Massive layoffs incoming in tech sector - in supposed stable companies

[swathe]

In summary, local Telco (like Singtel) and other local tech companies (possibly NCS or STE) are cutting contracts offered to fresh grads before they commence. These are people who typically offered jobs after their internships.

 

[RandomPancake]

Prepared to wash plates for a living riao

 

[swathe]

Fear-mongering rubbish by redditor who claims to have heard from inside connections.

Quote:

For those from SIT & SUTD especially with CS, Comp Eng degrees & other IT degrees, the pay they're being offered is shocking. With reference to the GES survey between SIT & SUTD, a basic graduate salary from CS would be between $4.8-5.5k/mth. However HRs are only offering a max of $3.5k/mth. They're not willing to offer them anything above $3.5k even with degrees being from local autonomous unis.

A few of them I asked what is causing even telecom companies & GLCs which are considered to be the safest employers to lay off people, it is simple, lack of profitability and HRs claiming inflated salaries being paid to these uni grads in comparison to the skills they are bringing to the table. Hence they are planning to suppress the salaries as quickly as possible.

Based on the story, it is not retrenchment. The people have not even started jobs.

But some facts are correct, NCS do (which I feel a bit geh kiang) offer quite high of more than $5k to some local uni fresh grads.

To me it is not salary suppression, it is salary correction.

 

[buttbERry]

Siao Liao lor like that

 

[swathe]

I am in tech industry and i know this is fake news, i work with audit and hr closely

You work in GLC and local telcos?

 

[Full_Cream_Milk]

I’ve never associated our “tech sector”

To be full of locals.

It seems to be clustered with people from predominantly one place.

 

[xiao.xin]

Most of it are rubbish but pt2 is not wrong. Hiring cheaper faster betterer.

My side just converted tons of them...

 

[dry_county]

In before: Mai spread fear hor…..

 

[Ubi-Warrior]

this coupled with AI development, advancement and replacement of jobs ... I've said this will cause massive social impact and unrest around the world and this is a worldwide issue ... just how fast it'll come ...

Govt got big war chest , no worry

 

[Suporter]

Have an open mind, so say one tokcok king.

 

[lbcben]

if no retrenchment, i worry

from someone, not me

 

[mooseolly]

The bad ones can be replaced by AI. The good ones get snatched by other companies such as:

Meta poached Apple’s AI engineer Pang with pay package over US$200 million: sources

 

[anchoraz]

Nw tech sector is like refugee camp. 5 yrs back. They say tech sector need alot pple cos other sector gg liao.

All those nontech pple no choice kena retrench then go to tech sector by going those short coz tk join tech company.

But mostly go inside playing taichi games due to their tech knowledge is limited. In the end company suffer due to productivity down.

Tats y tech firm will retrench due to playing taichi staff. Next move, close down if things nt improving.

 

[Godeau]

I believe that 2026 onwards will be worse.
Just imagine, now is just the infancy of AI taking meagre, low level jobs. In the future, when they get more sophisticated and fleshed out it'll start replacing the people in middle management as well.

 

[glarerder]

Only essential jobs are considered stable but not the pay they want.. the rest, even govt sector now prefer contract than full time, are not as stable as one may think.

 

[Ubi-Warrior]

I just go through this post.

Unless its 30%+ getting the axe , then it really is no big deal in the grand scheme of things

 

[vangug]

that is the SG economy in a nutshell... when orders come from the top the "private" sector follows... but this reddit post smells of bullcrap... cos if they really do this to the new bunch of graduates... they will raise a stink so bad it will make the little india riots feel like a pre-school roll call... this generation is not like gen-X and millennials... compliance is not built into them...

 

[ceestudent]

Very good news. Freshgrad can wait until they get the salary they desire. Don't settle for less, you deserved better!!
Mranwhile, leech your parent first..

 

[Itsnotfunny]

Many companies out there are struggling to trim their expenses.

To hire a fresh grad and pay 5-6k vs an experienced hire from oversea and pay 4-5k. No need to pay cpf. No need to worry about losing him to NS reservist. Straight away productive. No other gahmen incentives to hire local. No hurdles to hire FT as long as company apply for EP properly. U say leh?

 

[Itsnotfunny]

Very good news. Freshgrad can wait until they get the salary they desire. Don't settle for less, you deserved better!!
Mranwhile, leech your parent first..

Many take gap years and go round the world trip first. No worry. Be happy.