GLOBALLY, the economic situation is far from being bright and adverse effects are manifesting themselves in many ways, including job losses.
Worldwide, reports abound of even major economic giants performing badly in terms of economic fundamentals.
In July 2015, for instance, the International Monetary Fund (IMF) projected that the global economic growth for this year would be at 3.3 per cent, marginally lower than in 2014.
That is about half of Zambia’s average growth rate in the last 10 years.
As already alluded to, the major and unfortunate manifestation of the situation is the loss of jobs globally.
In September 2015, international media reports indicated that more than 200,000 oil and gas workers across the globe had lost their jobs since the  crude oil prices collapse started last year.
The number of lay-offs has been accelerating whenever oil prices go down.
Since Zambia is a non-oil producing country, these figures may seem too remote to invoke any consideration but what about this: Standard Chartered, an Asia-focused bank based in London, plans to cut 15,000 jobs worldwide as part of reshaping of the financial institution under its new chief executive.
The bank, which has significant presence in Zambia, said on Tuesday this week that it plans to cut the 15,000 jobs to accelerate its cost cutting, upgrade its technology and reduce exposures to riskier assets.
In announcing this, Standard Chartered became only the latest European bank to do so on the plans to raise capital alongside a major overhaul of its operations this year.
Several others in Europe and elsewhere have shaken up their top management as they face slowing growth and stricter regulatory requirements.
Seemingly, Standard Chartered Bank’s decision came in the wake of a pre-tax loss of US$139 million in the third quarter, driven by its winding down of some businesses, depressed commodity prices and challenging conditions in several crucial markets, including China.
We would therefore, like to remind the nation that any job loss by a citizen is not a political issue but an economic one.
The regrettable job losses which could be happening among the companies, including the mines in Zambia, have nothing to do with the government policy.
There has not been any major economic policy shift in the country for some time, meaning that the same policies, under which Zambia has scored economic superlatives before, are still in effect.
What has changed is the global economic trend, whose effects have besieged Zambia since it is a member of the global village, and a major commodity exporter.
It is, therefore, unfair and reckless for anyone, including politicians, to apportion the blame on the government or Republican President Edgar Lungu.
Zambia, as a major commodity exporter, will continue suffering the effects of lower copper prices on the London Metal Exchange and other market platforms.
While regretting the situation, it is obvious that threats of job cuts among, especially mining investors, will continue because they have to make some business decisions whenever they are faced with adverse situations.
What is important is for the investors to, like the government officials have said before, ensure dialogue with the labour movement and not to ambush anyone with job cut announcements.
The employers in the name of the mines and others, should also sacrifice a little by retaining their workforces, while the job cuts should be used as the last resorts.
More importantly, the investors should know that today they may not need some of the workers, but there would be a time when they will need everyone, if not more, of them.
After all, the global economic downturns do not last forever!