Congrats to 148 freed slaves and defaulted loan

[downgrader]

I wonder how many of the 148 have mortgages to pay and how soon they will default and bank put the property up for auction

HO SAY LIAO LAH

Anyway congrats and for those who have been fired. If you have been reading my threads for last three years you know I am not being sarcastic and that this is a really good thing for humanity and the environment

There is too much wastage of energy on working hard to buy things we don't need

For those fired you are now free. Watch Brad Pitt's Fight Club and you will get some sense of what I am talking, although I am not in favour of anarchy. I am just anti-consumerist, anti-gambling and anti-stock market




Parkway Holdings axes 148 jobs, cuts management pay by 5-35%
By Timothy Ouyang, Channel NewsAsia | Posted: 15 December 2008 1304 hrs


Photos 1 of 1

(File Picture)

SINGAPORE: Parkway Holdings is cutting the salaries of its senior and middle managers by up to 35 per cent.

Parkway, the parent company of Parkway Group Healthcare and Parkway Hospitals, is also cutting its total workforce in Singapore by about four per cent, or some 148 jobs.

Parkway's senior managers will see cuts in base salaries of between 15 per cent and 35 per cent, while its middle management's base salaries will be reduced by between five per cent and 10 per cent.

The Group will also waive its directors' fees this year.

"The regional healthcare sector is not immune to the effects of a volatile global economy," said Richard Seow, Chairman of Parkway Holdings.

The mainboard-listed Group added that its regional healthcare business remains sound and long term industry fundamentals remain intact.

But it was taking actions necessary to prepare the company for a more difficult and challenging market environment ahead.

Channel NewsAsia understands that none of its nursing staff will be retrenched.

Parkway has implemented a series of cost-cutting measures, including the freezing of non-clinical corporate headcount, since July 2008.

The Group employs some 3,700 staff in Singapore.

 

[downgrader]

Come on fire more retrench more, cut more pay yeah yeah yeah

Come all of you join me kiao ka cho bo just eat bread everyday and sing a song of freedom

 

[theblackhole]

you can laugh and celebrate as you like. singapore is going to pull through this dark period.we are a very resilient people. we have great leaders.never say die until the last man and the last cent. singapore will stay cool, calm and collected. we will survive!!!

 

[congo9]

you can laugh and celebrate as you like. singapore is going to pull through this dark period.we are a very resilient people. we have great leaders.never say die until the last man and the last cent. singapore will stay cool, calm and collected. we will survive!!!
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Singapore will pull through this crisis ......i agree with you ! But you are half correct. Singaporean will pull through because we are strong ppl...........not because we have GREAT LEADERS !

 

[dysentry]

Life is better off without capitalism, we have to look for new modes of living.

 

[SIFU]

you can laugh and celebrate as you like. singapore is going to pull through this dark period.we are a very resilient people. we have great leaders.never say die until the last man and the last cent. singapore will stay cool, calm and collected. we will survive!!!
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Singapore will pull through this crisis ......i agree with you ! But you are half correct. Singaporean will pull through because we are strong ppl...........not because we have GREAT LEADERS !

pls lah.. ALL countries will pull thru this crisis.. hav u ever see a country that disappear from the earth becos of some economic crisis??

 

[downgrader]

STATS ChipPAC says it is axing 1,600 jobs

DBS Bank and NOL have already cut about 1,900 jobs in total

That means more people won't be able to pay mortgage, resulting in forced sale or auction

Property prices will fall some more as more people get pay cuts or job cuts

HO SAY LIAO LAH!!!

 

[singveld]

you said....I am just anti-consumerist, anti-gambling and anti-stock market


how can that be good?
without that.. there will be no wealth in society
we will be like living like tribes, but there are too many human to go to tribal life for all.
that can only mean one thing, war and death.

if no one buy things they dun need, there will be no jobs, if there is no jobs, there will be unrest, riot, war and hunger.

how can that be good?

you learn stuff from Hollywood movies??? be real.....
it is just a movie.
you cannot unwind the clock for progress.

 

[ahleebabasingaporethief]

The sad thing is they retrenched the "lowest cost to company" people that needed the jobs most.

Ask around if this is true? I read in another forum somewhere, mostly only new and lowly paid employees were retrenched. These are the people that need the jobs the most. Fark them elites.

So what if you take a pay cut of 35% FOR THE TOP MGMT? If you are making $50K a month, after 35% pay cut, you are still making $32.5K a month.

But for employees that were retrenched, the majority are probably those that were in the below $3K a month range. That's my guess after reading. People earning $3K and below are already the suffering majority in S'pore.

 

[allanlee]

But for employees that were retrenched, the majority are probably those that were in the below $3K a month range.....

For each 3K employee that was retrenched, they can hire another 2.5 FTs for the same amount..... as it oredi is, I can hardly find a local staff whenever I visit their hospital :(

 

[besotted]

It's true that locals - especially younger workers --are too pampered while foreigners are hard working and humble

Hopefully with the influx of more foriegners locals will wake up