Retrenchment exercises are good for Singapore. It's a cleansing process whereby deadwood is removed and companies get the opportunity to rejuvenate.
It's also encourages those retrenched to do something a bit more adventurous with their careers as the opportunity cost equation shifts substantially towards taking more risk with much greater potential for a windfall return.
Wish we could say that for the people in government, not only we have a forest of 'deadwoods'; we have exotic fungi growing out of them & many of these fungi are phosphorescence.
Every election, we get the same 'deadwoods, & after that more phosphorescence fungi.
The lesser mortals are being 'rejunevated', when they age, they become 'deadwood' & eradicated, thrown into a heap & become compost.
Whereas the higher 'deadwoods' gets rejuvenated & continue to rot...
You probably think you are very witty and intelligent. You may be paid many millions of dollars for doing nothing or losing billions. But for the rest of us, we need to put in the required number of hard hours and toil, even if the job pays just minimum wages.
I know some promising science graduates who became avid test tube collectors too. Gotta listen to their lame test-tube punchlines and geeky jokes with chemical equations every now and then.
Ya, about time to see property come crashing down. Every economy cycle there is always Up and down. People who queue up at EC or whatever properties which they paid by a million, I have only this to say : GOOD LUCK!!
What retrenchment? I knew a filipina singer from Orchard Towers who went home and became a car salesgirl in Manila..... last week she contacted me asking for help to find accomodation for her as her company is sending a batch of sales people to the sister company in Singapore after X'mas.
Although the company has arranged for them to stay in some rental flats in Toa Payoh reserved for foreigners, she and her colleagues feels the place is too expensive for their low salary..... they are getting $800 basic + $150 transport + sales incentive if they hit the sales target. Btw, she sells Toyota vehicles in Manila.
In my opinion I do not think it is a real retrenchment but rather an exercise to replace the sinkies with FTs.
I hate this corporate doublespeak! What's wrong with simply saying "It's going to be tough!". "Forward" is the only way time flows at the moment. There is no other option.
"Foward" is a word showing two kind of mindsets. Either the employer is incompetent in coming out of current and future crisis or using PAP famous strategy by telling his workers beforehand don't expect anymore goodies ahead, even if the company is still making huge profit. Shareholders come first before the cheaper, better and faster workers.