Westender Neutral Newbie January 31, 2009 Share January 31, 2009 I'm sure some bro's company is going thru the abv mentioned exersice. After working 12+yrs in my current company, finally I may be on the chopping board soon. Just wondering, if being retrenched, is it compulsory for a company to give out payout, golden handshake, 1mth/1year and so on? Can a company just terminate you and pay you 1 mth and ask you to fly kite? Big MNC might have to cash to so call retrench you but how about smaller company? If they don't have the cash, probably they'll find a way to terminate you or even fire you. ↡ Advertisement Link to post Share on other sites More sharing options...
Kelpie 2nd Gear January 31, 2009 Share January 31, 2009 I'm sure some bro's company is going thru the abv mentioned exersice. After working 12+yrs in my current company, finally I may be on the chopping board soon. Just wondering, if being retrenched, is it compulsory for a company to give out payout, golden handshake, 1mth/1year and so on? Can a company just terminate you and pay you 1 mth and ask you to fly kite? Big MNC might have to cash to so call retrench you but how about smaller company? If they don't have the cash, probably they'll find a way to terminate you or even fire you. Sad to say that there isn't a hard and fast rule of 1 month compensation for every single that you've worked. In fact, you should read your employee contract carefully. These days, compaines can actually terminate your service if "your service is no longer required" by giving you 1 month notice. Regards, Link to post Share on other sites More sharing options...
En0203 2nd Gear January 31, 2009 Share January 31, 2009 No such thing as compulsory compensation unless otherwise written in your contract. My company only give 1 month compensation and ask you to leave immediately Link to post Share on other sites More sharing options...
Kelpie 2nd Gear January 31, 2009 Share January 31, 2009 No such thing as compulsory compensation unless otherwise written in your contract. My company only give 1 month compensation and ask you to leave immediately Singapore is pro employer rather than employee. Remembered once one senior staff was given 1 month termination notice. He sued the company but lost in the end. Because the contract already said company has the right to terminate your service anytime by giving one month notice so long your service is no longer required by the company. Regards, Link to post Share on other sites More sharing options...
Speedsun Clutched January 31, 2009 Share January 31, 2009 Not in Singapore. It is based on the goodwill of a company to pay the retrenchment package. Link to post Share on other sites More sharing options...
Sony 1st Gear January 31, 2009 Share January 31, 2009 I'm sure some bro's company is going thru the abv mentioned exersice. After working 12+yrs in my current company, finally I may be on the chopping board soon. Just wondering, if being retrenched, is it compulsory for a company to give out payout, golden handshake, 1mth/1year and so on? Can a company just terminate you and pay you 1 mth and ask you to fly kite? Big MNC might have to cash to so call retrench you but how about smaller company? If they don't have the cash, probably they'll find a way to terminate you or even fire you. sadly not the case, esp if you are in executive.. i.e. not factory worker.. factory worker have more protection coz they can go on tv due to low income.. Link to post Share on other sites More sharing options...
Tortoise777 Neutral Newbie January 31, 2009 Share January 31, 2009 Sigh Link to post Share on other sites More sharing options...
En0203 2nd Gear January 31, 2009 Share January 31, 2009 Singapore is pro employer rather than employee. Remembered once one senior staff was given 1 month termination notice. He sued the company but lost in the end. Because the contract already said company has the right to terminate your service anytime by giving one month notice so long your service is no longer required by the company. Regards, Yea. My company just lost a big job bidding yesterday, guess retrenchment and pay cut is unavoidable now Link to post Share on other sites More sharing options...
En0203 2nd Gear January 31, 2009 Share January 31, 2009 Sigh Link to post Share on other sites More sharing options...
RadX Moderator January 31, 2009 Share January 31, 2009 are we hiring? demand sure to go up after chap goh Link to post Share on other sites More sharing options...
Sony 1st Gear January 31, 2009 Share January 31, 2009 are we hiring? demand sure to go up after chap goh I think we better don't have too many perm staff.. coz when economy goes up and less business, we will to pay them months of salary to let them go. I think contract or parttimer will do.. save on all the other staff benefit like free coffin, ahem, i meant cabin and give us the flexibility as well. govt said one, so must follow, can't go wrong. Link to post Share on other sites More sharing options...
RadX Moderator January 31, 2009 Share January 31, 2009 got give jobs credit bo?.... Link to post Share on other sites More sharing options...
Tortoise777 Neutral Newbie January 31, 2009 Share January 31, 2009 (edited) truly unfortunate... during my co last round global retrenchment exercise, our China & Taiwan employees received N+1mth, European & Americas got fat package, Singaporean was the poorest... :angry: Edited January 31, 2009 by Tortoise777 Link to post Share on other sites More sharing options...
Sony 1st Gear January 31, 2009 Share January 31, 2009 got give jobs credit bo?.... eh.. we give them or they give us? Link to post Share on other sites More sharing options...
Watwheels Supersonic January 31, 2009 Share January 31, 2009 truly unfortunate... during my co last round global retrenchment exercise, our China & Taiwan employees received N+1mth, Europe & USA got fat package, S'pore was the poorest... :angry: Cos others have worker's union to protect them. Sg's....NATO. Link to post Share on other sites More sharing options...
Vinceyeo Neutral Newbie January 31, 2009 Share January 31, 2009 Sigh Link to post Share on other sites More sharing options...
Pct328 Clutched January 31, 2009 Share January 31, 2009 some companies practice "termination of services" and NOT retrenchment. therefore there is no package or compensation. it all depend on your employment contract, most of us when we resign, we need to give 1 month notice period and if we want to leave immedaitely we need to pay the company 1 month pay. likewise when a company dont want you, they either give you a notice period (1month, 2month, 2 weeks or 3 days depending on your contract) or they pay you the notice period $$. they will emphasis "THIS is NOT a retrechment exercise, thus there is no package." Link to post Share on other sites More sharing options...
Vinceyeo Neutral Newbie January 31, 2009 Share January 31, 2009 some companies practice "termination of services" and NOT retrenchment. therefore there is no package or compensation. it all depend on your employment contract, most of us when we resign, we need to give 1 month notice period and if we want to leave immedaitely we need to pay the company 1 month pay. likewise when a company dont want you, they either give you a notice period (1month, 2month, 2 weeks or 3 days depending on your contract) or they pay you the notice period $$. they will emphasis "THIS is NOT a retrechment exercise, thus there is no package." Yes that is termed "severance payout" to terminate with immediate effect for employees who are no longer on probation. But normally this practice is only used for problematic employees who either have performance issues or time keeping problem etc... But again this really depends on your employment contract amongst other company policies and whether you are an exempt or non-exempt staff. ↡ Advertisement Link to post Share on other sites More sharing options...
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