Displaying all posts for Economy

Reverse brain drain? Filipino execs return home amid crisis

By Judith Balea – As job opportunities dry up in the US and the rest of the western world due to the brutal financial crisis, some Filipino executives, who left early on for greener pastures, are returning home in search of work.

Nissan retrenches, adopts 5-day workweek

By Dino Ray Directo III The Philippine unit of Japan’s Nissan Motor is trimming its labor force by 15 percent and has adopted a five-day workweek as part of a global cost-cutting program.

Corruption, weak judiciary hamper RP economic freedom: US think tank

The Philippine economy is “not so free” because of pervasive corruption, a weak judicial system, restricted foreign investment, and a limited regulatory environment.

Texas Instruments to cut 400 jobs in Philippines

(AP) – U.S. microchip maker Texas Instruments Inc. is slashing 400 jobs in the Philippines to cope with falling orders amid the global economic crunch, labor officials said Friday.

Ford cuts Philippine office staff by 15 percent

Ford Motor Co. has cut its office staff in the Philippines by 15 percent in a restructuring program, a company official said Monday.

Foreclosure brings heartache, yes, but also healing

By Julia Prodis Sulek – The power had been turned off. The house was empty. The bank was ready to take possession. But Rodney Reynolds didn’t want to leave.