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Massive Wage Cut for Peasants After CNY! CONFIRMED?!

makapaaa

Alfrescian (Inf)
Asset
<TABLE cellSpacing=0 cellPadding=0 width=452 border=0><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published January 17, 2009
c.gif

</TD></TR><TR><TD vAlign=top width=452 colSpan=2>NWC asks firms to cut costs, save jobs
It revises wage guidelines, which are to take effect immediately until June30 this year

By CHUANG PECK MING AND EMILYN YAP
<TABLE class=storyLinks cellSpacing=4 cellPadding=1 width=136 align=right border=0><TBODY><TR class=font10><TD align=right width=20> </TD><TD>Email this article</TD></TR><TR class=font10><TD align=right width=20> </TD><TD>Print article </TD></TR><TR class=font10><TD align=right width=20> </TD><TD>Feedback</TD></TR></TBODY></TABLE>
and WITH the economy sinking fast and more job cuts on the line, the National Wages Council (NWC) has made a rare move - the third time in its 37-year history - to revise its wage guidelines and 'strongly' recommend companies hit by the downturn to freeze or cut wages to stay competitive and save jobs.

<TABLE class=picBoxL cellSpacing=2 width=100 align=left><TBODY><TR><TD> </TD></TR><TR class=caption><TD>MAIN THRUST From left, Prof Lim and Mr Heng at the release of the NWC's revised wage guidelines yesterday. Prof Lim said the main thrust of the revised guidelines was to cut costs to save jobs</TD></TR></TBODY></TABLE>'We are doing our best to be prepared for the worst,' NWC chairman Lim Pin said yesterday when the council announced updated wage guidelines.
The NWC last released its annual wage guidelines in May 2008 against a backdrop of global economic uncertainty and high inflation.
The guidelines, among other things, urged companies doing reasonably well to grant built-in pay increases and to consider giving a one-off special lump sum to workers to cope with inflation.
The revised wage guidelines are to take effect immediately until June 30 this year. The council will meet again to decide on the 2009/2010 guidelines, which take effect on July 1.
Professor Lim said the main thrust of the revised wage guidelines is to cut costs to save jobs.
Noting that a rising number of companies are facing low demand and excess capacity, the NWC 'strongly recommends that companies adversely affected by the economic downturn work with the unions and workers to reduce and manage total costs'.
In consultation with unions and workers, the companies may 'implement a wage freeze or wage cut commensurate with their performance and prospects in order to help companies stay competitive and save jobs'.
The NWC suggested that companies turn to their flexi-wage systems to act swiftly.
'They should make use of the variable components in the wage structure, such as the annual variable component and monthly variable component to reduce their wage costs,' it said in its guidelines.
For companies less hit by the downturn or still doing well, the NWC said 'they should reward their workers with moderate wage increase'.
But in view of the uncertain short-term outlook, the increase should be made largely in the form of variable payment so that their long-term cost competitiveness will not be eroded.
The NWC noted that layoffs reported to the Manpower Ministry and the National Trades Union Congress (NTUC) rose 'significantly' in Q4 2008. Unemployment and retrenchment this year could also be 'substantially higher' than in 2008.
Singapore's resident unemployment rate in September 2008 was 3.3 per cent, up from 2.4 per cent a year ago. The figure once hit 6.2 per cent in September 2003 during the Sars crisis.
'By helping companies to reduce costs, especially the manpower costs, we hope in return companies can moderate their headcount reduction. . . We think retrenchment can be worse if we don't do this,' said NWC member Stephen Lee, who is also president of the Singapore National Employers Federation.
But Lawrence Leow, president of the Association of Small and Medium Enterprises, said the revised wage guidelines would only go some way to help save jobs. 'In a protracted downturn, companies may not have a choice but to retrench if there is just not enough work available.'
Accepting the revised guidelines, the government said in a statement that they are 'timely'.
'Companies should implement this recommendation based on their individual circumstances and taking into consideration the impact of the downturn on the company,' it said.
Indicating the 'immediate priority' of the labour movement is to save jobs, union representative Heng Chee How, who is also NTUC's deputy secretary-general, backs NWC's call to use the flexi-wage system to cushion against the impact of the downturn.
The NWC also urged companies to turn to the Tripartite Guidelines in Managing Excess Manpower and the $600 million Skills Programme for Upgrading and Resilience (SPUR) to help cut cost.
The Tripartite Guidelines include measures such as shorter work week and temporary layoff. SPUR helps companies foot the bill for retaining and retraining workers.
The NWC further said companies should not let up in the push for long-term initiatives, including retraining older workers and women wanting to work and raising productivity.

</TD></TR></TBODY></TABLE>

0507_A13.jpg


U peasants deserve it! *hee*hee*
 

makapaaa

Alfrescian (Inf)
Asset
>>>Singapore's resident unemployment rate in September 2008 was 3.3 per cent, up from 2.4 per cent a year ago. The figure once hit 6.2 per cent in September 2003 during the Sars crisis.<<<

Define "resident unemployment rate".
 

batman1

Alfrescian
Loyal
<TABLE cellSpacing=0 cellPadding=0 width=452 border=0><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published January 17, 2009
c.gif

</TD></TR><TR><TD vAlign=top width=452 colSpan=2>NWC asks firms to cut costs, save jobs
It revises wage guidelines, which are to take effect immediately until June30 this year

By CHUANG PECK MING AND EMILYN YAP
<TABLE class=storyLinks cellSpacing=4 cellPadding=1 width=136 align=right border=0><TBODY><TR class=font10><TD align=right width=20> </TD><TD>Email this article</TD></TR><TR class=font10><TD align=right width=20> </TD><TD>Print article </TD></TR><TR class=font10><TD align=right width=20> </TD><TD>Feedback</TD></TR></TBODY></TABLE>
and WITH the economy sinking fast and more job cuts on the line, the National Wages Council (NWC) has made a rare move - the third time in its 37-year history - to revise its wage guidelines and 'strongly' recommend companies hit by the downturn to freeze or cut wages to stay competitive and save jobs.

<TABLE class=picBoxL cellSpacing=2 width=100 align=left><TBODY><TR><TD> </TD></TR><TR class=caption><TD>MAIN THRUST From left, Prof Lim and Mr Heng at the release of the NWC's revised wage guidelines yesterday. Prof Lim said the main thrust of the revised guidelines was to cut costs to save jobs</TD></TR></TBODY></TABLE>'We are doing our best to be prepared for the worst,' NWC chairman Lim Pin said yesterday when the council announced updated wage guidelines.
The NWC last released its annual wage guidelines in May 2008 against a backdrop of global economic uncertainty and high inflation.
The guidelines, among other things, urged companies doing reasonably well to grant built-in pay increases and to consider giving a one-off special lump sum to workers to cope with inflation.
The revised wage guidelines are to take effect immediately until June 30 this year. The council will meet again to decide on the 2009/2010 guidelines, which take effect on July 1.
Professor Lim said the main thrust of the revised wage guidelines is to cut costs to save jobs.
Noting that a rising number of companies are facing low demand and excess capacity, the NWC 'strongly recommends that companies adversely affected by the economic downturn work with the unions and workers to reduce and manage total costs'.
In consultation with unions and workers, the companies may 'implement a wage freeze or wage cut commensurate with their performance and prospects in order to help companies stay competitive and save jobs'.
The NWC suggested that companies turn to their flexi-wage systems to act swiftly.
'They should make use of the variable components in the wage structure, such as the annual variable component and monthly variable component to reduce their wage costs,' it said in its guidelines.
For companies less hit by the downturn or still doing well, the NWC said 'they should reward their workers with moderate wage increase'.
But in view of the uncertain short-term outlook, the increase should be made largely in the form of variable payment so that their long-term cost competitiveness will not be eroded.
The NWC noted that layoffs reported to the Manpower Ministry and the National Trades Union Congress (NTUC) rose 'significantly' in Q4 2008. Unemployment and retrenchment this year could also be 'substantially higher' than in 2008.
Singapore's resident unemployment rate in September 2008 was 3.3 per cent, up from 2.4 per cent a year ago. The figure once hit 6.2 per cent in September 2003 during the Sars crisis.
'By helping companies to reduce costs, especially the manpower costs, we hope in return companies can moderate their headcount reduction. . . We think retrenchment can be worse if we don't do this,' said NWC member Stephen Lee, who is also president of the Singapore National Employers Federation.
But Lawrence Leow, president of the Association of Small and Medium Enterprises, said the revised wage guidelines would only go some way to help save jobs. 'In a protracted downturn, companies may not have a choice but to retrench if there is just not enough work available.'
Accepting the revised guidelines, the government said in a statement that they are 'timely'.
'Companies should implement this recommendation based on their individual circumstances and taking into consideration the impact of the downturn on the company,' it said.
Indicating the 'immediate priority' of the labour movement is to save jobs, union representative Heng Chee How, who is also NTUC's deputy secretary-general, backs NWC's call to use the flexi-wage system to cushion against the impact of the downturn.
The NWC also urged companies to turn to the Tripartite Guidelines in Managing Excess Manpower and the $600 million Skills Programme for Upgrading and Resilience (SPUR) to help cut cost.
The Tripartite Guidelines include measures such as shorter work week and temporary layoff. SPUR helps companies foot the bill for retaining and retraining workers.
The NWC further said companies should not let up in the push for long-term initiatives, including retraining older workers and women wanting to work and raising productivity.

</TD></TR></TBODY></TABLE>

0507_A13.jpg


U peasants deserve it! *hee*hee*

Pinkee :Hey u peasants ! U loss (pay cut) is my gain ! It's a zero sum game !Ha! Ha! U peasants can never win me as I have 66.66% very strong support!
Every general election,I sure win one like XO Durian all guaranteed good one !
 

Areopagus

Alfrescian
Loyal
The resident unemployment rate is a clever way of presenting the statistics. It lumps together citizens and PRs. PRs who lose their jobs leave the country and those outside the country are assumed to be employed but are simply adding to the denominator. Thus, the resident unemployment rate will remain low despite rising unemployment in SG citizens...

For example:

Year One:
1000 citizens
40 unemployed - unemployment rate 4%

Year Two:
1000 citizens and 500 PRs.
60 citizens unemployed (All unemployed PRs have left the country and are not tracked). Unemployment rate has dropped to 3%

What wonderful leaders! In spite of a recession, they have brought down the resident unemployment rate by 25%. World's best! Give them all a raise!! Don't listen to the extra unemployed Singapore citizens - they are just whiners!!!
 

Cestbon

Alfrescian (Inf)
Asset
The resident unemployment rate is a clever way of presenting the statistics. It lumps together citizens and PRs. PRs who lose their jobs leave the country and those outside the country are assumed to be employed but are simply adding to the denominator. Thus, the resident unemployment rate will remain low despite rising unemployment in SG citizens...

For example:

Year One:
1000 citizens
40 unemployed - unemployment rate 4%

Year Two:
1000 citizens and 500 PRs.
60 citizens unemployed (All unemployed PRs have left the country and are not tracked). Unemployment rate has dropped to 3%

What wonderful leaders! In spite of a recession, they have brought down the resident unemployment rate by 25%. World's best! Give them all a raise!! Don't listen to the extra unemployed Singapore citizens - they are just whiners!!!

Good observation. That what gov try to hide the info for as long as they can. Now in Sinkland workforce ratio citizen(pink IC) compare to non citizen(PR,FT......) ratio is 1 citizen to 2 non citizen. This is the highest ratio in the world.
 

metalslug

Alfrescian
Loyal
http://newpaper.asia1.com.sg/news/story/0,4136,190090,00.html?

NATIONAL WAGES COUNCIL RELEASES REVISED GUIDELINES
Freeze or cut wages to save jobs? We're already doing that, say firms
By Crystal Chan

January 18, 2009




THE National Wages Council has come up with recommendations that companies have already begun to implement: Wage freeze and cuts.

As early as November, when the recession hit, some businesses began cutting or freezing salaries to contain costs and avoid retrenchments.

Companies are also cutting costs in areas other than staffing.


These were exactly the measures that the NWC recommended yesterday, after taking the unusual step of meeting for the second time in eight months to tackle the worsening economy.

Ms Winnie Low, general manager of recruitment consultancy Words and Action, which specialises in banking jobs, said her clients are already offering salaries that are 10 to 20 per cent less.

She said: 'The banks did their calculations based on the demand for jobs and the supply of job-seekers, especially with the next batch of fresh graduates entering the market soon.

'Banks are offering mainly contract positions but job-seekers don't mind as banking is still seen as being glamorous.'

Restaurateur Beppe De Vito has also cut his staff's salaries by up to 20 per cent, and done away with part-timers.

Mr De Vito, who owns high-end Italian restaurants Il Lido and Forlino, said: 'The main priority should be to maintain the costs close to what was budgeted.'

He also implemented other cost-saving measures, such as reducing advertising and replacing expensive dishes with cheaper ones to attract budget-conscious diners.

At yesterday's conference, the NWC said 2,346 workers were axed in the third quarter of last year, up from 1,798 the previous quarter. The number is expected to be substantially higher after Chinese New Year as the recession worsens.

While some companies have already taken the initiative to cut or freeze wages, Ms Lynne Ng, regional director of recruitment firm Adecco SEA, said the NWC's announcement means companies not already considering salary adjustments would note the consequences of the current market conditions.

Ms Ng said: 'Whether the economy is performing well or badly, companies should always be thinking about the most optimal way to run their business.'

The NWC also said that companies that are still doing well should give moderate wage increments to their workers.

This is a practice that restaurant chain Waraku, which has more than 200staff, has already implemented.

Waraku's chief financial officer Francis Thong, said good performers were given moderate wage increments and bonuses. He declined to give figures.

Last resort

He said: 'Layoffs and wage cuts will be a last resort. I won't say we're doing well, but we still need staff as we're going ahead with expansion, given the opportunities.'

Mr Thong added that Waraku has implemented other cost-saving measures, such as producing ingredients in-house instead of relying on imports.

He said: 'We're performance-driven so rewarding good staff will motivate them to do better.'

There were mixed feelings among employees whose salaries have been cut.

Writer Jimmy Xu, 28, whose employer has cut salaries by 10 per cent, said: 'My employer undertook these measures despite being profitable. I think some companies are just taking advantage of the bad times to exploit their staff.'

Mr Xu added that besides wage cuts, his employer has also implemented a compulsory alternate four-day working week for staff.

However, Mr Patrick Koh, 35, an accounts director, feels wage cuts were all right so long as jobs are not lost.

He said: 'My company has frozen salaries but I'm all right with this. In times like these, it's better to keep my job than to have an increment.'

Recruitment experts said it is not unusual for companies to cut costs even when they are doing well.

Ms Annie Yap, chief executive of GMP Group, said: 'Because it is hard to predict how the recession will turn out, these companies might retrench unproductive staff to contain costs.'

No CPF cut

NWC chairman Professor Lim Pin said his council had considered CPF cuts, but decided against it as it was a blunt tool that would affect workers in companies that were doing well too.

Prof Lim said: 'More importantly, it has long-term implications. It affects employees' savings, housing, medical care and old age allowances.'



--------------------------------------------------------------------------------


JOB SITUATION

Unemployment rate

3.3%
Sep 2008

3.1%
Jun 2008




Retrenchments

2,346
3rd quarter 2008

1,798
2nd quarter 2008

* Unemployment and retrenchment this year are expected to be substantially higher than in 2008

SOURCE: NATIONAL WAGES COUNCIL
 
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