Massive layoffs incoming in tech sector - in supposed stable companies

[lifeisinforashock]

Short term prop up gdp
Long term more unemployed pple / employed but at lower salaries = hit consumption = more retailers toh.

 

[AndroidComa]

Prepared to wash plates for a living riao

our grads with AI training not going to WASH plates lah
operate plate washing machine

 

[fly1111]

Got worst than 1998 or 2008 financial crises? Even civil servants oso got jiak cuttlefish

Civil servant jiak cuttlefish? Sure anot? U mean those on contract? On contract is not civil servant.

 

[Flexamoria]

 

[lampano]

AI already starting to screw us up, after FT

 

[cyke69sg]

it'll be fast and tech is the powerhouse, stocks will boom but people will be outta a job



Read HWZ Forum Rules!

Yes. Need to be invested. This is the last chance.

Already everyone is buying and not selling.

Will be a base of the have and have nots.

 

[N4E.SI]

The news whether fake or true is totally irrelevant.

If you are true blue Sinkie male who served 2 yrs NS, the truth is finding job is gona be extremely difficult every year regardless of market conditions.

However, if you are from a certain country and equipped with Uptron degrees, then finding high paying jobs with great career prospects in the tech and finance industry is extremely easy and quick!

So dun blame the market conditions, US trade war, AI revolution etc etc.... it's becos SG has a open leg policy where Uptron degrees > NUS/NTU/SIM etc

 

[heroking]

why china MNC no retench in SG?
i see tencent like many employee very day their ppl happy eat big fish big meat

 

[AuraKUPO]

Layoffs are good for the company finances and profits. Good for the stock.

Exactly bro. I support massive and colossal retrenchment. Inflation will be down, interest rates will be reduced, stocks will chiong, and jlb will be eliminated to welcome hardworking work force.

 

[AuraKUPO]

The news whether fake or true is totally irrelevant.

If you are true blue Sinkie male who served 2 yrs NS, the truth is finding job is gona be extremely difficult every year regardless of market conditions.

However, if you are from a certain country and equipped with Uptron degrees, then finding high paying jobs with great career prospects in the tech and finance industry is extremely easy and quick!

So dun blame the market conditions, US trade war, AI revolution etc etc.... it's becos SG has a open leg policy where Uptron degrees > NUS/NTU/SIM etc

But if you own self behkan and lazy, can blame who? I have worked with FTs and I find them pleasant to work with. They are also on the ball reply very fast. On the other hand, sinkies only taiji and drag the matter until the sky snow

 

[wahlaneh]

If you are the boss of a company be it small SME coy or big MNC coy, you think about it - if AI can save you potentially millions in salary + other bonuses each year will you go for AI? You dont need spend money to send them for courses or even overseas training and best of it all, they wont complain, give you attitude, take leave or MC

 

[zhoholang]

Got worst than 1998 or 2008 financial crises? Even civil servants oso got jiak cuttlefish

It will be worst. Now civil service very little perm role already

 

[nasfieldjohn]

in after who they voted 4

 

[RedEyesFan]

Looks like going to have more teachers with cs degrees.

 

[pwongkk]

Whatever pappies touches will be doomed to fail.

Look at biopolis, has it succeeded as a biotech hub after so many decades?

 

[matrix05]

It will be worst. Now civil service very little perm role already

CS scholar HR very smart. Reduce perm positions 100% Sinkie, increase contract positions (50-50 Sinkie-PR) and outsource positions (90% FT).

 

[pwongkk]

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

Then why are the big coys like MS, Cisco ... etc retrenching?

Tiagong Cisco going to have another round this year.

 

[angel99999]

Been happening for a long time. It's only now that govt and public universities cannot find jobs that become headlines.
More than 10 years ago, a friend graduate from SIT hospitality program go into hotel line starting only $1400, the establishment don't even recognize degree in fields like hospitality.
Sadly for this friend, hotels is like that, they don't need overqualified persons but need persons who are experience driven. Fast track to today, she is a property agent.

 

[Kunkka]

https://teatalk.app/post/301

 

[pwongkk]

Agree. Nowadays quite different or maybe I old liao. 40s already.

This shows too many economic refugees in sg's job market.

During the lockdown days when they are not allowed in, sinkies were hired with high pay. This shows the impact of economic refugees in the workforce affecting sinkies.

I rather see it the other way, the real talents are the bangala workers who does the real work. I have no issues with them, any time their skills are much more appreciated than the PMET economic refugees.