Talking Point : Retrenchment

[shodan99]

Unfortunately, the market is rewarding those companies that engage in massive restructuring and retrenchment exercises. After news of restructuring, companies' shares usually react positively.

My concern is with these individuals who live in their ivory towers, preaching about upskilling, etc. It is obvious that this is not the case, as most individuals are not losing their jobs due to irrelevant skills but rather because they are made redundant due to restructuring. The interviewees are all young, in my opinion, fresh graduates.

What is concerning is that for SNEF, they are supposed to be on the side of employees. However, the SNEF executive director is suggesting not to include retrenchment benefits in the contract/law, stating that it would negatively impact the employees as more employee will be impacted because the company is experiencing financial difficulty. While I understand the need to consider various perspectives, it is important to explore all options carefully to ensure fair treatment of employees. I was appalled by this statement. How can we have someone like that representing us from his ivory tower? What is the purpose of cushion benefits? Has this executive director ever encountered retrenchment, has he ever worked in private sector?

Aiya, these people are just reiterating the government mouthpiece. Nothing good will come out of their mouths

 

[icansing]

pls save money now..no point working anymore

 

[thisisnotme1212]

ishs trues
mois ishs talenteds
buts whens mois says moi wans minimums 20ks
alls the companys runs
cans thes companys bucks ups?
20k also cannots affords?
sho lousys also dares tos calls themselves a companys

 

[BlowfishFTW]

I can never understand wat he means

 

[wulu1_69]

Suddenly like got a lot of retrenchment news come out.

Think gov know already that's why make show on tv, talk about feelings and moral support

Then send memo to all companies only after tv show then can start retrenching

Those affected better vote wisely

 

[sunsetbay]

The two ladies that were retrenched kept repeating on the less than two years should be compensated, they were high performers, they were caught off guard blah blah blah~ in the real world nobody own you a living~

The two experts gave advise on employees to reskill, upskill, skill future as good as no advise~

to better protect oneself, one should not rely on just one main job, do side hustles, dun let your employer handcuff you~

 

[Lasogette]

The two ladies that were retrenched kept repeating on the less than two years should be compensated, they were high performers, they were caught off guard blah blah blah~ in the real world nobody own you a living~

The two experts gave advise on employees to reskill, upskill, skill future as good as no advise~

to better protect oneself, one should not rely on just one main job, do side hustles, dun let your employer handcuff you~

I think she bear too much of a grudge against the prev company and this is stumbling her new job search.

Should just sua liao and just focus on looking new job.

 

[gn2807]

My personal experience: -

Foreigner colleague salary $3k, don't solve problems, throw all problems even the smallest ones to boss to resolve.

Sinkie salary $6k, solves all problems, didn't even need boss to solve anything.

Boss say the foreigner at $3k still the best!

 

[rizhal]

I can never understand wat he means

As peanut as his wife. I cannot understand too.

 

[LoneTraveller]

Agreed that it is concerning, however what the exec dir seems to be suggesting is the choice between "sacrificing a few trees or risk losing the forest".

Is there really a risk of the broader group of employees suffering the negative impacts of retrenchments?

That's why it's important to make pap lose votes. Under them,the govt and whatever govt related orgs will always side with employers. The west is over protective of their workers with unions, benefits etc but in Singapore, we have gone to the other extreme where employees are increasingly not protected at all.

 

[LoneTraveller]

I can never understand wat he means

He meant that boom and bust cycles are a norm in a fully functional economy. It is normal for a company that is not doing well to retrench and to hire if it is doing well which is indicative of a rational company and a fully functioning economy.

 

[Travis_Touchdown]

obviously The gahmen nose the retrenchment numbers in the coming months.


Thats why Tiko Wong comes up with extra skills future and career switch programme after 40yrs old.

yet. We still have large influx of FTs flocking in

because they can say they hab done their part riaoz... they gib chiu this skillsfuture credits to upskill chiurself... whether chiu go for upskill or notch... whether chiu can find jods after chiu upskill... notch their daijiz... they ish can open legs big big to let fts flood in riaoz...

 

[homer123]

Be careful of what you wish

Layoff will be a windfall for me after working 23 years in the same company

 

[Nefalrin]

Layoff will be a windfall for me after working 23 years in the same company

Later disguised retrenchment.
Company like to do this to avoid high payout ..

Just disguised as poor performance. Then good luck to you.

 

[jericho75]

So budget announced the training package really gonna start using liao.

 

[askxyz]

the talk show quite meaningless. like own ppl kaki kong kaki song. not trying to solve anything ... just parroting the same message from MIW

 

[homer123]

Later disguised retrenchment.
Company like to do this to avoid high payout ..

Just disguised as poor performance. Then good luck to you.

Even that is not a problem as I have not done much work for almost 3 years.. If I walk out empty handed, paychecks collected for the last 3 years more or less cover any severance package. If I get layoff with a package, it will just be icing on the cake.

 

[Shion]

covid revenge...

 

[andyhtc]

The two ladies that were retrenched kept repeating on the less than two years should be compensated, they were high performers, they were caught off guard blah blah blah~ in the real world nobody own you a living~

The two experts gave advise on employees to reskill, upskill, skill future as good as no advise~

to better protect oneself, one should not rely on just one main job, do side hustles, dun let your employer handcuff you~

Saving up and investing for a passive income is also important, particularly in the 40s when the financial commitments are very high.

 

[fs_lim]

In all crisis, only 4 areas are needed. Food, Water, Medical, Power generation.