retrenchment this year to be higher

[hungary fighter]

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]

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 . 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 ).
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 .

 

[hughgrant]

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

 

[Mighty Megatron]

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

Extremely short :(

 

[halsey02]

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

 

[hungary fighter]

i think itz time 4 me 2 get tat taxi license just in case i also kana retrenched......can still drive taxi.....

 

[hughgrant]

i think itz time 4 me 2 get tat taxi license just in case i also kana retrenched......can still drive taxi.....

taxi driving not easy money u know.. stressful everytime kena scolding for taking wrong route and risk of accident due to tiredness

 

[hungary fighter]

i know but must hav some sort of income while i look 4 better job.....hard life living in s'pore.....

 

[lifeafter41]

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 . 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 ).
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 .

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.

 

[Ramseth]

If there's no retrenchment, SM G.C.T. worries, how?

 

[1sickpuppy]

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.

 

[tommy]

Got to tighten belt this year :(

 

[tonychat]

retrenchment this year to be higher

Hurray!!!! Sinkies deserve it. More to come. You deserve what you vote for.

 

[ahbengsong]

where's my golden period ????????

 

[hughgrant]

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

 

[splintuh]

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]

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.

 

[hungary fighter]

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

mayb need 2 enrol 4 those casino courses or something like that.......

 

[jhunter]

Well, no one ever complains when they get big bonuses in good years.

 

[chinchai]

What to do, recession is coming :p