COVID-19: Retrenchments

[Jamesc]

18 hours ago, Ct3833 said:

With more stuff going AI, and the accelerating of gig economy, more people will be getting lower pay jobs, and the new age of being forced out of the workforce would likely be earlier. Now 50+, 10 years later maybe 50. Those who are younger now better save hard to plan for earlier retirement. It will be bonus if one gets to work longer , but at least if one gets retrenched at 50, he has the financial option to cater for his basic needs without a job. 

I know so many 40+ kenna retrenched already long before Covid.

Only good thing is all house fully paid up and no debts

and all have a wife doing a high level job with good salary.

[Yewheng]

4 hours ago, Volvobrick said:

Aiyah - Remember the Active Mobility saga? Brains kena washed, back sides also washed. Cos komitee members all with vested interests, leading to one big mess, and many injuries/deaths.

Luckily, Finance ministry has been headed by someone more sensible (with regards to finance issues at least). 

There are many people with vested interest and lobby government.. Many are not obvious.. One of the thing that government should really look deep is the whole motor insurance industry. 

[Sdf4786k]

On 9/30/2020 at 9:59 AM, Throttle2 said:

It wouldnt be an issue if people dont kick the can down the road.

The problem at hand is people who keep kicking the can down the road.  And there are more cans to kick as we walk along the road.  Better solution for me is always to pick up the can and trash it properly.

most times, the CPF contribution should be able to handle the loans or the duration of the loans would have been paid up within maybe 7 year s?

so not sure if the Fund transfer price system has trigger alarm bells for the banks. 

[Throttle2]

19 hours ago, Voodooman said:

https://www.straitstimes.com/business/companies-markets/shell-to-cut-up-to-9000-jobs-by-end-2022-as-covid-19-forces?xtor=CS3-18&utm_source=STiPhone&utm_medium=share&utm_term=2020-09-30 17%3A09%3A31

i wonder how many from Singapore?  The pre owned branded garment business looks increasingly promising.

Not to worry, those who will kena retrench in Singapore all have multiple properties on mortgage collecting rent which will tide them through regardless.

 

muayhahah, property wan sui!

[Enye]

guess fts or singaporeans?

😬

 

BP Singapore Oil Traders Leave After Probe Into Disputed Deals

 

Serene Cheong and Alfred Cang

 

4 hrs ago

 

(Bloomberg) -- Four Singapore-based crude oil traders from BP Plc left the company after the conclusion of internal investigations into their involvement in several disputed deals, said people with knowledge of the situation.

The people -- comprising of a manager in the Asia trading team, two oil traders and an originator -- were placed on leave in July after their names were mentioned in court documents filed by banks that alleged suspicious transactions between trading houses. They left the company on Sept. 30, said the people, who asked not to be identified as the information is private.

A BP spokesperson declined to comment on the matter when contacted by Bloomberg News.

The trading staff affected hold portfolios focused on the company’s oil sales to Chinese customers, while the manager oversees crude trading in the region.

The company also asked employees to stop using China’s WeChat app on their work phones as a communication method with market participants and counterparts. The recommendation follows a similar move by U.S. oil major Chevron Corp. in late-September.

[Throttle2]

Oil and Gas industry also kena whacked.......but dont worry, still got you know what.....

[Roh96]

So far which sectors kenna hit badly?

- O&G

-Marine and Offshore

-Airline

-Tourism 

-Manufacturing (i heard some still doing ok)

-Construction

 

[Roh96]

1 hour ago, Throttle2 said:

Not to worry, those who will kena retrench in Singapore all have multiple properties on mortgage collecting rent which will tide them through regardless.

 

muayhahah, property wan sui!

Singapore property is our saviour. Huat ah!

 

[Sdf4786k]

43 minutes ago, Roh96 said:

So far which sectors kenna hit badly?

- O&G

-Marine and Offshore

-Airline

-Tourism 

-Manufacturing (i heard some still doing ok)

-Construction

 

Scomi Energy Services going strong ...

[Throttle2]

1 hour ago, Roh96 said:

Singapore property is our saviour. Huat ah!

 

Woooohoooo yes!

[ToyotaShuttle]

3 hours ago, Enye said:

guess fts or singaporeans?

😬

 

BP Singapore Oil Traders Leave After Probe Into Disputed Deals

 

Serene Cheong and Alfred Cang

 

4 hrs ago

 

(Bloomberg) -- Four Singapore-based crude oil traders from BP Plc left the company after the conclusion of internal investigations into their involvement in several disputed deals, said people with knowledge of the situation.

The people -- comprising of a manager in the Asia trading team, two oil traders and an originator -- were placed on leave in July after their names were mentioned in court documents filed by banks that alleged suspicious transactions between trading houses. They left the company on Sept. 30, said the people, who asked not to be identified as the information is private.

A BP spokesperson declined to comment on the matter when contacted by Bloomberg News.

The trading staff affected hold portfolios focused on the company’s oil sales to Chinese customers, while the manager oversees crude trading in the region.

The company also asked employees to stop using China’s WeChat app on their work phones as a communication method with market participants and counterparts. The recommendation follows a similar move by U.S. oil major Chevron Corp. in late-September.

I guess should be half half? Is that considered reasonable since they are supposed to focus on chinese customers?

What's your guess?

Quote

The company also asked employees to stop using China’s WeChat app on their work phones as a communication method with market participants and counterparts. The recommendation follows a similar move by U.S. oil major Chevron Corp. in late-September.

This is a little odd I think. Is bloomberg trying to target wechat? I thought bp traders aren't allowed to use whatsapp as well? Anyway, if it is true that using wechat/whatsapp is the reason for termination then it is just an excuse. Am sure all the other traders also use it - just not yet caught.

Edited October 1, 2020 by ToyotaShuttle

[Wt_know]

2 hours ago, Roh96 said:

Singapore property is our saviour. Huat ah!

 

yes ... 34,000 newly minted millionaires in the pipeline

Edited October 1, 2020 by Wt_know

[Windwaver]

On 9/29/2020 at 10:17 PM, Albeniz said:

In the future (after covid), more conference would be carried out in webinar/zoom style. 

This mode has recently been tested on a large scale and has become the new norm.

Fast and Furious.

Every time I hear "new norm",  I start to get worried.

I'm fine with the new norm, in fact, I prefer the new norm; save on transportation, time and money.

One of the reason might be because after meeting got 'action' or those activities that need to be done in close proximity , those people will prefer meeting up in person loh.

[Windwaver]

On 9/30/2020 at 8:06 AM, Mustank said:

Can eat is good ah! Now I want to eat I also think twice 🙁

1 set of nasi bryani can last me the whole day bro 

[Staff69]

Had an interesting conversation with a brit this evening while having a group drinking session.

Things started prim and proper, after a few pints, everyone got loosen up and conversation became more relax, abit of no holds barred. Started with, what's the covid numbers today. I replied, "about 15 imported and hundreds in workers dom".

"Oh no, you know,  me a foreigners,  when the company send me here, we thought,  maybe explore asia while here , during our tenure , but it's seems covid has spoiled all that. We didn't realise that covid would appear and it seems locals weren't very welcoming of us. 

 

Me: no lah, we welcome foreigners,  just that when some pockets of foreigners start playing the system, by systematically kicking out the locals and replacing them with foreigners. When enough of such incident happens and locals aren't able to find jobs, ended up doing private hire, food delivery or worst stuck in a job that cant makes end meet. You get backlash. 

Just look at London now, even the simple instruction of putting up mask, they can start a protest, saying they're unhappy with the rule. So bottom line, everyone will fight for their rights

Locals are just voicing out their concern that they didn't reap the benefits that government has promised them, better jobs,  pay, the swiss living standards that was promised decade ago.

The living expenses well, did reach swiss standard.🤣🤣🤣 

Conversation was switched to some other topic.

 

My own 2 cents conclusion, if this trend of foreigners gaming the system doesn't stop and locals cant find meaningful jobs to keep their families alive. 2025, 🔨🔨🔨🔨

To fellow Singaporeans, 

Edited October 1, 2020 by Staff69

[Fcw75]

This too, fellow Singaporeans.

It’s not about xenophobic when we speak out.

 

[Sdf4786k]

13 hours ago, Windwaver said:

I'm fine with the new norm, in fact, I prefer the new norm; save on transportation, time and money.

One of the reason might be because after meeting got 'action' or those activities that need to be done in close proximity , those people will prefer meeting up in person loh.

if sales meeting, yes.

If dept meeting, everyone is trying to go for lunch the moment it ends.

[Staff69]

Another case🤔?, happens in march 2020

 

https://www.onlinecitizenasia.com/2020/03/16/mncs-foreign-hiring-manager-relocates-from-hk-to-sg-and-proceeds-to-replace-sg-pmet-with-hk-lady/

 

Edited October 2, 2020 by Staff69