
Recently rumor mongering seams to be a social norm in my office. About a few weeks back, there was a small article in the newspaper that the company is offering VSS to almost all the employees, giving birth to more rumors that the company is closing down. The very next day after the article, The Star print an apology, but it does not help in quelling any other rumors from circulating.
There was one instance saying that the company is closing the Penang operation and moving to Singapore. The Singapore government was found to be giving so much incentive that it is cheaper to maintain the operation in Singapore than in Penang. The rumor also quoted a handset R&D division in Motorola that took up the Singapore offer and moved the entire department there. As further backup, the rumor also quoted that Marvell Singapore pull back the intention to close down the site there because of the government incentives. This rumor remains a rumor and personally, I dont think there is much truth in it as moving operation is difficult and costly business, in addition, till today, not a single person from Singapore for a job transfer. This rumor seams to poke at the Government for not doing enough for the folks here in this current economic situation compare to the neighboring countries.
There was one instance saying that the current office/factory have been sold to the neighboring company and we will be moving to Suntech. In addition, before moving there, the company will shed 1/3 of the employees, and other versions says 2/3. The latest on this rumor has it that Suntech was too expensive, we are moving to Bukit Minyak instead. There may be some truth on this rumor as the current factory space that we are occupying are meant for a factory. The company has transform into a trading house and currently only need space for offices and small labs. It would be much more efficient and cost saving to move to a smaller location. This still remains a rumor as no announcement on this matter yet. As I believe this rumor to hold some truth in it, but I dont believe we will shed 2/3 of the current people before moving there.
There was one instance saying that the most recent April VSS offering will be shedding 250 people. This is significant and account for 1/3 of the Penang operation. When the day comes, the number of people leaving did not seams to come near half the specified amount. This is proven to be not true.
There was one instance saying that one of the product division has been sold to a Taiwanese company, and it was a buy one free one package, where another product division was thrown in because that product division is just not been making money for many qtrs. The two product division in question varies depending on the version that circulates, and my product division was being quoted in one of them. This Taiwan company is a giant, and they have a financial strength to buy over. I am sitting on the fence on this rumor as almost on weekly basis, I keep hearing that there will be announcement from the CEO in the evening. Certainly, if my product division is being sold away, there will be a big question mark on my job status. As I dont think the new company will shed away the entire Malaysian division, I do believe the new ‘master’ will definitely make changes to the structures and giving the pink slips to some to optimize. I just hope it is not me. On the other hand, my product division has been making money in the last two qtrs, it does not make sense to sell away a product division that is making money for the company. Then again, we never know.
You would think that with all these rumors going around, everyone will be hard at work fearing to loose jobs during this economic condition. The morale in the office is at it’s ultra low. The cafeteria seams to be occupied most of the time, with more people taking breakfast and tea brake and longer breaks too. The cafeteria is like a market for rumor mongering.
And just yesterday, I heard an astonishing rumor. Our neighboring company is being sold off to Texas Instrument. It just seams like the rumor mongering has gone bonkers. I’ll just open my ears, and drink my coffee and get on with the day, as we never knows, out of the 100 bonkers rumors, one of them might be true, and sometimes, the most outrageous ones are indeed true.