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Higher Layoffs Seen in 2012


HP_Lee
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What is this trying tell us on property market??

 

If trend continue, many have heavy loans on properties and cars may have trouble to service them. That's the tipping-point??

 

Higher Layoffs

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What is this trying tell us on property market??

 

If trend continue, many have heavy loans on properties and cars may have trouble to service them. That's the tipping-point??

 

Higher Layoffs

 

too late lah such news so restrospective lor. Anyone w friends in finance sector already know so many heads kena chop past 1yr, yet media quiet quiet whole day spamming abt low unemployment.

 

As usual they must wait until retrenchments accumulate until it may have systematic contagion on other sectors as u mentioned properties, then they write in papers...

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Maybe they will build more casinos to generate employment (in P Ubin now)? [laugh]

 

truth is they r prob seriously considering as all other biz dont generate as much cash n jobs as casino. If GE2011 didnt have such results, im sure casino #3 wld have been announced liao.

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but quickly follow up with this.....

 

Bright spots for execs, despite layoffs

Nigel Chen My Paper Friday, Apr 26, 2013

 

SINGAPORE - Even as more executives were laid off last year than in 2011, the situation is unlikely to worsen this year, human-resource experts said, pointing to some bright spots in the job market.

 

Mr Josh Goh, assistant director of corporate services at human-resource consultancy firm The GMP Group, said there will still be layoffs of professionals, managers, executives and technicians (PMETs) this year in the face of the changing business strategies of companies.

 

But he said this is unlikely to increase over last year's amount. Mr Finian Toh, a manager of the finance, projects and operations division at Robert Walters Singapore, predicted that layoffs this year would be kept to a minimum.

 

Mr Goh explained that he expected it would "be easier for locals with the relevant skill sets to find employment" in the future, with government plans to tighten hiring of highly skilled foreign labour which were announced at the end of February.

 

He also did not expect major changes to the redundancy of PMETs in general, unless there are unforeseen events, such as an outbreak of the H7N9 bird-flu virus.

 

Mr Toh did not expect more layoffs this year because "companies would (prefer) to redirect their focus to remobilising their current workforce, or sending their existing employees for training and development to acquire new skills".

 

A Ministry of Manpower report released yesterday showed that PMETs accounted for 54 per cent, or 5,960, of all layoffs last year. This was an increase from 2011, when PMETs accounted for 42 per cent, or 4,170, of all layoffs.

 

Findings from yesterday's report also showed that for every 1,000 PMETs, 7.4 were made redundant last year.

 

This is also an increase over 2011, when 5.5 out of 1,000 PMETs were laid off. Even so, last year's figures were still below the recessionary high of 15 for every 1,000 PMETs in 2009.

 

The report added that the findings possibly reflect the growing vulnerability of mid-level white-collar workers, due to globalisation and technological innovations.

 

Mr Goh said that "the sluggish economy caused pockets of retrenchment in several industries, including banking and finance, last year".

 

He added that, as the global situation changed, demand for labour in Singapore also changed.

 

"Businesses have simply restructured and moved some of their operations to more cost-effective locations," he said.

 

- See more at: http://business.asiaone.com/news/bright-sp...h.1DrH1BJN.dpuf

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to be honest. mostly layoff are those lower performing/lower educated workers that company using this recession as a excuse to get rid of.

 

if you can perform. good times or bad times the company wouldnt let you go

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Manufacturing was quite badly hit at the last 2 quarters of 2012, i suppose majority of the numbers would come from that sector.

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What is this trying tell us on property market??

 

If trend continue, many have heavy loans on properties and cars may have trouble to service them. That's the tipping-point??

 

Higher Layoffs

 

Overall unemployment rate still remain low, interest rate continue to remain at record low. These 2 factors are main driving forces of property and cars.

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Hypersonic

but quickly follow up with this.....

 

The media always like to say there are bright spots <_< Loads of rubbish

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Turbocharged

too late lah such news so restrospective lor. Anyone w friends in finance sector already know so many heads kena chop past 1yr, yet media quiet quiet whole day spamming abt low unemployment.

 

As usual they must wait until retrenchments accumulate until it may have systematic contagion on other sectors as u mentioned properties, then they write in papers...

 

no wonder this week there was a report on hospitality sector most favourable to work in....

was wondering why...

 

2+2....

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to be honest. mostly layoff are those lower performing/lower educated workers that company using this recession as a excuse to get rid of.

 

if you can perform. good times or bad times the company wouldnt let you go

 

 

Yes or no i think

In service and IT industry it's cheaper for company to get S-Pass holder, why pay 4k to a local doing the same task when a 2k S-Pass also can do

If the 2k S-Pass is not performing the company can just send them back to where theu belong and replace with another S-Pass

There's million of potential candidates from India Philipines China inspired the s'pore dream

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What is this trying tell us on property market??

 

If trend continue, many have heavy loans on properties and cars may have trouble to service them. That's the tipping-point??

 

Higher Layoffs

 

Funny thing is property price is going higher hitting 2000psf , and reported that sales surge higher ? The more I wait , the higher it go ! :o

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I wonder if they have any figures that give a breakdown of the redundancy rate of local PMETs vs foreign PMETs.

 

These numbers that they throw out don't mean anything anymore without a breakdown, considering the local vs non-local split in our population.

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I wonder if they have any figures that give a breakdown of the redundancy rate of local PMETs vs foreign PMETs.

 

These numbers that they throw out don't mean anything anymore without a breakdown, considering the local vs non-local split in our population.

This is a figure we will never see. It doesn't serve any purpose other than to stoke anti-FT fire.

Even if the figure is in favor of the locals it will be met with skepticism.

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I wonder if they have any figures that give a breakdown of the redundancy rate of local PMETs vs foreign PMETs.

 

These numbers that they throw out don't mean anything anymore without a breakdown, considering the local vs non-local split in our population.

 

There is over supply of local PMETs , but definately very short of foreign PMETs , hence they need to import more .

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I wonder if they have any figures that give a breakdown of the redundancy rate of local PMETs vs foreign PMETs.

 

These numbers that they throw out don't mean anything anymore without a breakdown, considering the local vs non-local split in our population.

 

If local more than foreign, they won't publish lor. If foreign more than local, they will wave the "flag". [laugh]

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Funny thing is property price is going higher hitting 2000psf , and reported that sales surge higher ? The more I wait , the higher it go ! :o

 

http://business.asiaone.com/news/property/...ice-index-13-q1

 

SINGAPORE - Housing & Development Board's resale flat price index rose 1.3 per cent in the first quarter of 2013 from the preceding quarter. This compares with the 1.2 per cent rise for Q1 reflected in HDB's flash estimate released on April 1.

 

 

Get the full story from The Business Times.

 

Here is the press release from HDB:

 

HDB Resale Market

 

The Resale Price Index (RPI) rose 1.3 per cent from 202.9 in 4th Quarter 2012 to 205.5 in 1st Quarter 2013. This is lower than the 2.5 per cent growth in the previous quarter.

 

Resale transactions fell 23 per cent from 5,631 cases in 4th Quarter 2012 to 4,335 cases in 1st Quarter 2013.

 

HDB Rental Market

 

Subletting transactions rose 15 per cent from 6,443 cases in 4th Quarter 2012 to 7,410 cases in 1st Quarter 2013.

 

The total number of HDB flats approved for subletting rose 1.8 per cent from 43,508 units in 4th Quarter 2012 to 44,274 units in 1st Quarter 2013.

 

Upcoming Supply

 

HDB will launch 25,000 Build-To-Order (BTO) flats in 2013, out of which 7,244 units have already been launched in 1st Quarter 2013.

 

In the upcoming May 2013 BTO exercise, HDB will offer 4,850 BTO flats for sale in Choa Chu Kang, Hougang, Jurong West, Sembawang, and Woodlands. An additional 3,000 flats will be offered in a concurrent Sale of Balance Flats exercise. The details will be available on the HDB InfoWEB when HDB launches the sales exercises.

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