Higher Layoffs Seen in 2012

[HP_Lee]

looks like economy not doing well

 

Is already not doing well since 2007.

[Throttle2]

a very wicked hope u have there.. no need to be so brutal right? haha

 

Life is brutal sometimes.

 

I could be laid off too, right?

 

So i am not wicked, it was an honest remark directed at the whole market.

[HP_Lee]

i maybe wrong but for finance sector, there r prob equal pple who resign n get retrenched. it can get extremely political n difficult sometimes.

 

thats y i feel that finance sector is a sunset industry n not the recommended industry to go in for young grads IMO. Almost all bankers i know have a terrible work life balance.

 

Well. if one wants fast money, there is only easy lunch out.

 

This reminds me the electronics and plastic molding sector during my time. It was the hottest sector. But the educational system lagged. So by the time, we have enough grads in these sectors, the market start moving out of Singapore. Still remember 5 - 6 years back, where many taking up finance and banking. That's the hottest trend. Now is a repeat of the electronics and plastic molding sectors. Too many grads in this field, rising operating cost and margin squeeze of banks' profits. Banks are no longer able to generate profit back in those days. This mainly due to capitalization and tighter operating requirements by the regulators round the world.

[Mustank]

Is already not doing well since 2007.

 

but coe and property chiong leh

[Little_prince]

Well. if one wants fast money, there is only easy lunch out.

 

This reminds me the electronics and plastic molding sector during my time. It was the hottest sector. But the educational system lagged. So by the time, we have enough grads in these sectors, the market start moving out of Singapore. Still remember 5 - 6 years back, where many taking up finance and banking. That's the hottest trend. Now is a repeat of the electronics and plastic molding sectors. Too many grads in this field, rising operating cost and margin squeeze of banks' profits. Banks are no longer able to generate profit back in those days. This mainly due to capitalization and tighter operating requirements by the regulators round the world.

 

true true. my time alot of ppl kena con into bio med field. now all washing test tube or end up as teachers in nie.

 

now seems like alot of student kena con into aerospace.

[HP_Lee]

but coe and property chiong leh

 

This is due to varies factors :

 

1. Ultra low interest rates (As good as free money)

2. More well to do foreign families settling here.

3. Still low unemployment rate. Companies still undergo re-structuring and have yet to filter down.

4. Overseas liquidity is flooding the Asian markets, which is still supporting and inflate asset prices.

5. Richer parents help to fund properties for their kids.

 

Hence, the middle income is still living comfortably for now. While the lower income are suffering. But once the unemployment rate starts moving up, this is going to be interesting for me.

Edited April 29, 2013 by HP_Lee

[HP_Lee]

true true. my time alot of ppl kena con into bio med field. now all washing test tube or end up as teachers in nie.

 

now seems like alot of student kena con into aerospace.

 

Yaa... So if you have children, don't get them to follow the trend. It's dangerous.

 

My niece got into Business & Finance 6 years ago and got retrenched in 2010. Is still fresh in my mind.

[HP_Lee]

wonder what will be his next election slogan...

 

Should be similar to GE2011. Unless there are great changes in public housing and healthcare, which are still debating.

Edited April 29, 2013 by HP_Lee

[HP_Lee]

I have always remind myself and my employees. No one is indispensable, which includes me.

[Maz0608]

wah why maz so bad one

he should confidence for the future!

Not curse you lah! This kind of thing must share share mah!

Then you will know what it means and make you value your job more.

 

I also Kenna retrenched during the Asian financial crisis and 6 months without job.

Lucky for me, my family was still able to provide for me then.

 

Thinking back, it may not be that bad after all. Have I remained in that company, I am sure I would not have been able to drive now.

 

[Joseph22]

i must say our garmen is doing dam good job at drilling into most pple minds that all is well. We r prob reaching d end stages of massive re-capex n expansion phase which began in 2009. Once the investments start to show negative or flat returns, either garmen intervenes to boost things higher again, or d mkt naturally falls to allow the rebound to occur.

on the contradictory they had been telling us all is not well dont anyhow buy car and buy house but no one listen.

[Joseph22]

true true. my time alot of ppl kena con into bio med field. now all washing test tube or end up as teachers in nie.

 

now seems like alot of student kena con into aerospace.

what they advertise are what we are lacking now...

 

nothing wrong as they are suppose to fill up the market when the grad.

 

but problem is, in the mean time.. cheaper foreigner are taking the job.. by the time they grad.. you think they want to hire expensive local meh?

[Kusje]

yeap, it's really quite small. i was from the oil&gas industry

 

I used to do inhouse recruitment for oil and gas industry.... Some companies still doing okay. Want to PM me your role?

[Duckduck]

on the contradictory they had been telling us all is not well dont anyhow buy car and buy house but no one listen.

 

they forever confusing 1 lah. 1 hand say unemployment dam low, other hand garmen owned developer keppel go n bid super high price at tiong bahru... warauz is like they r front running their own property sales lor... then do open tender for wat? if they say got no conflict interest, then temasek shldnt b main shareholder of keppel or capitaland lor...

[Joseph22]

they forever confusing 1 lah. 1 hand say unemployment dam low, other hand garmen owned developer keppel go n bid super high price at tiong bahru... warauz is like they r front running their own property sales lor... then do open tender for wat? if they say got no conflict interest, then temasek shldnt b main shareholder of keppel or capitaland lor...

 

you say they bid super high price. this mean they bid a lot more?

if there is conflict of interest, they bid super low will also get. and if want to cover up just bid slightly higher. wont be high price by a lot liao

 

BTW, like you mention its GLC that bid high. GLC are not government, they are GLC because belong to gahmen nia. doesnt mean what they do is what government believe.

Edited April 29, 2013 by Joseph22

[Duckduck]

you say they bid super high price. this mean they bid a lot more?

if there is conflict of interest, they bid super low will also get. and if want to cover up just bid slightly higher. wont be high price by a lot liao

 

wah if bid low also get, thats not open tender liao. my view is how do they consciously allow their own "people" to bid up land prices, yet the MND is actively trying to push down prices? wats going on?

[Joseph22]

wah if bid low also get, thats not open tender liao. my view is how do they consciously allow their own "people" to bid up land prices, yet the MND is actively trying to push down prices? wats going on?

because of our stupid COI law in singapore. they cannot let people know what is going on inside even if its kaki lang because everyone is scare of conflict of interest.

 

i quote you one example i have with one of my customer when i go to their place. (happen to be gahmen related)

 

offer them to go lim kopi and i chia nia.. all scare.. and end up they pay for me... a customer..

 

that is how scare they are that they wont even release a single information to another person from another department/division

 

of course there are still cases like what we are seeing in recent court cases.

[Partagas]

I think getting laid off is part and parcel of today's working life. Not like our forefathers.

But still I don't wish to be laid off, I wish to lay the company off instead....heehee