COVID-19: Retrenchments

[Albeniz]

Has retrenchment already taken place or is your company freezing headcount at the moment?

[Atonchia]

I think maybe join politics. 🤔

Since nothing to do and still want to contribute to our society, joining politics seemed to be the only choice.......

If I am rich and care for greater society probably I will join minority..... 

If I need income.... Probably join the majority.... then get a job somewhere.... 

Kick away all the lousy foreigners, only get the good people into our society, those that can really join us as SG United..... ❤️

🤣

Edited May 4, 2020 by Atonchia

[Voodooman]

5 hours ago, Albeniz said:

Has retrenchment already taken place or is your company freezing headcount at the moment?

Pay cut has started but mass retrenchment not yet as govt is paying 75% of wages, most companies can tahan a few months with JSS and rental rebates,  June/ July will probably accelerate. 

[Philipkee]

10 hours ago, Atonchia said:

I think maybe join politics. 🤔

 

Seeing how I sometimes shoot out what I am thinking to get my point across even if politically incorrect, I better not join.  Will get shot unnecessarily.

On a serious note

Many years ago in 2004, I quitted my job to go backpacking.  My thinking is when I return, should have no problems getting a job.  Nursing is always in demand.

So i went.  I tried to apply when i was returning but no one replied.  Maybe cos I was still overseas.

I returned.   I applied.  Still nothing.  As the weeks went by, I started to worry as I was still paying for a house and of cos I needed to pay for my daily expenditure.  I had six months worth of house payments in my cpf when I quitted my job and it's been over three months already.  I even applied and went for an interview to be a port lasher.  I was about to go to NTUC to see if they needed a cashier.

Then I got an interview in a hospital.  And I got the job.

So I wasn't retrenched before but i can feel a bit of the desperation felt when one has no job and need to pay bills.

That was the first and last time i was unemployed for any period more than a month (even ORD to first day of work was less than a month).  And I never ever assumed that nursing is in such great demand that you can just quit and go somewhere else easily.  Its possibly like that but never take things for granted.

Edited May 4, 2020 by Philipkee

[Throttle2]

On 5/5/2020 at 7:39 AM, Philipkee said:

Seeing how I sometimes shoot out what I am thinking to get my point across even if politically incorrect, I better not join.  Will get shot unnecessarily.

On a serious note

Many years ago in 2004, I quitted my job to go backpacking.  My thinking is when I return, should have no problems getting a job.  Nursing is always in demand.

So i went.  I tried to apply when i was returning but no one replied.  Maybe cos I was still overseas.

I returned.   I applied.  Still nothing.  As the weeks went by, I started to worry as I was still paying for a house and of cos I needed to pay for my daily expenditure.  I had six months worth of house payments in my cpf when I quitted my job and it's been over three months already.  I even applied and went for an interview to be a port lasher.  I was about to go to NTUC to see if they needed a cashier.

Then I got an interview in a hospital.  And I got the job.

So I wasn't retrenched before but i can feel a bit of the desperation felt when one has no job and need to pay bills.

That was the first and last time i was unemployed for any period more than a month (even ORD to first day of work was less than a month).  And I never ever assumed that nursing is in such great demand that you can just quit and go somewhere else easily.  Its possibly like that but never take things for granted.

A loss of job is a sudden major change of your life routine.

the mechanism we hv in our brains suddenly has to do an about turn. 

Even for people who willingly retire or quit, its difficult.

thats why it recommended to do it in stages if its voluntary

go slow first before completely stopping and allow your life to be filled with other things so that you dont hit a void.

believe me, i am the Chairman.

[Throttle2]

On 5/4/2020 at 6:16 PM, Albeniz said:

Has retrenchment already taken place or is your company freezing headcount at the moment?

As mentioned by Voodooman, i know of some cuts happening but it’s hush hush and at high level employees.

i believe that we will only see real cuts into the mass market starting 3Q.  Overall, i think the real crunch for workers and employees at all levels will be in 2021.

Buckle up !

[1fast1]

1 minute ago, RadX said:

you mean of 2

 

right hand and left hand

 

@Turboflat4 say one

No lah. I say staff of 6.

Rosy Palmer and her five sisters. 😁

And they work hard for the "staff" in charge. 😂

Edited May 6, 2020 by Turboflat4

[Scion]

On 10/4/2019 at 6:22 PM, Kyrios said:

Lai liao...more retrenchments..ki Xiao liao..

https://www.channelnewsasia.com/news/business/hp-jobs-cut-restructuring-retrench-11968830

HP To Retrench Folks Here As Well

 

no surprise, HP cutting jobs again

https://www.straitstimes.com/business/companies-markets/hewlett-packard-enterprise-plans-cuts-in-jobs-executive-pay-to-temper

[Voodooman]

 

1 hour ago, Scion said:

 

no surprise, HP cutting jobs again

https://www.straitstimes.com/business/companies-markets/hewlett-packard-enterprise-plans-cuts-in-jobs-executive-pay-to-temper

With more business going online/ cloud and as companies are forced to beef up VPN capability and plug security gaps, won't HP Enterprise have more business going forward, at least for some of its business divisions?  

I don't know much about this industry. Just curious.

[Voodooman]

On 5/6/2020 at 11:36 AM, Throttle2 said:

A loss of job is a sudden major change of your life routine.

the mechanism we hv in our brains suddenly has to do an about turn. 

Even for people who willingly retire or quit, its difficult.

thats why it recommended to do it in stages if its voluntary

go slow first before completely stopping and allow your life to be filled with other things so that you dont hit a void.

believe me, i am the Chairman.

Chairnan,

Was yours voluntary?   I think it is really hard to walk away from a job that pays well even if you hate it. If you like it, most will work till they drop dead.

[Scion]

37 minutes ago, Voodooman said:

 

With more business going online/ cloud and as companies are forced to beef up VPN capability and plug security gaps, won't HP Enterprise have more business going forward, at least for some of its business divisions?  

I don't know much about this industry. Just curious.

 

i dunno... they are like massive hire during good times, and massive retrench during bad times

used to have friends in HP, think they underwent 3-4 retrenchments since 2008/9... now not many left

[Kyrios]

2 hours ago, Scion said:

 

i dunno... they are like massive hire during good times, and massive retrench during bad times

used to have friends in HP, think they underwent 3-4 retrenchments since 2008/9... now not many left

HP was my first job ever actually. It was my most memorable one in terms of working memories when manufacturing was still a mainstay in SG.

Then the scholars said they want to go into higher value added technologies instead of low cost mfg. It seemed like a text book logical solution in the mid 2000s. But the move, coupled with increasing rents and utilities costs, only preciptated the demise of the local manufacturing plants. Many engineers turned to sales, teaching or insurance as a means to feed their young families. The so called high end technologies sectors is not an arena which would readily take on local engineers. While highly paid, these sectors rather import FTs rather than hire locals. Locals if any were to be hired, would merely be used to wash test-tubes. Meanwhile the low end mfg job opportunities were filled in readily by MOM who opened the floodgates to 'engineers' from india, myanmar or philippines. The rest as u know, is history.

Im surprised HP can still eke out a living here for so long. I wonder what happened to their fab at depot road..

Edited May 25, 2020 by Kyrios

[Throttle2]

4 hours ago, Voodooman said:

Chairnan,

Was yours voluntary?   I think it is really hard to walk away from a job that pays well even if you hate it. If you like it, most will work till they drop dead.

No it wasnt.  As mentioned i was retrenched Dec 2015. 

Was quite glad about it as i was in the midst of planning my move anyway.  So receiving money to go was a wonderful thing. 

You know mid life crisis, money doesnt matter as much, prefer to do something which feel more interesting and with people you feel you can trust.  

Yes its a lot harder to walk away if i was staying in a $6mil semi D with a $3mil condo and driving a $750k Bentley and going for $50k per year holidays. But i never ever did that.  I had no debt, and more than what i need.  Plus 5 figure passive income every month till this day.  

Did i like my job? Of course there are aspects i would love and also hate. You can never hv your cake and eat it.  I do it purely to continue to buffer as much as i can since my children are still young.

Now i work as a Clerical Asst, which is still quite challenging and keeps me in the circles and pays my cigar bills.  

Oooops, gotta go do my dishes, dont hv a maid . 

 

 

[Porker]

8 minutes ago, Throttle2 said:

No it wasnt.  As mentioned i was retrenched Dec 2015. 

Was quite glad about it as i was in the midst of planning my move anyway.  So receiving money to go was a wonderful thing. 

You know mid life crisis, money doesnt matter as much, prefer to do something which feel more interesting and with people you feel you can trust.  

Yes its a lot harder to walk away if i was staying in a $6mil semi D with a $3mil condo and driving a $750k Bentley and going for $50k per year holidays. But i never ever did that.  I had no debt, and more than what i need.  Plus 5 figure passive income every month till this day.  

Did i like my job? Of course there are aspects i would love and also hate. You can never hv your cake and eat it.  I do it purely to continue to buffer as much as i can since my children are still young.

Now i work as a Clerical Asst, which is still quite challenging and keeps me in the circles and pays my cigar bills.  

Oooops, gotta go do my dishes, dont hv a maid . 

 

 

Cough "bull s h i t" cough LOL

[Throttle2]

33 minutes ago, Porker said:

Cough "bull s h i t" cough LOL

Basket keep quiet so long then come in to cough and laugh at me....bloody hell...

[Scion]

those MNC are ever so ready to carry out massive retrenchment at the first sight of trouble

i guess it's still ok if you are in your 20s

but if you are already in your 40s/50s, it's really a difficult stage in life to encounter retrenchment

 

[Sdf4786k]

22 hours ago, Voodooman said:

 

With more business going online/ cloud and as companies are forced to beef up VPN capability and plug security gaps, won't HP Enterprise have more business going forward, at least for some of its business divisions?  

I don't know much about this industry. Just curious.

The market is super competitive. U buy from the famous 5 some of them pacakage with support pack for existing os operating that organisation struggle with to move forward, but on the radar of MAS.

You get 3 quote, another famous software company will tell you, dont need to get quote, just minus 50% off from the competitor and thats the selling price.

Instead, they will tell you "Talk to me when u have RFP." I suppose most of this cloud solution provider have been taken for a ride for entertainment and now a bit smarter. Use to be kowtao to amtk and other asian towkay and kangchiong spider to serve.

While its true that the digital transformation and cloud space has boom, even the telco has jump on the bandwagon.

Telco has also gone for virualisation , so highly competitive space for talent.

So tech giant should be quite happening no.?

Unfortunately, it depends . If you are top heavy, the perks and cost of supporting the seniors is even more happening.

Also with compilance , data cannot suka suka upload. Regulators wants to know where it is siting. 

Imagine if sg banking data sits in another country. And some how need to investigate a company. A subpoena needs to be serve to that country in order for the data to be provided to the regulators.

There are far more cost related issue but thats like exposing a whole lot of dirty laudry...

Edited May 26, 2020 by Sdf4786k

[Sdf4786k]

15 hours ago, Scion said:

those MNC are ever so ready to carry out massive retrenchment at the first sight of trouble

i guess it's still ok if you are in your 20s

but if you are already in your 40s/50s, it's really a difficult stage in life to encounter retrenchment

 

Not really true, but its easier to serve notice to your contractors than to existing headcount as once you release it, it not coming back unless you do a switcharoo. Retrench , rehire as a contractor comsultant.