Retrenchment in Singapore 2012 to 2014

[Albeniz]

The world economy is not doing well and there are reports everyday that expect the situation to worsen due to the European crisis.

 

A quick check on the internet shows that a few companies have started/are starting their retrenchment exercise, e.g. HP and NOL.

Have you heard of any other companies which are retrenching?

Edited June 3, 2012 by Albeniz

[Sleeper]

Heard from my colleague, Blackberry( smartphone), returned another40% of their staff. She used to work for them last year.

[Sleeper]

Sorry typo error. Should be retrend not returned. Pie say...

[LoverofCar]

Nothing new...just that we are not informed...HP also retrence and more to come

[Tayspiderx]

Just came back from Phuket in first week of school holiday...no crowd only retirees hanging out, restaurants only one table or none occupied on Saturday nights...

[Nzy]

Sometimes getting retrenched might be a blessing in disguise. Lol. My mum was retrenched a few years back. They company compensated her for all the years she worked there. What they did not know was that she already had an offer from another company asking her to join them with even more benefits and better pay. With the compensation she invested in another property and renting it out now as passive income.

 

If there are signs that you are going to be retrenched then just start looking for another job lo.

Edited June 3, 2012 by Nzy

[Wt_know]

1-in-6 got SGD1.25M investible asset

COE at record high

Property (record breaking psf) sibei hot until whatever cooling measures cannot cool it down

.

.

.

kind of a different picture of what you are painting leh

Edited June 3, 2012 by Wt_know

[Albeniz]

1-in-6 got SGD1.25M investible asset

COE at record high

Property sibei hot until whatever cooling measures cannot cool it down

.

.

.

kind of a different picture of what you are painting leh

 

This is exactly a deja vu of what I witnessed in the 1998 crisis. In 1997/1998, property prices were sky-high, COE was at its peak too, yet my HDB carparks were filled with big cars like Mercs and BMWs. It was impossible to find a parking lot when I returned at 9pm.

 

Then that fateful day finally came, and my HDB carpark suddenly became very empty.

The symptoms are there.

 

 

 

[Ysc3]

This is exactly a deja vu of what I witnessed in the 1998 crisis. In 1997/1998, property prices were sky-high, COE was at its peak too, yet my HDB carparks were filled with big cars like Mercs and BMWs. It was impossible to find a parking lot when I returned at 9pm.

 

Then that fateful day finally came, and my HDB carpark suddenly became very empty.

The symptoms are there.

 

要享受，就要接受

[Wt_know]

but 1 in 6 got SGD1.25M leh ... unless all lost at one go

i was chatting with my kaki that eurozone burst ... all hell breaks loose

but he said after 2008 lehman collapse ... a lot of people especially sporean being kiasu had keep cash pile up ... that's why property is hot ... TOO MUCH CASH ... LTV 60% also bo tai chi to whack property

hence, even eurozone burst ... of coz it will be bad but they have prepared

 

 

This is exactly a deja vu of what I witnessed in the 1998 crisis. In 1997/1998, property prices were sky-high, COE was at its peak too, yet my HDB carparks were filled with big cars like Mercs and BMWs. It was impossible to find a parking lot when I returned at 9pm.

 

Then that fateful day finally came, and my HDB carpark suddenly became very empty.

The symptoms are there.

Edited June 3, 2012 by Wt_know

[Bystander50]

1-in-6 got SGD1.25M investible asset

COE at record high

Property (record breaking psf) sibei hot until whatever cooling measures cannot cool it down

.

.

.

kind of a different picture of what you are painting leh

 

You believed in all these data released by them?

They didn't even specify what are the criterias used to arrive at this number.

 

Property cooling measures will never work unless there is a drastic drop in HDB prices, private properties are taking reference from HDB and HDB is taking references from private properties.

And people are still rushing to buy coz they believe prices will keep going up, better to get now than impossible later.

 

Retrenchments are here to come. Anyone remembered, in the last recession, only sg in the region kena, while our neighbours ain't affected.

 

[Jp66]

my friend and his team kenna a surprised pink letter last Thurs, no pre-warning, called into a meeting and that's it, next day everyone out of job.

 

and I am counting down.....

[Wt_know]

wow ... what industry?

 

my friend and his team kenna a surprised pink letter last Thurs, no pre-warning, called into a meeting and that's it, next day everyone out of job.

 

and I am counting down.....

 

[Jp66]

wow ... what industry?

we are both in IT. The most volatile function in any organization.

[Wt_know]

all eyes on greece on 17th june

if exit eurozone ... euro (currency) fked up and all hell break loose

i wonder european still got mood to watch euro2012 ...

Edited June 3, 2012 by Wt_know

[Albeniz]

but 1 in 6 got SGD1.25M leh ... unless all lost at one go

i was chatting with my kaki that eurozone burst ... all hell breaks loose

but he said after 2008 lehman collapse ... a lot of people especially sporean being kiasu had keep cash pile up ... that's why property is hot ... TOO MUCH CASH ... LTV 60% also bo tai chi to whack property

hence, even eurozone burst ... of coz it will be bad but they have prepared

 

This is exactly where the problem lies, many cars and properties are "bought" with heavy loans and over long period of time. Heavy leveraging and not paid with real hard cash.

 

When the fateful day comes and when the musical chair finally stops, many people would be caught pants down.

 

 

[Jamesc]

Just came back from Phuket in first week of school holiday...no crowd only retirees hanging out, restaurants only one table or none occupied on Saturday nights...

I think thats cos its low season for Phuket.

 

Hight season is from Nov to Mar.

 

[Albeniz]

all eyes on greece on 17th june

if exit eurozone ... euro (currency) fked up and all hell break loose

i wonder european still got mood to watch euro2012 ...

 

Whether Greece exit eurozone or not after the 17th June election, both consequence will be bad.

To be followed by Spain and Italy.

 

Unlike the Lehman case, this is going to be worse because the default and bailout is at country level.