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tdotspartans
Talker
Joined: Mar 25, 2004
Posts: 75
Status: Offline
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 Posted:
Nov 18, 2008 - 04:25 PM |
 
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| Post subject: expats leaving shanghai |
hi,
does anyone know of any expat families leaving shanghai because of company cutbacks or even layoffs due to the economy?
seems a lot of expats are suddenly leaving shanghai. |
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Robtcb
Reacher
Joined: Nov 15, 2005
Posts: 322
Location: Shanghai
Status: Offline
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| Posted:
Nov 18, 2008 - 04:49 PM |
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been happening for all 2008. Accelerating now, though, due to economy. My company has probably reduced expats by 50 % this year. |
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alaal
Talker
Joined: Feb 27, 2007
Posts: 78
Location: Bund
Status: Offline
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Nov 18, 2008 - 05:15 PM |
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Yes many of our friends have been pulled back. More US companies than Europeans but I think it is just the begining. |
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Juan_Tamad
Board Royalty
Joined: Jan 29, 2007
Posts: 7094
Location: Smoky Mountain
Status: Offline
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| Posted:
Nov 18, 2008 - 05:36 PM |
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Sign of the times: Noticed apartment rent seems to be going downda bit.
Related? |
_________________
BAD LUCK has always been the excuse of LOSERS!!! |
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duguup
Barker
Joined: Mar 19, 2006
Posts: 196
Status: Offline
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| Posted:
Nov 18, 2008 - 06:40 PM |
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I had a friend tell me that a lot of Korean expats have already moved back. |
_________________
The problem with designing something completely foolproof is to underestimate the ingenuity of the complete fool. |
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conniechong
Reacher
Joined: May 30, 2005
Posts: 338
Status: Offline
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Nov 18, 2008 - 06:48 PM |
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note book orders from US and Europe are shrinking, the taiwanese company i work for lay off only local operators so far, not sure about expats in the future... |
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OZDave
Reacher
Joined: July 04, 2008
Posts: 344
Status: Offline
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| Posted:
Nov 18, 2008 - 08:47 PM |
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Nod- have noticed.
Sucks a lot- a few friends have been hit.
Markets down again today and there is certainly more to come. |
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CoffeeHawk_0
Board Deity
Joined: July 14, 2005
Posts: 17977
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Nov 18, 2008 - 08:51 PM |
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UndrUrSkin
Rocker
Joined: Aug 26, 2008
Posts: 788
Location: between your sandy cheeks and crab-filled pineapple
Status: Offline
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| Posted:
Nov 18, 2008 - 09:14 PM |
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| CoffeeHawk_0 wrote: |
| Yankee go home! |
Go home? They didn't even make the post-season playoffs! |
_________________
You're an Ass-Half, it takes 2 of you to make an Ass-wHole |
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edbreejen
Ranter
Joined: Apr 24, 2003
Posts: 547
Location: Shanghai, Zhongshan park area
Status: Offline
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Nov 18, 2008 - 09:24 PM |
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RussianBear
Veejay
Joined: June 25, 2008
Posts: 2148
Location: Milky Way galaxy
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Nov 18, 2008 - 09:47 PM |
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Yes, i heard about Korean moved back from Beijing.. because living cost is rised.
I'm satisfacted with living cost in Qingdao, we rented appartments for 1000 RMB/m and looking for buy one new (for 9000/m2) in center of city. |
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FTM
Raver
Joined: Apr 15, 2007
Posts: 443
Status: Offline
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Nov 19, 2008 - 10:04 AM |
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a rmb5million home in september is now rmb4million. Real estate market's affected. |
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aristonb
Talker
Joined: Sep 19, 2007
Posts: 106
Location: Shanghai
Status: Offline
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Nov 19, 2008 - 10:06 AM |
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I work for a recruitment company and this trend has being going on for quiet sometime now but it is going to get worst. But the sad things is that when they do go back, they might not be a job back home. Very sad. |
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FTM
Raver
Joined: Apr 15, 2007
Posts: 443
Status: Offline
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Nov 19, 2008 - 10:46 AM |
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I heard Yahoo China will cut 30% of IT |
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Juan_Tamad
Board Royalty
Joined: Jan 29, 2007
Posts: 7094
Location: Smoky Mountain
Status: Offline
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Nov 19, 2008 - 11:06 AM |
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Later will see lao wais with sign:
"Will work for mantou" |
_________________
BAD LUCK has always been the excuse of LOSERS!!! |
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Mister_happy
Ranter
Joined: Oct 28, 2004
Posts: 574
Status: Offline
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Nov 19, 2008 - 11:44 AM |
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Expat numbers have not picked up after the Olympic Games. The restrictions on Visa's is also reducing the expat numbers standing at the pub bar. |
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Cambronne
Wonder Wit
Joined: Feb 23, 2008
Posts: 3552
Status: Offline
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Nov 19, 2008 - 12:34 PM |
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Strangely I am receiving even more calls from financial advisors these days! Maybe laid off expats are becoming financial telemarketers on commission-basis while the pool of potential clients is reducing? |
_________________
My pro-Madoff signature was censored by antisemite moderators! Free Madoff, the Dreyfus of the XXIth century! Bomb Iran! Down with antisemite moderators! |
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CoffeeHawk_0
Board Deity
Joined: July 14, 2005
Posts: 17977
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Nov 19, 2008 - 12:55 PM |
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it's not well publicized, but many 10,000's of local people are bing laid off in Shenzhen and the automotive sector. Eventually this translates to companies needing less expats. |
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Juan_Tamad
Board Royalty
Joined: Jan 29, 2007
Posts: 7094
Location: Smoky Mountain
Status: Offline
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| Posted:
Nov 19, 2008 - 01:41 PM |
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There seems to be more xpats playing poker at the spot though... |
_________________
BAD LUCK has always been the excuse of LOSERS!!! |
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rxg
Raver
Joined: Sep 06, 2005
Posts: 496
Status: Offline
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| Posted:
Nov 19, 2008 - 02:25 PM |
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I know a few very high paying expats were terminated from their current jobs recently. No re-exptriated package. They do not have a job to return home to.
I personally think these fews are useless and give other expats a bad name anyway. So its a good thing that they and similar people go back to their countries.
No more bossing Chinese people around, no more cheap Chinese lived- in whores...No more free housing, no more driver, no job.
I hope they saved some money while they were here instead of spending it on cheap girls, and expensive booze! |
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MrPuxi
Raver
Joined: Jan 30, 2008
Posts: 467
Status: Offline
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Nov 19, 2008 - 04:07 PM |
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it's just the beginning...
i'm looking to move to beijing 1st quarter 09 and was told by the agent NOT to sign any leases now because lots of expats are leaving and better deals will be available by beg next year.
seems really just the beginning of the exodus. |
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UndrUrSkin
Rocker
Joined: Aug 26, 2008
Posts: 788
Location: between your sandy cheeks and crab-filled pineapple
Status: Offline
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| Posted:
Nov 19, 2008 - 09:08 PM |
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| rxg wrote: |
I know a few very high paying expats were terminated from their current jobs recently. No re-exptriated package. They do not have a job to return home to.
I personally think these fews are useless and give other expats a bad name anyway. So its a good thing that they and similar people go back to their countries.
No more bossing Chinese people around, no more cheap Chinese lived- in whores...No more free housing, no more driver, no job.
I hope they saved some money while they were here instead of spending it on cheap girls, and expensive booze! |
... You mean the 'party's over'???
Does anyone need an Ayi? |
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_________________
You're an Ass-Half, it takes 2 of you to make an Ass-wHole |
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Shangstar
Fire-eater
Joined: Feb 07, 2008
Posts: 2786
Location: Spitland
Status: Offline
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| Posted:
Nov 19, 2008 - 10:05 PM |
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| Cambronne wrote: |
| Strangely I am receiving even more calls from financial advisors these days! Maybe laid off expats are becoming financial telemarketers on commission-basis while the pool of potential clients is reducing? |
me too, actually. I've been receiving them every other day, and no idea where they got my details from. They're all expat advisors as well. If I get laid off tomorrow I'm taking a course at Fudan. |
_________________
Charles Darwin: Differences between humans are differences in degree, not differences in kind |
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FTM
Raver
Joined: Apr 15, 2007
Posts: 443
Status: Offline
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| Posted:
Nov 19, 2008 - 10:35 PM |
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^Did you go to the expat show last month? If so, that's where they got your details from. |
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Cambronne
Wonder Wit
Joined: Feb 23, 2008
Posts: 3552
Status: Offline
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| Posted:
Nov 19, 2008 - 10:49 PM |
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Typically they get names from chambers' directories and such. |
_________________
My pro-Madoff signature was censored by antisemite moderators! Free Madoff, the Dreyfus of the XXIth century! Bomb Iran! Down with antisemite moderators! |
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