Haiz...retrenchment letter? :(

[Vratenza]

  On 2/22/2024 at 2:59 AM, Throttle2 said:

Hope we see more retrenchments, the people of this country needs some disruption to become better, stronger for the future.

we hv been way too comfortable.   Next gen becoming the grasshopper instead of the ant.

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mai lah......not enough lecturer, youtuber/tiktoker, Grab driver/rider positions to absorb these retrenchments lah...

[Throttle2]

  On 2/22/2024 at 3:06 AM, Vratenza said:

mai lah......not enough lecturer, youtuber/tiktoker, Grab driver/rider positions to absorb these retrenchments lah...

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Can lah, such positions are for Singaporeans only.

no problem, more than enough vacancies for these high paying jobs

[Benarsenal]

  On 2/22/2024 at 2:59 AM, Throttle2 said:

Hope we see more retrenchments, the people of this country needs some disruption to become better, stronger for the future.

we hv been way too comfortable.   Next gen becoming the grasshopper instead of the ant.

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Don't think so. Too much disruption the country will collapse. We are too far gone down the road.

Once you up there, cannot go down already.

[Throttle2]

  On 2/22/2024 at 5:10 PM, Benarsenal said:

Don't think so. Too much disruption the country will collapse. We are too far gone down the road.

Once you up there, cannot go down already.

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Dont scared lah we are far from it

[Victor68]

Retrenchment or any loss of job is not a single person problem for many. It is a very serious problem for most middle and low income families. 

[Watwheels]

Saw yesterday's night CNA talk on labour laws covering retrenchment, hosted by DIana Ser. Not on YT yet.

Kinda sad to see we are far behind the likes of Thailand, Indonesia and even China. These countries have laws that better protect the local workers who were retrenched. The laws they had made sure the workers are properly compensated. Here we have the tripartite which is imo ineffective cos once the companies cry that they are in some kinda financial trouble they are let off w/o penalty and of course the workers wont get anything. It seems the companies here are better protected compared to our local workers which I find is quite bizarre. 

[Windwaver]

 

[Throttle2]

  On 2/23/2024 at 12:18 AM, Victor68 said:

Retrenchment or any loss of job is not a single person problem for many. It is a very serious problem for most middle and low income families. 

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Yes hopefully, higher income folks get retrenchment.  Middle and low income, hope they dont get retrenchment.

[Benarsenal]

  On 2/27/2024 at 6:46 AM, Throttle2 said:

Yes hopefully, higher income folks get retrenchment.  Middle and low income, hope they dont get retrenchment.

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Sadly that's not how the world works.

Higher income generally more immune to retrenchment. Most companies will get rid of lower ranks first.

[Victor68]

  On 2/27/2024 at 8:51 AM, Benarsenal said:

Sadly that's not how the world works.

Higher income generally more immune to retrenchment. Most companies will get rid of lower ranks first.

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While it is true that the higher income has a bigger buffer, they are also much more exposed and with more commitments. Downgrade can be very painful too.

Generally, never take too big a bite and choke yourself. Plan ahead especially in the current climate. Take care. 

[Throttle2]

  On 2/27/2024 at 8:51 AM, Benarsenal said:

Sadly that's not how the world works.

Higher income generally more immune to retrenchment. Most companies will get rid of lower ranks first.

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higher income higher chance of retrenchment in multinationals.

not talking about mass layoffs, thats different   Talking about targetted strategic retrenchment all else equal 

so it depends.

retrenchment is about efficiency and function or purpose. If no purpose, cut the high costing ones all else equal

 

 

[Throttle2]

  On 2/27/2024 at 8:56 AM, Victor68 said:

While it is true that the higher income has a bigger buffer, they are also much more exposed and with more commitments. Downgrade can be very painful too.

Generally, never take too big a bite and choke yourself. Plan ahead especially in the current climate. Take care. 

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Thats what i always say

been saying that since the start of this forum

thats why i dont live in semi d or bungalow, nor do i drive S class or supercar.  GLC Jimny Harley no problem 
 

if retrenchment comes again, i simply smile and collect paycheck. We are responsible for our own situation most of the time. 

Edited February 27, 2024 by Throttle2

[Playtime]

  On 2/27/2024 at 10:17 AM, Throttle2 said:

 

higher income higher chance of retrenchment in multinationals.

not talking about mass layoffs, thats different   Talking about targetted strategic retrenchment all else equal 

so it depends.

retrenchment is about efficiency and function or purpose. If no purpose, cut the high costing ones all else equal

 

 

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Actually case by case too.

I know of those in the higher bracket who are really ok with taking a break. Especially those who already settled property. 

Those in the lower bracket most cannot even take break. ... talking about myself 😒😭

[RadX]

Agree..: I want retire also boss no allow so carry on lo😂😂

 

but I’m in my ideal spot..

[Throttle2]

  On 2/27/2024 at 10:58 AM, Playtime said:

Actually case by case too.

I know of those in the higher bracket who are really ok with taking a break. Especially those who already settled property. 

Those in the lower bracket most cannot even take break. ... talking about myself 😒😭

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You clearly misunderstood what i was talking about.  But its fine

on your point, i agree.  
i am one of them, debt free 100% since 2013. 

Edited February 27, 2024 by Throttle2

[Jellandross]

  On 2/23/2024 at 1:37 AM, Watwheels said:

Saw yesterday's night CNA talk on labour laws covering retrenchment, hosted by DIana Ser. Not on YT yet.

Kinda sad to see we are far behind the likes of Thailand, Indonesia and even China. These countries have laws that better protect the local workers who were retrenched. The laws they had made sure the workers are properly compensated. Here we have the tripartite which is imo ineffective cos once the companies cry that they are in some kinda financial trouble they are let off w/o penalty and of course the workers wont get anything. It seems the companies here are better protected compared to our local workers which I find is quite bizarre. 

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It's true. During our company recent global layoffs, SG is the first phase chop chop done. EU has the best labour laws takes at least few mths before can chop anybody. 

SG nowadays can one year service get one mth compensation already very good. Most companies give lower from what I see.

[inlinesix]

  On 2/27/2024 at 11:40 AM, Jellandross said:

It's true. During our company recent global layoffs, SG is the first phase chop chop done. EU has the best labour laws takes at least few mths before can chop anybody. 

SG nowadays can one year service get one mth compensation already very good. Most companies give lower from what I see.

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Singapore INC le

[Benarsenal]

  On 2/27/2024 at 10:17 AM, Throttle2 said:

higher income higher chance of retrenchment in multinationals.

not talking about mass layoffs, thats different   Talking about targetted strategic retrenchment all else equal 

so it depends.

retrenchment is about efficiency and function or purpose. If no purpose, cut the high costing ones all else equal

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Got some people end up too big and too important to let go, even if they eff up.