Get readu for wage cuts!

[Zanter]

This is good excuse for our bosses huh?

 

 

 

 

SINGAPORE: Economic watchers are expecting the National Wages Council (NWC) to address the issue of salary cuts to brace for the current difficult economic times.

 

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Channel NewsAsia understands from employer and union representatives that the council, which was reconvened recently, met again on Wednesday. Its revised guidelines are expected next week.

 

The last time the NWC recommended a wage cut to save jobs was in 2003 during the SARS period.

 

In 2003, the NWC proposed that in view of the severe impact of SARS on the economy, companies directly affected by the outbreak implement appropriate wage cuts to survive the downturn and to save jobs.

 

Economic watchers said the time has come for the NWC to revisit this need for companies to survive and save jobs.

 

Dr Tim Phillippi, executive director, Singaporean

[Bird5011]

This is good excuse for our bosses huh?

 

 

 

 

SINGAPORE: Economic watchers are expecting the National Wages Council (NWC) to address the issue of salary cuts to brace for the current difficult economic times.

 

ADVERTISEMENT

 

Channel NewsAsia understands from employer and union representatives that the council, which was reconvened recently, met again on Wednesday. Its revised guidelines are expected next week.

 

The last time the NWC recommended a wage cut to save jobs was in 2003 during the SARS period.

 

In 2003, the NWC proposed that in view of the severe impact of SARS on the economy, companies directly affected by the outbreak implement appropriate wage cuts to survive the downturn and to save jobs.

 

Economic watchers said the time has come for the NWC to revisit this need for companies to survive and save jobs.

 

Dr Tim Phillippi, executive director, Singaporean

[Booboon]

If cut salary then their pay not competitive wor, and cannot retain "Talent".

[N00b]

they will tell u they cut liao...last yr end they got lesser bonus leh

[Jacf]

most of the time ,these NWC guidelines are carried out by Govt... to show the pte sector to follow... so be prepared...

 

BTW, should public transport fares come down in this case, since some big shot said the fares are pegged to the wages inflation and not fuel prices!!!

 

Before the govt go ahead n cut wages, they must oso cut all other fares and public charges too! else life will be really hard for those low, mid income ppl!

[Donut]

i got internal source from those big wholesale gara kunis:

 

after CNY, there will be alot of resturants and retails closing down..... that is how bad it is......

 

these biz owners already called up the wholesale gara kunis and arrange them to come and collect the resturants' equipments and stuff after CNY......

 

 

[Tjkbeluga]

If cut salary then their pay not competitive wor, and cannot retain "Talent".

Hahaha.... as usual, definition of "cut" for gahmen is gain less from what is rightfully theirs.

[Scoots]

Before "they" mentioned about pay-cut.. "they" MUST and have to cut their damn "million $" salary first!!!

 

That's one way of looking at it. But I would prefer to follow their justification for "their" pay rise in the first place.

 

It was pegged to salaries of top performers from other industries right? So given how all badly all those financial institutions have performed, and the gross pay that is now deemed to be too high. Shouldn't that mean:

 

1. Their salaries should be lowered?

2. Rethink: Are these talents in the first place? (afterall, their 'peers' only seemed to help wreck the financial systems and pocket fat paychecks only...)