Serious Great News! DBS sacked all its useless Remisiers - Contributs to PMET Grab Driving Employment

[Pinkieslut]

DBS drops bombshell on remisiers
Yesterday Business Times asked DBS if it was planning to close down its stockbroking arm. DBS replied that it would hold a townhall meeting with the remisiers on its restructuring plan.

Last night the DBSVickers remisiers were told that they could not continue with their stockbroking business and the bank would explore ways to redeploy them based on their qualifications and experience as well as age, subject to the bank's policy on hiring older employees, market practices and MOM regulations on retirement age. Their businesses and clients will be taken over by the bank.

Many remisiers were in shock and disbelief with this bombshell coming immediately after the Chinese New Year festivities. Many have spent 20 or more years with the DBSVickers. With many remisiers quite senior in age and having been in the stockbroking business most of their lives, it is unlikely that they could find suitable jobs with the bank with comparable income. The younger remisiers are very concerned as they have young children to feed and their livelihood is likely to be adversely affected, rice bowl broken.

The remisiers are now pondering over their next move over this financial crisis in their lives. With the difficulties in finding another job, the older remisiers can forget about this option and join the statistics as retirees and not add to the list of the unemployed. The situation for the younger remisiers is just as bleak unless the bank could find them alternative employment with equivalent income.

This is looking like a fire that has just started in the industry and the fear is that other banks or broking houses could follow suit and the problem could spiral into something beyond recognition. The coming GE could have another hot issue to blow hot and cold about.

Hard times are here for the stockbroking industry, the remisiers and supporting staff. How would this add to the pool of the unemployed PMETs in Singapore?

Wonder what is the position of MAS and the govt with this announcement?

 

[tun_dr_m]

Economy will bite the dust for most parts of the world.

CNY over = comes the retrenchment exercise. Reality time!

 

[no_faith]

Nothing they can do LPPL
Replace by their import villagers

 

[Narong Wongwan]

Haha karma finally comes round.
Dbs comspired with Lky Brother to usurped good old J ballas of his company. Finally now the company going bankrupt. Is Lky Nephew still calling the shot in vickers?

 

[rushifa666]

These remisiers usually are old fucks. Another reward for landslide pap generation

 

[AhMeng]

Remisers... Lol Another class of vermins comparable to property agent and insurance agent ... It's about time that they disappear in society. No sympathy.

I hope one day, property agent and insurance agent will get the same shit too. Once the population gets more and more educated, there is no need for such middlemen who suck money for transactions where they add little or no value.

 

[Scrooball (clone)]

Oh come on who still uses a remiser these days?

The same idiots who still use a fax machine?

How’s that diffferent from other jobs which lost their place due to technology? Anyway remember in the good old days where every office has a typist?

 

[red amoeba]

That’s y the Merdeka package will come in handy. After, they can be Grab driver after getting the license.

 

[A Singaporean]

Again only Sinkies are affected. Huat ah.

 

[whoami]

Tot equities market doing well in sinkieland.

 

[bobby]

Ah Neh remisers will be safe...

 

[laksaboy]

The truth is stockbroking is a profession that will be replaced by Artificial Intelligence.

https://www.bbc.com/news/business-34264380

 

[bobby]

Stockbroking days were numbered the after the very first script-less shares were traded....

 

[Leongsam]

Too many sinkies in the remisier pool. This is an easy way of getting rid of all of them in one fell swoop.

 

[JustLikeThis]

Too many sinkies in the remisier pool. This is an easy way of getting rid of all of them in one fell swoop.

In my naive younger days, I confronted founding father why our education system is so unforgiving (unlike the west). He told me that Singapore needs limit university grads and poly grads and JC dropouts will ensure that there is a consistent-supply of educated pool of youngsters to improve the standards of our taxi-drivers, property agents, remisiers, insurance agents, etc

 

[Hypocrite-The]

Remisiers are self employed like property agents and insurance agents. They get commissions n not salaries so I doubt the impact is tat huge. They can go to another brokerage house. N take their clients with them. N most of them are near retirement or past retirement anyway. So no Biggie. Also alot of remisiers are still around because they are looking after their legacy customers. Those old non tech savvy customers.

 

[mojito]

PAP solving surge pricing and oppie infestation. Two birds one stone.