Lai liao........DBS CEO sees job cuts of 4,000 temp staff as AI replaces roles

[Iamnobodyla]

Temps no, but a lot of companies hire many many contract staff these days

Even civil service now got many many contract staff on 1-year period niah

Only thing they get over temp staff is medical coverage and paid leave

No completion bonus?

 

[nasfieldjohn]

dbs share price to da moon
still need to leetrenched?

 

[leaving_footsteps]

Likely customer service gets axe first.

But the AI chat bots often cmi.

 

[GhostZM]

今晚我应该会睡得很香。


CheerS!!!

 

[wongwings]

Retrenchment is good for share prices, all in DBS now.

 

[swenson]

If projects are complete then need to keep for what?

exactly!!!!

 

[icebleue]

More grab folks.

Hope grab fares drop soon.
it’s overpriced. More cars, less demand, lower fares.
Good outcome. In Portugal now 12km uber costs only 10 euros ($14), 40 mins ride.

 

[samferguson]

A buy for DBS.

 

[fade_white]

Cut temp counted as cut job meh?

 

[orwell76]

Can DBS cut foreigners instead, cos temp staff now mostly Singaporeans who can't get perm jobs

 

[s-ghost]

wah only Feb nia so many good news one after another

 

[shikoo]

So where will the money saved from replace 4000 temp staff goes to?

 

[shidenx]

Make no mistake. Dbs temp also do alot of impt stuff.

Perm staff must buck up liao.

 

[shidenx]

So where will the money saved from replace 4000 temp staff goes to?

Next dividend cycle to shareholders

 

[swenson]

dbs share price to da moon
still need to leetrenched?

Precisely... Share price is dictated by buy/sell demand/supply market, often associated with profitability and history of dividends payout.

Nett Profits are distributed to shareholders (like many of us who play the equities market) after bonuses are paid out to Full time staff. This year I believe is quite good for the full time staff.

To the moon or sun doesn't matter. It is not considered retrenchment because these are temp/contract jobs and are termed, not full time. Just that not renewed because there is no requirement to extend. Separate issue

 

[Jeremy1]

If don't cut, how to push up DBS Share Price higher

 

[Toiletpaper80]

https://www.businesstimes.com.sg/co...es-job-cuts-4000-temp-staff-ai-replaces-roles

 

[DicDok]

An la… contract and temp staff only..

More good years ahead.

Means after 63 years old even healthy also cannot work liao.

 

[Flexamoria]

Good leh, means more money

 

[DulanMax]

Internal Audit going to replace your jobs?