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retrenchment this year to be higher

hungary fighter

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Loyal
Labour chief Lim Swee Say expects retrenchment this year to be higher than last year's, but still below the historical average.

Low-skilled manufacturing workers will bear the brunt of job losses.

These workers, typically categorised as plant and machine operators and assemblers, form almost 10 per cent of Singapore's workforce of 1.8 million.

Mr Lim, secretary-general of the National Trades Union Congress, gave his response yesterday when asked for his retrenchment projections following recent official figures showing a slowdown.

He said in an e-mail reply to The Straits Times: 'We expect the number to be higher than last year, but likely to be still below the average level of 10,000.'


tatz is still quite a lot of ppl being retrenched......how is the government going 2 help those retrenched beside the said 'training & re-training & help them match jobs' standard answer???!!!
 

pia

Alfrescian
Loyal
Labour chief Lim Swee Say expects retrenchment this year to be higher than last year's, but still below the historical average.

Low-skilled manufacturing workers will bear the brunt of job losses.

Unfortunately, retrenchment comes with recession.. and it's clear we're heading into one. MY advice is:

1) if you're in a job, hang on. Bear with that asshole boss for a little longer :biggrin:. Unless you're in a sector unlikely to be affected e.g. oil & gas
2) save up a bit for the rainy day if it comes (6 months' pay?).. keep that plasma TV for later. Maybe time to review the needs (food on the table, utilities, school fees) and the wants (new car, new house, new mistress :wink:).
3) if you've been planning for that business setup, that time may be sooner than you think (due retrenchment)! But plan carefully even if you've amassed capital for it; a fool and his money are soon parted :rolleyes:.
 

hughgrant

Alfrescian
Loyal
good times come and go, but this time the good economy was very short. really bad news for most people
 

halsey02

Alfrescian (Inf)
Asset
does crybaby have tears rolling in his eyes when he said that??

Cry baby will cry only for China born mei mei, SINgaporeans, forget it!. Will there be a retrenchment for them, this year?...will WKS go?, or they will still give him a gold medal! ha ha ha ha :biggrin:
 

lifeafter41

Alfrescian (Inf)
Asset
Unfortunately, retrenchment comes with recession.. and it's clear we're heading into one. MY advice is:

1) if you're in a job, hang on. Bear with that asshole boss for a little longer :biggrin:. Unless you're in a sector unlikely to be affected e.g. oil & gas
2) save up a bit for the rainy day if it comes (6 months' pay?).. keep that plasma TV for later. Maybe time to review the needs (food on the table, utilities, school fees) and the wants (new car, new house, new mistress :wink:).
3) if you've been planning for that business setup, that time may be sooner than you think (due retrenchment)! But plan carefully even if you've amassed capital for it; a fool and his money are soon parted :rolleyes:.

Things are looking pretty tough and bleak hereon. Not easy to save for 6 months if everything is hand to mouth situation. 3 months already very tough.
 

1sickpuppy

Alfrescian
Loyal
Well I am near the end of my working life I won't mind getting retrench and get a lump sum to follow me retire. I missed out on my last retrenchment 5yrs back hopefully I will get it this time before I retire.
 

hughgrant

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Loyal
well, cheer up people. with the completion of IR in 2010, things will get better sooner than expected
 

splintuh

Alfrescian
Loyal
Well I am near the end of my working life I won't mind getting retrench and get a lump sum to follow me retire. I missed out on my last retrenchment 5yrs back hopefully I will get it this time before I retire.

Yeah. Some people have it really lucky. Lots of money saved up, can still volunteer for retrenchment and get huge payout. Then can go fly kite sing song. After that sian liao, still can go find another job if you don't mind the paycut.

That's retirement planning!
 

johnny333

Alfrescian (Inf)
Asset
can still volunteer for retrenchment and get huge payout.

That's retirement planning!


Many companies will find ways to get rid of unwanted employees without retrenchment benefits. Very easy to do in Spore. They then don't have to pay any benefits.
 
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