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COVID-19 : Are you retrenched? Or Salary Cut?

Pss2

By Pss2,
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Windwaver

Windwaver

Turbocharged
5 minutes ago, TangoCharlie said:

That one judgement call, not easy to get it right.

That is usually where the big boys control the game :whisper:

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TangoCharlie

TangoCharlie

Supersonic
18 minutes ago, Windwaver said:

That is usually where the big boys control the game :whisper:

Generally, I think if you take a contrarian approach, you will be alright. That's where you ride along with the big boys.

Hopefully.

Good luck🤞

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Windwaver

Windwaver

Turbocharged
1 hour ago, TangoCharlie said:

Generally, I think if you take a contrarian approach, you will be alright. That's where you ride along with the big boys.

Hopefully.

Good luck🤞

There will definitely be a small number of retail investors that know what they are doing but it's the majority that are sheep :grin:

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Vegas

Vegas

Turbocharged
On 4/7/2020 at 11:47 AM, Vinceng said:

I share your fear!

And once these taxes and other charges like parking, road tax, petrol excise duty are raised, they never go down for good. So end up paying more than what was collected.

yes all will go up. but for now, a lot a lot of pple needed the cash injection.

i know of many small towkays, every night ktv, struggling like hell to sustain operations. no injections of cash, means company fold, also means more pple out of jobs.

 

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Vegas

Vegas

Turbocharged
14 hours ago, Ginyu said:

During WFH period, firms can evaluate who are the ones are expendable since business can continue to operate without them🤣

for mncs, everyone is expendable. its the truth. humans are there to oil the operations and lessen the noise.

who is more expendable do not need wfh to determine.

what will definetely change is the amount of business travel after this. firms cfm cut travelling even via budget air. cos the locals in other countries have been trained up forcefully.

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Throttle2

Throttle2

Supersonic

sorry for the retail investors coming in, when the next sell down happens, they better get out fast enough or they are going to really be hurt.  Walking straight into a bear trap.....

 dont margin trade and bite more than you can chew, this one is no joke.....

 

 

 

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Voodooman

Voodooman

Supersonic
9 hours ago, Vegas said:

for mncs, everyone is expendable. its the truth. humans are there to oil the operations and lessen the noise.

who is more expendable do not need wfh to determine.

what will definetely change is the amount of business travel after this. firms cfm cut travelling even via budget air. cos the locals in other countries have been trained up forcefully.

Some bigger companies have been moving towards WFH and hot desking for years, equipping the workforce with IT system that allows employees to work anywhere around the world. 

Will all these prolonged lockdown and CB accelerate the move, leading up less demand for office and commercial space in the future? 

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mersaylee

mersaylee

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51 minutes ago, Voodooman said:

Some bigger companies have been moving towards WFH and hot desking for years, equipping the workforce with IT system that allows employees to work anywhere around the world. 

Will all these prolonged lockdown and CB accelerate the move, leading up less demand for office and commercial space in the future? 

Yes. A lot of goings after this pandemic.

More Institutional, structural changes to be expected...some already started...

our way of life is different now and can only be more so going forward. 
businesses have always been able to rework to adapt...because it’s as simple as step up or go down under

given our locality, an open economy for survival...we are better off by adjusting our mindset as it is a must to embrace the hard reset of world systems and orders. 

the impact on all fronts is going to be far and deep 

brace for impact for some...hope our 4G is able to help us ease into the new world...

world peace ✌️ 

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RogerNg_185295

RogerNg_185295

6th Gear
12 hours ago, Vegas said:

for mncs, everyone is expendable. its the truth. humans are there to oil the operations and lessen the noise.

who is more expendable do not need wfh to determine.

what will definetely change is the amount of business travel after this. firms cfm cut travelling even via budget air. cos the locals in other countries have been trained up forcefully.

So, are you expendable?

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Vegas

Vegas

Turbocharged
22 minutes ago, RogerNg_185295 said:

So, are you expendable?

of course i am. thats what i said mah...

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Spurman

Spurman

Supercharged
On 4/5/2020 at 1:35 PM, AlexTan05 said:

One of my Malaysian friend is drawing a basic salary of $1000 and is facing a 75% paycut. His boss mention that Government encourage employers to deduct salary up to 50% instead of fry cuttlefish. So basic from $1k become $500. Then what happen next is another 50% deduction by the Company so Basic become $250. If he choose not to accept, the other option is to take no pay leave for 1 month or get fired.

As a work permit holder, G has already subsided the foreign worker levy as well as the rental is free for the month. He is renting a house here which cost $400 to $600, he is barely able to cover the expenses.

My question is if what the company doing (75% paycut) is legit?

Bro.

Is your friend willing to work in manufacturing sector?

Production. Working on cnc and nc bending machines. Or in powder coating.

Looking to hire. Serious.

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Throttle2

Throttle2

Supersonic
On 4/9/2020 at 12:23 PM, Voodooman said:

150k to 200k = 10-15% of work force. With G massive support scheme, should be lower, right? 

Think lots of FT are going to be retrenched.

https://mothership.sg/2020/04/covid-19-singapore-retrenchments/

Positive news.  All said no plan. 

https://www.businesstimes.com.sg/banking-finance/singapore-banks-pledge-no-job-cuts-due-to-covid-19

In my earlier post several weeks ago, i mentioned about the concerted effort which Singapore Govt and businesses are taking.   No retrenchement exercise, save jobs, reduce cost. Defer payments, defer loans etc Etc etc

thats for now, for 2020. Which we all already know in our minds and hearts that any growth is shattered.  A minus 1 to minus 4 % shrinkage of economy in 2020, they reported.  I think minimum -5% right from the start.   

The real test is 2021 when all these concerted efforts come to an end.  Businesses can no longer pledge to keep jobs and there will be mass layoffs,  just like the opposite of pent up demand.

Conserve while we can. Gonna need it later

 

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Windwaver

Windwaver

Turbocharged

Yeah Throttle2 is right and I think we need to start planning for 2021 already.

Unless a vaccine comes along, if not, it's going to continue; made worse by people that doesn't care about others.

 

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