Word: hsinchu
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...Taiwan's Hsinchu Science and Industrial Park - where over 90% of the world's notebook computers, motherboards and cable modems are made - three-quarters of the nearly 130,000 workers took at least one or two days of unpaid leave a week during the first two months of 2009. For firms with an eye on an eventual recovery, one of the main reasons to cut working hours and not jobs is that it reduces costs at the same time as preserving the talent base. But cutting hours also adds to the bigger macroeconomic problem currently hammering the world economy: lack...
...growth model came to resemble a vast Ponzi scheme--one precariously perched on expectations that debt-soaked Americans would buy more TVs, computers and cars forever. Those expectations have been dashed, leaving the tigers with excess manufacturing capacity and a burgeoning army of unemployed workers. At Taiwan's Hsinchu Science and Industrial Park, home to many of the island's flagship tech firms, most workers are taking unpaid leave at least one day a week. Ryan Wu, chief operating officer of the job-search website 1111 Job Bank, says conditions at Hsinchu have never been so dire. "There's extreme...
...Even at cut-rate prices, there will still be fewer chickens to fry. At the Hsinchu Science and Industrial Park, home to many of Taiwan's flagship technology companies, more than three out of four workers are currently taking unpaid leave at least one day a week. Ryan Wu, chief operating officer of job-search website 1111 Job Bank, says that conditions at Hsinchu have never been so dire in the park's 29-year history. Wu says that two years ago, the companies that job hunters most often sought out using his service were microchip makers and electronics manufacturers...
...Some workers, however, say they actually enjoy having more time off. A manager at a Hsinchu company says for many years he worked 13-hour days. (According to the Swiss-based International Institute of Management Development, Taiwanese work some of the longest hours in the world, averaging nearly 44 hours a week.) These days, he leaves the office at 7 p.m. - not 10 p.m., which was his norm - every day to enjoy dinner and quality time with his family. "Our society was way too overproductive," he says. "It was too intense, so it all exploded at this time." Adds...
...afraid working less hours will make it look like his job is too easy - which would make him more dispensable." She says she will probably skip her annual overseas holiday this year out of fear she'll be replaced. "People used to complain about the long work hours," says Hsinchu psychiatrist Dr. Chen Sung-Wei. "Now they fear that forced vacation days are an omen of worse days to come." Hsinchu psychiatrists like Chen say they've seen their patient rolls rise 20% recently because of the strain that workers are suffering...