Who says DBS is SMART?

[Paffendorf]

oh no! that's sh*t work man....damn....tiring...

Edited November 18, 2008 by Paffendorf

[Throttle2]

Thats what i do leh.......

 

So you guys all good life, dont complain

[Ugene]

bank pay is only good if you are in

- Investment banking (ECM, M&A)

- Front Office (Derivative trading, Research and Sales)

- Management

[Throttle2]

The biggest cuts are there too

 

look out

[Silver_z]

That forummer is a frog in the well. Coz he thinks that $240,000 is a lot of money. Well to us, it is. But in banking, we talk in figures like $240, $500, $800, $1050, $1800, etc... with a 'm' behind. The reason to retrench him coz he is no use to the bank and may be a burden. This MD may be the one who got DBS into a bad strategic position. Losing $240k is better than $2,400m.

 

Btw, $12k is only VP pay. MD should be way way higher than that.

Edited November 20, 2008 by Silver_z

[Drive_carcar]

Engineering is not the worst lah

 

Cleaning Services is the worst.

 

Ever tried wiping tables during lunchtime CBD?

very siong....

 

I thought IT line is worst? Even toilet cleaners enjoy better status....

[Longg8]

ya..and the cut will be mostly from there, moving forward..hahaha...

 

ECM - basically can go eat grass already...

[Santa]

Does this forumer makes sense or is DBS just plain NUTS?

 

 

 

http://forums.asiaone.com/showthread.php?t=15911

 

 

I don't understand................got one DBS Managing Director who was retrenched today and newspapers say he got like 20 months salary as retrenchment package is it?

 

Assuming his Managing Director pay is S$12,000, then 20 months would be S$240,000! And S$12,00 is just a modest estimation on my part.

 

If that's the case, won't DBS suffer a loss? I mean, the purpose of retrenchment is to save costs, but by paying this guy S$240,000 in advance, what are they thinking?!

 

DBS lose one-shot S$240,000 (20-months worth of salary) by sacking a staff and he don't even need to work at DBS anymore, and he gets free pay. If they keep him, they will only need to pay him S$12,000 a month and stil get his work contributions and results.

 

If that's the case, why people can still cry when get retrenched? If it's me, I would be praying to the Heavens and hope my company retrench me ASAP, immediately if possible.

 

That Managing Director must be laughing all the way to the bank.

 

He don't even need to work for the rest of his life, assuming he sells his bungalow and buying 4-room flat and car(s), with his savings all these while and that S$240,000 goodie he received from generous DBS.

And there'll be more than enough $$$ leftover for his son's education and daily food and groceries.

 

What's the rationale of these big fat-*** retrenchment pay? Has these companies gone bonkers after suffering big losses recently?

 

 

 

if everyone think like you, there be no economy in this world

 

for someone who has reach managing director - u think 240,000 is alot for him

he/she probably is in his 40's - how long can 240,000 last him.

and at this age with this seniority - it is not easy to find another job.

 

but i do agree with u, why pay 20 month to someone in such bad time, why not keep him for 1 more year and see if the economy pick up

[Santa]

well sometimes these kind of exercises are an opportunity for downsizing. DBS rushed into it, without consulting the union etc. reeks of bottomline improvements more than long term needs to reduce costs (which they have been doing lately).

 

moreover koh boon hwee has come out to say that they are going to do more, be more stringent, be more in your face. do more with less staff ? pity those staying. golden handshake does indeed sound better.

 

this NI TUA YOU CHENG is a joke la, since when there are labour law or union for anyone earning more than 1,500 per month...those above these bracket not covered by labour law (correct me if i am wrong).

[Hishercar]

hey bros

 

it is not me leh

 

it is the guy who posted his opinion

 

I dont exactly agree with him but then everybody got their own opinion

 

you will be surprise that some people do make alot of sense

 

and we certainly can learnt from them

[Tanjkp]

That forummer is a frog in the well. Coz he thinks that $240,000 is a lot of money. Well to us, it is. But in banking, we talk in figures like $240, $500, $800, $1050, $1800, etc... with a 'm' behind. The reason to retrench him coz he is no use to the bank and may be a burden. This MD may be the one who got DBS into a bad strategic position. Losing $240k is better than $2,400m.

 

Btw, $12k is only VP pay. MD should be way way higher than that.

 

Who knows ? He maybe the one who recommended the LB to the TCs ? (just joking)

So now get X !

[Cheekg98]

So, just why is POSB hiring now?

Letter from Darren Chong

.DBS Group, South-east Asia

[Nolicense]

rehires at lower pay? better than redeploy and cannot cut pay

[Solar]

some colleagues and i have been 'volunteering' for years.. somehow never get approved...

[Hishercar]

it is a cost saving measure lah

 

if hire new then on new terms

[Privacy]

Managing Director should not be $12k only.

otherwise very sad.....

typo la.... 120...missed out a zero..

about 1.5 buck... thereabout...

[Neutrino]

Anyone tried the upgraded refurbished DBS/POSB outlet in Clementi Town center.

 

What a joke.

 

Long queue just to get a queue number.

 

Multi questions to find out which service you want.

 

Customer service helpers to direct you to the right queue after you get a queue number who could be better help to customers if they were behind a counter shortening the queue.

 

Asked if it was this busy because it was saturday.  Told it was like this every day.

 

Upgrade????

 

More like severe downgrade for customers.

 

First World

[Galantspeedz]

Erm... you know you can sms to get Q number hor?