COVID-19 : Are you retrenched? Or Salary Cut?

[Pss2]

I have heard friends around me getting pay cuts or retrenched. Anyone of you had similar experience. What if company retrench us during this period? 

[Throttle2]

1 minute ago, Pss2 said:

I have heard friends around me getting pay cuts or retrenched. Anyone of you had similar experience. What if company retrench us during this period? 

Retrench , retrench lah.

so what?

company cannot make it already, of course cut jobs lah.

people think jobs can really be saved if businesses die?

 

Just join my Brotherhood ....

Edited April 2, 2020 by Throttle2

[13177]

If company really no business and need to retrench or close down due to covid also no choice. But if company got pay retrenchment benefit, hopefully can use that money to tahan a while before look for another job.

[Throttle2]

Good luck good luck

those who join my Brotherhood now please make sure you hv minimum 3yrs buffer. 

as chairman i set the example with 30yrs buffer

have to start charging membership fees soon

[Volvobrick]

My gut feel is most don't even have 6 mths buffer. The gahmen probably knows that, hence the helicopter money. 

Edited April 2, 2020 by Volvobrick

[Throttle2]

9 minutes ago, Volvobrick said:

My gut feel is most don't even have 6 mths buffer. The gahmen probably knows that, hence the helicopter money. 

Becos in most recent years, we have adopted a more “angmoh” style.  Spend first talk later.  Ask the 20something to 30something singles...

our fathers were not like that and our values are still quite traditional.  Down to Earth.  Dont wear a hat too big.  Be very careful with leverage.  

My father retired at 55, 20 yrs ago.  He was working class although white collar.  

Nowadays who can easily retire at 55? And still live a very decent life?  Not easy.

[Evo5sg]

T2, you in your late 40s?

[13177]

Many people expenses very big nowadays, they earn how much and spend how much. Cannot save much.

[Throttle2]

3 minutes ago, Evo5sg said:

T2, you in your late 40s?

I am always 28

becos my gf is 23 

[UncleAtas]

40% pay cut.

Work & paid for 10 days only.

[Throttle2]

6 minutes ago, UncleAtas said:

40% pay cut.

Work & paid for 10 days only.

You?

So jialat? 

[UncleAtas]

Now im queuing at CC asking for handout.

[UncleAtas]

1 minute ago, Throttle2 said:

You?

So jialat? 

Travel industry is bleeedinggggg….

[Throttle2]

Just now, UncleAtas said:

Travel industry is bleeedinggggg….

Oh you in travel industry....

yes very tough now.  

But your buffer big big right?

[Windwaver]

Retrench quite normal leh, don't always over leverage yourself.

[Roh96]

Why is govt rushing to pass laws to ensure landlords pass rebate to tenants in full?

High land price is one of the main killers and is probably the fastest killer to businesses during downturn. As much as govt had earned a lot from land sales during boom years, I am glad they are swift to cough it out during crisis.

This crisis came too fast and too sudden, totally caught everyone unprepared. To go through a financial reversal is challenging, especially if you have been living a high life style all these years. Hopefully these ppl also have buffered some of their savings for rainy days. 

[Voodooman]

Asian companies are generally slower to retrench, look at the Americans, millions are jobless in weeks after Covid hits their shores in a big way.  But we don't have a social safety net, so it will be doubly painful for us.  Luckily we don't have bubbles.  🤪

[Hydrocarbon]

29 minutes ago, UncleAtas said:

Now im queuing at CC asking for handout.

Got money, take some first, feed family.. I suspect will have firesale of property and cars by June 🤣.. Hope the car I want, price drop like siao.