Let’s discuss the prospects for the petrochemical industry in the coming years
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The market conditions are quite poor at the moment; how will things develop in the next few years? Do everyone just endure life like this? What if layoffs occur? Do you have any career plans?
The petrochemical industry is a fundamental sector, especially the industry related to tung oil; the trend is towards larger scale and greater automation. Due to the special nature of this industry, not as many people are entering it as in previous years. As long as one is committed to their work, the chances of being laid off are low. There are also cases of company changes in some instances
Isn’t a significant pay cut essentially a form of layoffs? Is this common?
There are two reasons for significant salary cuts: first, the original salary levels were not in line with societal standards; for example, in some monopolistic companies, once those monopoly advantages disappeared, salaries had to be reduced accordingly. The other reason is industry transformation and the impact of external factors
Let me tell you something that only you would come across: an employee of a large state-owned enterprise was looking for a new job, claiming that the reduced salary was not acceptable. It turned out that the work schedule involved working for half a month and then taking a break of half a month; after deducting all expenses, the salary and allowances were enough to afford a Passat per year. During the break period, the salary didn’t decrease. Now, during the breaks, he only gets a basic salary of a little over 3,000 yuan, which he considered to be a huge difference, so he decided to change jobs – this caused quite a stir among everyone present
What about the steel coking industry?
The manufacturing sector will need to increase its technological content in the future, reduce its workforce by shifting employees to the service industry, and shorten working hours.
It’s not uncommon either; those who used to work in monopolistic state-owned enterprises often struggle to adapt once they come into contact with reality
There’s really no need to take this too seriously; there’s always a way out!