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COVID-19: Retrenchments


Albeniz
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Turbocharged
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3 hours ago, Wind30 said:

Would u hire a guy without any experience in digital transformation to lead your team?? Just because he attended a six month course?

i am pretty sure you will not get a lead job in the new field. Such job always require years of experience. 
 

For middle management folks, they already have  experience in managing people, making strategic business decisions,  and handling customers (or internal stakeholders).  What they don't have is the understanding and the process of digital transformation or some of the in-demand knowledge/know-how

If they do something to fill that knowledge gap, there is a good chance they can land back onto some middle level jobs. Can they find one immediately after completion of the course? No one can answer this, but surely better than being despondent and sitting at home doing nothing about it.

In 2018, while running  my real estate stuff, I was also hired to provide consulting  by a manpower provider (recruitment firm) that provides manpower to the retail banks and investment banks. I saw the entire recruitment process, the interview process and spoke to nearly 40  hiring managers of various departments, positions and seniority.  So I am not shooting in the dark when I give suggestions here.  Whether a person wants to upskill themselves or not,  it is really up to them.  But the opportunities are there if they do.

Edited by Icedbs
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Supercharged

IMO, no one can give you job security or income security in this new normal era. Anything can happen juz before you could adapt especially if you are above 45 yo and worst is 50+.

But dont be depressed. There is a light in the end of each tunnel if you willing to accept the fact. I'm here to tell you that only in Security Industry can give you job security. 🙂

ok, I got my security license liao. Jobs are every where and is recession proof. There are many ways to earn more if you upgrade yourself with more courses.

I'm juz sharing only, dont own a training centre or get any commissions for this. There is chat group that can help explain the steps to enrollment. PM me if keen. 

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13 hours ago, Voodooman said:

1 of 2 with an iron rice bowl job? 😎

Have you ever wonder why we have so many talented and experienced people in their 40s and 50s who had to retire early cause they can't find meaningful work whereby they are also fairly compensated?  

I have also seen many of my seniors (some are extremely capable and knowledgeable) ending up underemployed for years, it is almost criminal.  

This has been going on for 1-2 decades and G can't seems to fix it. 

Is this the norm in other countries as well?

Like me 😢😪🥺

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7 hours ago, Yewheng said:

Retrench must give advanced notice? It is the norm in a lot of industries these days and for a company dealing with aircraft engine, i would think it is SOP.   

Maybe i am numb to it. Seen it so many times.

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27 minutes ago, Voodooman said:

 

Retrench must give advanced notice? It is the norm in a lot of industries these days and for a company dealing with aircraft engine, i would think it is SOP.   

Maybe i am numb to it. Seen it so many times.

I guess those are not very high level staff who dont know what retrenchment is about so they take it very negatively 

Which is exactly why there is no advance notice and no reason and immediate packing up to leave. 😀 

Respect is what you earn for yourself, dont expect it to be given.  If it is given, relish it. 

When i was retrenched, i was given the whole day to say my farewells and address my team.  Can walk around the whole office and shake hands, no HR person to follow me and just hold on to my access card until i decided when i was leaving for the day.  

Not bad actually.  Muayhahahahaha

Edited by Throttle2
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Turbocharged
19 minutes ago, Throttle2 said:

I guess those are not very high level staff who dont know what retrenchment is about so they take it very negatively 

Which is exactly why there is no advance notice and no reason and immediate packing up to leave. 😀 

Respect is what you earn for yourself, dont expect it to be given.  If it is given, relish it. 

When i was retrenched, i was given the whole day to say my farewells and address my team.  Can walk around the whole office and shake hands, no HR person to follow me and just hold on to my access card until i decided when i was leaving for the day.  

Not bad actually.  Muayhahahahaha

Haha..same..same..reminds me of my last day as well...after tio chopped.. was even the last guy to leave office that day and i had to off the lights and everything...thats trust for you...

Only thing different was..had to leave the photo ID and access card on one of the HR executive's desk before leaving for the day one last time..😁

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Turbocharged

retrenchment: no need notice. they pay u that notice period

if comes with package at least can tahan a bit, those with no package.. cham, SG is still employer friendly when it comes to this.. HK is most employer friendly. but their notice period for middle management is higher.

some companies i work for, when u cannot log in... shld roughly know whats happenning soon

others, inform you a month ahead, say service no longer needed, but cb still dun wanna pay u that notice period.

the longer this covid last, the worse it will get... JSS finished, ntuc also start telling employer be fair blah blah.. shit has hit the fan

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Twincharged
(edited)
3 hours ago, Vegas said:

retrenchment: no need notice. they pay u that notice period

if comes with package at least can tahan a bit, those with no package.. cham, SG is still employer friendly when it comes to this.. HK is most employer friendly. but their notice period for middle management is higher.

some companies i work for, when u cannot log in... shld roughly know whats happenning soon

others, inform you a month ahead, say service no longer needed, but cb still dun wanna pay u that notice period.

the longer this covid last, the worse it will get... JSS finished, ntuc also start telling employer be fair blah blah.. shit has hit the fan

Not just covid-19.. Another bigger wave coming.. This one will be very spectacular.. It will be the worst depression ever.. Just keep a look out in America.. Think no one will expect such bad state will happen to America.. Can someone imagine that america went bankrupt? It's whole America went bankrupt.. Currency crisis is coming in America.. 

 

https://www.cnbc.com/2020/07/28/gold-prices-could-hit-3500-in-two-years-analyst-says.html?__source=Facebook

 

Analysis predict gold price could hit 3.5k in 2 yrs. So what does this tell us? In terms of usd it will continue to devalue, there will be continuing of messive money printing. Somewhat the next few years will be really super bad that no one can imagine. 

Edited by Yewheng
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4 hours ago, Yewheng said:

Not just covid-19.. Another bigger wave coming.. This one will be very spectacular.. It will be the worst depression ever.. Just keep a look out in America.. Think no one will expect such bad state will happen to America.. Can someone imagine that america went bankrupt? It's whole America went bankrupt.. Currency crisis is coming in America.. 

 

https://www.cnbc.com/2020/07/28/gold-prices-could-hit-3500-in-two-years-analyst-says.html?__source=Facebook

 

Analysis predict gold price could hit 3.5k in 2 yrs. So what does this tell us? In terms of usd it will continue to devalue, there will be continuing of messive money printing. Somewhat the next few years will be really super bad that no one can imagine. 

Buying gold bars nao. LOL

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5 hours ago, Yewheng said:

Not just covid-19.. Another bigger wave coming.. This one will be very spectacular.. It will be the worst depression ever.. Just keep a look out in America.. Think no one will expect such bad state will happen to America.. Can someone imagine that america went bankrupt? It's whole America went bankrupt.. Currency crisis is coming in America.. 

 

https://www.cnbc.com/2020/07/28/gold-prices-could-hit-3500-in-two-years-analyst-says.html?__source=Facebook

 

Analysis predict gold price could hit 3.5k in 2 yrs. So what does this tell us? In terms of usd it will continue to devalue, there will be continuing of messive money printing. Somewhat the next few years will be really super bad that no one can imagine. 

You mentioned massive money printing and then also said us might go bankrupt in the same post. Do you know what you are talking about?

How to go bankrupt if what you owe to others is something that you can issue for free?

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9 hours ago, Vegas said:

 

others, inform you a month ahead, say service no longer needed, but cb still dun wanna pay u that notice period.

What do you mean by this?

I don't think there is any way for them to get out of paying you during the notice period. The only thing they can do is get you to turn up for work and do handover but that's fair.

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12 minutes ago, ToyotaShuttle said:

You mentioned massive money printing and then also said us might go bankrupt in the same post. Do you know what you are talking about?

How to go bankrupt if what you owe to others is something that you can issue for free?

https://www.economicshelp.org/blog/797/economics/why-printing-money-causes-inflation/

 

https://www.economicshelp.org/blog/634/economics/the-problem-with-printing-money/

Quote

"If the government print too much money and inflation get out of hand, investors will not trust the government and it will be hard for the government to borrow anything at all."

 

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Turbocharged
20 minutes ago, ToyotaShuttle said:

You mentioned massive money printing and then also said us might go bankrupt in the same post. Do you know what you are talking about?

How to go bankrupt if what you owe to others is something that you can issue for free?

When you print freely, someday nobody will accept them. When nobody accept them, you print also not use. Then you bankrupt lor. 

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7 minutes ago, Vinyl said:

Yes. Print money will cause inflation but us inflation is only 2.3% in 2019. Very comfortable.

Btw, it doesn't explain how you can go bankrupt when you are able to print money.

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