Small companies 'shedding staff'

Small and medium-sized manufacturing companies are shedding staff at the fastest rate since the early 1990s, according to new research from the CBI.

Rapid deterioration

"The jobs picture among smaller manufacturers has deteriorated markedly since last July in the face of rapidly declining demand for UK-made goods at home and abroad," said Russel Griggs, chairman of the CBI's Small and Medium Enterprises (SME) Council.

"Firms are steeling themselves for a very difficult few months with output and orders expected to fall at a record pace in the next quarter.

"As a result, job losses are expected to accelerate among SMEs," he added.

Digged from BBC

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As we all know that we are facing the extremely bad financial environment nowadays. This situation is not only appeared in UK. Apparently China is having the same challenge. Though I am not a economist and I didn't do any research about this situation. While I still learned something about the small companies 'shedding staff'. For instance, "only in 2008, in Donguan City(one of big cities in Guangzhou province, also one of biggest manufacturing cities in China) " said by my one of my relatives who is working in there as a worker, "has closed down more than 50,000 workshops" Well this is only in a city, if you take a look at other cities in China you will find this is a huge challenge for not only the Chinese government but all also most of Chinese people.——by Zhefeng