodus if expats here are actually taxed on world wide income with NOTHING in return

I already did. Just settled in in the most expat friendly country in ASEAN. And they all (90%) speak English.

Will return to Thailand soon, just to sell my stuff, including an expensive car and big bike.

I should have done this 10 years ago! Thailand can ... in .... as far as I am concerned, considering how western expats are treated.

It's a great feeling kicking xenophobic Thailand out of my life. A new and much nicer adventure has just started. Recommended!

 

 

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Posted
2 hours ago, MartinBangkok said:

I already did. Just settled in in the most expat friendly country in ASEAN. And they all (90%) speak English.

Will return to Thailand soon, just to sell my stuff, including an expensive car and big bike.

I should have done this 10 years ago! Thailand can ... in .... as far as I am concerned, considering how western expats are treated.

It's a great feeling kicking xenophobic Thailand out of my life. A new and much nicer adventure has just started. Recommended!

 

 

And where is it?

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